Insa Oil and Focal Point Energy Announce Joint Venture to Expand Strategic Energy Market

HOUSTON and PLOVDIV, Bulgaria, June 14, 2022 /PRNewswire/ -- Houston-based energy investment and development company, Focal Point Energy, has agreed to form a 50/50 joint venture with Insa Oil, a leading Bulgarian energy company.

Insa Inc, as the joint venture is named, will see Focal Point Energy and Insa Oil partnering to expand Insa Oil's reach into the broader Balkan market for both their existing portfolio of refined products and to develop new clean energy opportunities in the region.

"We look forward to working together to expand our portfolio, unlocking Bulgaria's energy market potential, both domestically and regionally," said Georgi Samuilov, President of Insa Oil. "With the current shift to alternative fuel sources in our region, and the ongoing movement towards clean energy, this joint venture further positions Insa Oil as a leader in the European owned and operated producers market."

As part of the joint venture, Focal Point Energy will support the ongoing development of a new bio-ethanol production plan, in addition to Insa Oil's existing Bulgarian refinery. The joint venture will also pursue the development of sustainable, emissions-free energy projects not only to cover the refinery's needs but also to enter the broader regional green energy market.

"Our combined strengths – Focal Point's technical expertise and impact-driven mission, and Insa Oil's successful operating model – are a potent recipe for success. At its core, the partnership is driven by the shared values of both companies," said Vince Trovato, Executive Director of Focal Point Energy. "Beyond our shared mission, this joint venture will play a critical geopolitical role in diversifying regional fuel sources, a key goal of both the United States and our partners in the European Union."

Representatives from Insa and Focal Point Energy will join the Board of Directors of the new joint venture, bringing together globally recognized subject matter experts in support of Insa Inc's development efforts on the Balkan Peninsula.

About Focal Point Energy
Focal Point Energy is a US-based, impact-driven investment and development company specializing in transaction advisory and project development in the energy and infrastructure sectors. The energy investment and consulting firm focuses on opportunities across the energy spectrum, from renewable energy to traditional energy investments in globally strategic areas. Focal Point Energy is led by Executive Director Vince Trovato, a former senior U.S. Department of Energy official. For more information, visit https://focalpoint.energy.

About Insa Oil
Insa Oil is a leading Bulgarian-owned producer and distributor of petroleum products. Insa Oil operates the second-largest refinery in Bulgaria, a state-of-the-art facility near Plovdiv. On average, the refinery produces 1,000,000 metric tons of fuel annually for sale to over 200 commercial and government customers in Bulgaria. In addition to the refinery, Insa owns and operates a chain of gas stations throughout the country. For more information, visit https://insaoil.bg.

Media Contacts:
Focal Point Energy: Lauren Gilmore | [email protected]
Insa Oil: Public Relations | [email protected]

SOURCE Focal Point Energy