Our ambition for Gravenchon
North Atlantic has been a key player in Atlantic Canada’s energy sector for nearly 40 years, with a strong track record of transforming industrial sites into high-performing, future-ready facilities. As a values-driven organization, we have earned the trust of labor, local communities, and government partners. We would bring this same commitment to France, where we aim to be a long-term, responsible owners—aligned with France’s priorities for energy security, industrial resilience, and decarbonization.
The Gravenchon complex is a world-class industrial asset. It has consistently achieved top-quartile performance within the European refining sector and is well-positioned to support the ongoing energy transition. The site has benefited from ExxonMobil’s experienced stewardship to operate successfully for decades – a testament to its quality and potential. North Atlantic’s goal is to build on that legacy through investment and bringing our entrepreneurial agility and operational focus to increase capacity and unlock even greater value from the site.
North Atlantic aims to anchor a broader green energy hub at Gravenchon, leveraging its infrastructure to accelerate deployment of low-carbon fuels and renewable power. The site is well-suited for co-locating energy-intensive industries like AI data centers (a key priority for France), enhancing efficiency and sustainability.
North Atlantic’s operations in Eastern Canada and Saint Pierre and Miquelon will create natural synergies with Gravenchon, maintaining strong utilization rates and supporting trade diversification.
The completion of the sale will remain subject to the satisfaction of regulatory conditions precedent. The proposed sale is expected to close in 4Q 2025.