The United Shipping and Trading Company (USTC) has taken full ownership of CM Biomass, completing its acquisition of all remaining shares and marking a major step in its expansion into the global biomass sector, reports Bioenergy Insight.
The Danish family-owned group first invested in CM Biomass in 2021, taking a majority stake in the international supplier of wood pellets and sustainable biofuels. USTC increased its shareholding to 89% in late 2024 and has now acquired the remaining 11% to assume full control.
Nina Østergaard Borris, USTC’s CEO and co-owner, said the acquisition supports the company’s long-term strategy of diversifying into sustainable energy markets. “When we first invested in CM Biomass, we recognised both its strong business potential and the synergies it could bring across the USTC Group. The partnership has exceeded expectations, and full ownership is a natural and positive step forward,” she said.
The final share transfer was part of the original agreement when USTC became the majority shareholder. Copenhagen Merchants Group (CMG), CM Biomass’s founder and previous owner, had retained a minority stake set to be sold by the end of 2025.
Simon Rodian Christensen, CEO of CMG, described the sale as the successful conclusion of a planned partnership. “Since 2021, CM Biomass has gone from strength to strength, and I’m proud of what we’ve achieved together. The company is in excellent hands as it continues to grow under USTC’s leadership,” he said.
With operations across multiple continents, CM Biomass is one of the world’s largest independent biomass traders, supplying sustainable wood pellets and related products to energy producers and industrial clients.
