ReFuels enters into a fixed price Bio-CNG agreement with a major UK logistics operator

06 Oct 2025 07:00 CEST

6 October 2025 -- ReFuels N.V., one of Europe's leading suppliers of renewable
biomethane (Bio-CNG) for the decarbonisation of heavy goods vehicles (HGVs),
has entered into a fixed price Bio-CNG agreement for one of Britain's largest
logistics operators.

The agreement is a multi-year contract signed by CNG Fuels (40% owned by
ReFuels), which locks in a fixed price at the fuel dispensers across CNG
Fuels' Bio-CNG station network, providing fuel cost visibility and enabling
the customer to accelerate its transition from diesel to running its fleet of
HGVs on 100% renewable and sustainable biomethane.

"CNG Fuels' first Bio-CNG hedging agreement demonstrates the confidence the
logistics industry has in Bio-CNG as a lasting decarbonisation solution. It
offers our customers price certainty while providing us with visibility on
stable, low-risk multi-year cash flows. We see strong interest from other
fleet operators, and over time, such agreements could account for a material
share of our annual volumes," said Philip Fjeld, CEO and co-founder of
ReFuels.

The current CNG Fuels network of 16 public-access stations in the UK can
refuel more than 10,500 HGVs daily, equivalent to an annual dispensing
capacity of over 340 million kg of biomethane. The company has a clear path to
double the capacity to 20,000 vehicles by the end of 2028, reaching an annual
dispensing capacity of over 780 million kilograms of biomethane. This is
equivalent to 2 million tonnes of CO2 savings per year compared to diesel.

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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 through its 40% ownership of CNG
Fuels - a fully integrated clean fuel infrastructure platform combining
sourcing of renewable biomethane (Bio-CNG), Renewable Transport Fuel
Certificates (RTFCs) and ownership and operation of the UK's largest clean
fuel station network. By the end of 2028, the target is to have a capacity to
serve 20,000 heavy goods vehicles per day, 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

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