Finnish energy company operating fuel retail, renewable fuels, electric charging, biogas and heating businesses across the Nordic region and the United Kingdom.
Last updated August 27, 2026
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Overview
St1 is a Finnish energy company and the consumer-facing energy business of the St1 Nordic group. Its activities span fuel retailing, fuel distribution, refinery operations, renewable fuels, electric-vehicle charging, biogas, car washes, convenience services, restaurants and heating solutions. The company operates in Finland, Sweden, Norway and the United Kingdom, with Finland serving as the home market of St1 Suomi Oy. The business originated in the mid-1990s, when fuel traders Mika Anttonen and Ilkka Kokko established Greenergy Baltic to supply fuel to independent dealers in Finland. Station 1 Finland Oy was incorporated in 1997, creating the operating platform that later developed the St1 retail brand. During its early expansion, St1 moved beyond wholesale trading into branded distribution and station operations. Acquisitions and network development gave the company a substantial position in the Finnish retail-fuel market, while waste-based ethanol initiatives such as Etanolix and Bionolix introduced a lower-carbon dimension to the business. A major transformation took place in 2010, when St1 acquired Shell’s downstream operations in Finland and Sweden. The transaction included the Gothenburg refinery and approximately 565 filling stations. The acquired sites continued to use the Shell name under a long-term licence, allowing St1 to obtain Nordic refining and retail scale while maintaining a familiar consumer brand. In 2015, St1 expanded into Norway by acquiring Shell’s marketing company Smart Fuel AS, adding more than 400 retail sites, logistics activities and direct-sales operations. The Norwegian transaction also involved continued Shell branding and an aviation-fuelling joint venture. St1’s strategy combines conventional energy distribution with gradual decarbonisation. Its retail locations offer petrol and diesel, an increasing number of electric-vehicle charging points, car washes, convenience stores and restaurants. The company has also developed heavy-duty biogas infrastructure, including liquefied biogas refuelling stations. In Finland, it introduced hydrotreated vegetable oil diesel in 2021 and has promoted waste-based RE85 high-blend ethanol. These products are intended to reduce lifecycle or fossil carbon emissions compared with conventional fuels, although the company remains active in petroleum refining and fuel retail. Renewable-fuels research and production have been recurring elements of St1’s portfolio. The group delivered an Etanolix waste-to-ethanol unit in Gothenburg in 2015 and commissioned a Cellunolix demonstration plant in Kajaani, Finland, in 2017 to process softwood sawdust into advanced ethanol. The Kajaani demonstration later ceased operations. St1 has also expanded into heating through St1 Lähienergia Oy, which focuses on ground-source heating. A deep-geothermal pilot in Espoo’s Otaniemi district was not commercialised, although its wells were opened for research use in 2024. In Finland, St1 Suomi Oy has operated both St1- and Shell-branded station networks under a long-term licence. As that licence period approached its end, the company began converting the network to its own brand in April 2025. Reference material states that more than 170 Shell-branded Finnish stations had been converted by December 2025, producing a national network of about 470 St1 sites and coinciding with efforts to standardise services and expand electric charging and heavy-duty biogas. The same material reports 2024 Finnish market shares of 23.4% in petrol and 19.5% in diesel. In September 2025, St1 announced that St1 Suomi Oy would merge its subsidiary Lämpöpuisto Oy. Together, these moves indicate an effort to consolidate the domestic brand, retail platform and heating activities while broadening the energy mix.
