Biomethane Station Data March 2024

11 Apr 2024 07:00 CEST

11 April 2024 - ReFuels N.V., one of Europe's leading suppliers of renewable
biomethane (Bio-CNG) for the decarbonisation of heavy goods vehicles, today
published Bio-CNG station data for March 2024.

* A total volume of 4,425 tonnes of Bio-CNG was dispensed from 13 public
access refuelling stations in operation during March 2024. This is a new
record and is an increase of 39% from 3,183 tonnes in March 2023 (10
stations)
* The average daily dispensed volume was 143 tonnes in March 2024, compared to
142 tonnes dispensed per day in February 2024
* For the three months ending 31 March 2024, the total dispensed volume was
12,869 tonnes, an increase of 47% compared to the three months ending 31
March 2023
* In March, a daily average of 1,684 vehicles refuelled at ReFuels' Bio-CNG
stations, compared to 1,250 vehicles for the same period last year

"More and more fleet operators are turning to Bio-CNG as an environmentally
friendly fuel which also has clear cost advantages compared to running a
conventional diesel engine. This is reflected in continued growth in dispensed
volumes in March, despite the Easter holiday, which has a significant impact
on transport activity. We expect a large number of new Bio-CNG trucks to hit
the road in April and ReFuels' expanding network of refuelling stations is
instrumental in making this clean fuel accessible across the UK," said Philip
Fjeld, CEO of ReFuels.

ReFuels had 153 unique customer fleets refuelling across the network at the
end of March 2024, compared to 119 at the end of March 2023.

ReFuels generates additional revenue from market-based certificates (RTFC),
which are sold to fuel suppliers with a blending obligation. At the end of
March 2024, the UK government proposed to impose a 6.5% duty on imported
biodiesel from May 2024 to close a current loophole in the market. This is
expected to improve and rebalance the competitive position of domestically
produced biodiesel.

"The import duty for biodiesel has positively impacted RTFC prices. The spread
between one litre of fossil diesel and one litre of waste-based biodiesel was
already on the rise and is rapidly approaching a 12-month high," said Philip
Fjeld.

Through the CNG Fuels brand, ReFuels operates 13 public access Bio-CNG
stations on major trucking routes in the UK. The group has two stations under
construction, one in Aylesford in Southeast England and one in Doncaster in
South Yorkshire which is one of the UK's largest logistics hubs.

ReFuels provides monthly operational updates, which are normally released
within ten working days after the end of the month.

To receive ReFuels' stock exchange and press releases via email, subscribe at
refuels.com/investors

For further information, please contact:
Philip Fjeld, CEO ReFuels N.V.
Tel: +44 7976 159 833
E-mail: Philip.Fjeld@refuels.com

About ReFuels
ReFuels is decarbonizing Europe's truck fleet by developing, owning, and
operating green station infrastructure. We are rolling out a network of
reliable and convenient stations offering renewable biomethane fuels to heavy
goods vehicles, with hydrogen and electricity to be added. By end-2026 the
target is to have 30-40 stations across the UK, while the long-term ambition
is to become Europe's leading integrated supplier of alternative fuels for
commercial fleets. For further information please visit www.refuels.com
(http://www.refuels.com./).

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 19 no. 3. The information was submitted for publication
at 2024-04-11 07:00 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

615543_Operational Update Mar 2024.pdf
615543_Biomethane Station Data March 2024.pdf