Company Research Report: World Kinect Corporation
1. Company Overview
- Name: World Kinect Corporation
- Mission: To ensure energy is available exactly when and where needed today, while investing in accelerating a more sustainable tomorrow.
- Year Founded and Founders: No information is available.
- Key People: No information is available.
- Headquarters: Miami, Florida, USA
- Number of Employees: Over 5,000 global employees
- Revenue: No information is available.
- Company Recognition: World Kinect is known for being a Fortune 100 leader in the global energy industry. World Kinect provides a broad range of services across aviation, marine, and land-based transportation sectors including fuel and energy solutions as well as sustainability services.
2. Products
- Land Fuels
- Description: Supplies fuel for land-based operations across various sectors.
- Key Features: Offers a single source of conventional or renewable fuels with safe and on-time deliveries.
- Energy Services
- Description: Provides comprehensive energy management solutions.
- Key Features: Includes energy procurement, brokerage, supply and trade, price risk management, energy efficiency audits, decarbonization planning, renewables, and energy attribute certificates.
- Sustainability Services
- Description: Aids companies in reducing carbon footprints and transitioning to renewable energy.
- Key Features: Decarbonization planning, carbon accounting and reporting, power purchase agreements, and renewable energy solutions.
- Aviation Solutions
- Description: Comprehensive solutions for fuel, payment systems, technology solutions, and operational optimization for aviation.
- Key Features: Global trip support, contract fuel pricing, sustainable fuel options, and advanced payment solutions.
- Marine Solutions
- Description: Provides high-quality marine fuels and services.
- Key Features: Offers marine fuels like gasoil and diesel, lubricants, expertise in fuel management, and sustainable solutions for emissions reduction.
3. Recent Developments
- Name Change and Transformation (June 15, 2023): World Kinect announced its name change from World Fuel Services to better reflect its transformation into a diversified energy and solutions corporation.
- Sustainability Ventures (Late 2022): World Kinect formalized its sustainability efforts by launching World Kinect Sustainability Ventures. The focus is on innovation in clean energy, investing in startups offering lower carbon and renewable solutions.
- Sale of Avinode Group (March 12, 2024): World Kinect announced the sale of the Avinode Group, which includes a portfolio of aviation software products.
- Partnerships:
- Investment in Meld Energy (January 18, 2023): World Kinect invested in UK-based Meld Energy, which focuses on developing green hydrogen solutions.
- Technological Enhancements:
- Migration to AWS: Achieved 20% performance improvement and a 50% reduction in mean time to restore by modernizing IT infrastructure.
- Collaboration with Box (August 27, 2024): Enabling better data security and compliance with geographic regulations.
This report captures the current state and strategic direction of World Kinect Corporation as of 2024. Further details and ongoing developments should be monitored through the company's official communications and investor relations pages.