History
St1’s roots lie in Finnish fuel trading during the mid-1990s. Mika Anttonen, a former Neste oil trader, and Ilkka Kokko established Greenergy Baltic in 1995–1996 in cooperation with Greenergy. The initial business supplied fuel to independent dealers in Finland. Station 1 Finland Oy was incorporated in 1997, providing a corporate platform for expansion from trading into distribution and branded retail. During the late 1990s and 2000s, the company built the St1 brand and expanded its Finnish station network through organic development and acquisitions. Its activities broadened beyond wholesale fuel supply, and it began experimenting with waste-based ethanol production through projects including Etanolix and Bionolix. These initiatives established a continuing connection between St1’s fuel-retail business and its interest in reducing the environmental impact of transport fuels. The company entered a major Nordic expansion phase in 2010 by acquiring Shell’s downstream operations in Finland and Sweden. The assets included the Gothenburg refinery and approximately 565 filling stations. St1 obtained substantial refining, logistics and retail capabilities, while the stations continued to operate under the Shell name through a long-term brand licence. In 2015, St1 acquired Shell’s Norwegian marketing company Smart Fuel AS. This added more than 400 Norwegian retail sites, logistics operations and a direct-sales business. The transaction also preserved Shell branding at the relevant retail locations and included an aviation-fuelling joint venture with Shell in Norway. St1 continued to invest in renewable fuels and alternative-energy technologies during the 2010s. An Etanolix waste-to-ethanol unit was delivered in Gothenburg in 2015. In 2017, the company commissioned a Cellunolix demonstration facility in Kajaani to produce advanced ethanol from softwood sawdust. The Kajaani facility later ceased operations. St1 also developed heating activities through St1 Lähienergia Oy, particularly ground-source heating, and explored deep geothermal energy at Otaniemi in Espoo. The geothermal pilot did not become a commercial project; its wells were subsequently made available for research in 2024. In Finland, the retail offer developed into a network combining conventional fuels with convenience retail, restaurants, car washes, electric charging and, increasingly, renewable fuels. St1 introduced HVO diesel in 2021 and developed waste-based RE85 high-blend ethanol for the Finnish market. It also began building a liquefied-biogas refuelling network for heavy transport. The company has described agricultural residues, including manure and other cattle-farming by-products, as potential feedstocks for Finnish biogas production, including cooperation plans involving Valio. The end of the Shell licence period prompted a new phase of domestic brand consolidation. St1 began converting Shell-branded Finnish sites to St1 branding in April 2025. Reference material reports that more than 170 stations had been converted by December 2025, creating a nationwide network of approximately 470 locations. The transition was accompanied by efforts to unify the service proposition and increase electric-charging and heavy-duty-biogas coverage. In September 2025, St1 announced a planned merger between St1 Suomi Oy and its subsidiary Lämpöpuisto Oy, further aligning the Finnish operating structure. St1 therefore remains a diversified energy company whose historical petroleum and retail foundations support a broader transition toward renewable fuels, electrification, biogas and low-carbon heating.
- 2025
Finnish station rebranding begins
[1]St1 starts converting Shell-branded Finnish stations to its own brand as the Shell licence period nears its end.
- 2025
Planned Lämpöpuisto merger announced
[1]St1 announces that St1 Suomi Oy will merge its subsidiary Lämpöpuisto Oy.
- 2024
Otaniemi geothermal wells made available for research
[1]The wells from St1’s non-commercialised deep-geothermal pilot are opened for research use.
- 2021
HVO diesel launched in Finland
[1]St1 introduces hydrotreated vegetable oil diesel to the Finnish market.
- 2017
Cellunolix demonstration plant commissioned
[1]A Kajaani demonstration facility begins producing advanced ethanol from softwood sawdust.
- 2015
St1 expands into Norway
[1]St1 acquires Shell marketing company Smart Fuel AS, adding more than 400 retail sites, logistics and direct-sales activities.
- 2015
Etanolix unit delivered in Gothenburg
[1]St1 delivers a waste-to-ethanol production unit at its Gothenburg operations.
- 2010
St1 acquires Shell downstream operations in Finland and Sweden
[1]The acquisition adds the Gothenburg refinery and approximately 565 filling stations, with continued Shell branding under licence.
- 1997
Station 1 Finland Oy is incorporated
[1]The operating company is incorporated to expand the business from fuel trading into distribution and retail operations.
- 1995
Greenergy Baltic is established
[1]Mika Anttonen and Ilkka Kokko establish Greenergy Baltic to trade fuels for private dealers in Finland.
