Biomethane Station Data May 2024

12 Jun 2024 07:40 CEST

12 June 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 May 2024.

* A record volume of 4,630 tonnes of Bio-CNG was dispensed from 14 public
access refuelling stations in operation during May 2024, an increase of 29%
from 3,495 tonnes in May 2023 (10 stations).
* The average daily dispensed volume was 149.4 tonnes in May 2024, compared to
116 tonnes dispensed per day in May 2023.
* For the three months ending 31 May 2024, the total dispensed volume was
13,549 tonnes, an increase of 36% compared to the three months ending 31 May
2023.
* In May, a daily average of 1,761 vehicles were refuelled at ReFuels' Bio-CNG
stations, compared to 1,353 vehicles for the same period last year.
* Two manufacturers are now offering 6x2 CNG trucks, and we expect well in
excess of 100 trucks in operation across the station network by December
2024, with a significant further increase expected in 2025.

"ReFuels delivers another record month with a strong year-over-year volume
increase as we are nearing an average of 2,000 heavy-duty vehicles using our
station network to fill 100% renewable and sustainable low-carbon Bio-CNG
daily. This supports the delivery of our growth strategy and has a significant
impact on reducing carbon emissions from the UK transport sector. We expect
the Bio-CNG fleet expansion to continue, supporting further volume and
utilisation growth across our current station portfolio and the planned
roll-out of new sites," said Philip Fjeld, CEO of ReFuels.

ReFuels had 173 unique customer fleets refuelling across the network in the
three months ending 31 May 2024, compared to 128 for the comparable period in
2023.

Through the CNG Fuels brand, ReFuels operates 14 public access Bio-CNG
stations on major trucking routes in the UK, capable of refuelling more than
9,500 CNG trucks per day. In May, the group opened a new refuelling station at
Aylesford in Kent. This is it the first public access station in Southeast
England, a region with a population of more than 9 million. ReFuels has one
station under construction in Doncaster in South Yorkshire, one of the UK's
largest logistics hubs, and is targeting to have 30-40 stations in operation
by end-2026.

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 decarbonising 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 2024-06-12 07:40 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

621216_Operational Update May 2024.pdf
621216_Biomethane Station Data May 2024.pdf