Correction: ReFuels first quarter 2025: Strong growth in Bio-CNG volumes and promising market development

06 Sep 2024 08:37 CEST

ReFuels first quarter 2025: Strong growth in Bio-CNG volumes and promising
market development

06 September 2024: ReFuels N.V. (ticker: REFL) ("ReFuels"), one of Europe's
leading suppliers of renewable biomethane (Bio-CNG) for the decarbonisation of
heavy goods vehicles, today releases its interim report and presentation for
the first quarter of 2025.

Key events in the period:

* 13,582 tonnes of renewable biomethane (Bio-CNG) dispensed in the quarter, up
30% compared to the same period last year
* Annualised EBITDA run-rate across the station portfolio of GBP 6.9m in Q1;
expected to be GBP >12m by end of financial year
* Increased value from Renewable Transport Fuel Certificates (RTFCs) driven by
falling biomethane cost and improving RTFC pricing fundamentals
* New flagship customer which plans to increase its fleet with hundreds of CNG
trucks over the coming years
* More than 100 6x2 trucks ordered from Iveco and long waiting lists for
Scania demonstrations
* Opened Southeast England's first station and commenced construction of
station between Edinburgh and Glasgow
* Four attractive sites ready to be developed, increasing capacity to 13,000
vehicles and 440,000 tonnes Bio-CNG per year
* Agreement reached with funds managed by the Foresight Group to simplify the
group's ownership of station infrastructure and biomethane supply activities

"Local and national-wide fleet owners are moving towards mass-adoption of CNG
trucks due to lower cost and CO2 emissions compared to diesel. In addition,
there is a strong network effect of ReFuels' roll-out of refuelling
infrastructure near key logistics hubs, last with the opening of Aylesford in
Southeast England and construction of Livingston in Scotland. Interest for the
new and larger 6x2 trucks, representing the largest heavy goods vehicles
segment in the UK, has been tremendous with more than 100 units ordered from
Iveco and long waiting lists for trials of Scania's 6x2 model. Further, we
have progressed our discussions with Foresight to simplify the ownership
structure of the station network and expect to conclude these discussions
before year-end." said Philip Fjeld, CEO and co-founder of ReFuels.

ReFuels will present its first quarter 2025 results during a webcast at 10:00
CEST today. The presentation will be held by CEO Philip Fjeld and CFO Baden
Gowrie-Smith. Please join the webcast via the following link:
https://my.demio.com/ref/eqx1sA7Zl6TrfxJn

A recorded version of the presentation will also be available after the
webcast is concluded.

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

Baden Gowrie-Smith, MD & CFO, Refuels N.V.
Tel.:+44 7768 007 009
E-mail: baden.gowrie-smith@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 the end of 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 17. The information was submitted for publication at
2024-09-06 08:37 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

627188_ReFuels Q1 2025 Presentation.pdf
627188_ReFuel Q1 2025 Report.pdf