Products and positioning
A Nordic energy company combining a large conventional fuel-retail and refining base with lower-carbon fuels, electric charging, renewable-energy projects and heating solutions.
Conventional transport fuels
Petrol and diesel
Petrol and diesel remain core products in St1’s retail-station network. In Finland, the main source of these fuels is identified as St1’s refinery in Gothenburg, Sweden. The products are sold through St1’s branded sites and historically through Shell-branded sites operated under licence.
Renewable transport fuel · 2021
HVO diesel
Hydrotreated vegetable oil diesel was introduced in Finland in 2021. It is positioned as a renewable diesel alternative with lower lifecycle greenhouse-gas emissions than fossil diesel, depending on feedstock and production conditions.
Renewable transport fuel
RE85
St1’s waste-based RE85 is a high-blend ethanol fuel developed for compatible vehicles. It extends the company’s earlier interest in producing ethanol from waste streams and provides an alternative to conventional petrol.
Renewable transport fuel
Liquefied biogas
St1 is developing a liquefied-biogas refuelling network in Finland, particularly for heavy-duty transport. The company has identified agricultural residues, including manure and other cattle-farming by-products, as potential renewable feedstocks.
Energy infrastructure
Electric-vehicle charging
St1’s retail locations increasingly include electric-vehicle charging alongside liquid fuels and other station services. The Finnish network rebranding programme included an expansion and standardisation of charging services.
Heating solutions
Ground-source heating
St1 Lähienergia Oy, a Finnish sister company of St1 Suomi Oy, focuses on ground-source heating solutions. This activity represents St1’s expansion from transport energy into building and local-energy services.
Marketing campaigns
- 2025Finnish Shell-to-St1 rebranding
Finland
St1 began converting Shell-branded Finnish stations to the St1 identity in April 2025 as its long-term Shell licence approached expiration. The programme also aimed to unify station services and support the growth of charging and heavy-duty biogas infrastructure.
Outcome. Reference material reports more than 170 conversions by December 2025 and a Finnish network of approximately 470 St1 sites.
Brand decisions
2025
Unify the Finnish retail network under St1 brandingStrategyBackground
The long-term licence allowing St1 to operate Shell-branded Finnish stations was approaching its end.
Action taken
St1 began converting Shell-branded stations to St1-branded sites and aligning their service offering.
Aftermath
The programme was reported to have produced a Finnish St1 network of approximately 470 sites by December 2025.
2025
Plan merger of St1 Suomi Oy and Lämpöpuisto OyM&ABackground
St1 announced a change to the structure of its Finnish operations and heating-related activities.
Action taken
St1 Suomi Oy announced that it would merge its subsidiary Lämpöpuisto Oy.
2021
Launch HVO diesel in FinlandProduct launchBackground
St1 aimed to reduce fossil carbon emissions from road transport by introducing lower-impact fuel alternatives.
Action taken
The company launched hydrotreated vegetable oil diesel on the Finnish market.
Aftermath
HVO became part of St1’s renewable-fuels offering alongside waste-based ethanol and developing biogas services.
2015
Acquire Smart Fuel AS in NorwayM&ABackground
St1 continued its Nordic expansion by entering a larger Norwegian retail and distribution position.
Action taken
St1 acquired Shell’s Norwegian marketing company Smart Fuel AS, including more than 400 retail sites, logistics and direct-sales operations.
Aftermath
St1 expanded its Norwegian presence while continuing Shell-branded retail operations under licence.
2010
Acquire Shell downstream operations in Finland and SwedenM&ABackground
St1 sought greater Nordic scale and stronger vertical integration in refining, logistics and retail.
Action taken
St1 acquired Shell’s downstream operations, including the Gothenburg refinery and approximately 565 filling stations, while retaining Shell branding under licence.
Aftermath
The transaction established a broader Nordic platform and made St1 a significant operator in fuel refining and retail.
Recent events
Sources2 sources
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