Presentation

Through subsidiary CNG Fuels (founded in 2014), ReFuels is the UK market leader within biomethane refueling stations for Heavy Goods Vehicles (HGV) with a market share of 90%. There is a clear trend of Heavy Goods Vehicles converting to biomethane – driven by substantial cost benefits and regulatory tailwinds. It has 10 operating stations in the UK today with a roadmap to an additional 120 stations in the longer term (30-40 mid-term), as well as plans to expand into the rest of Europe. ReFuels serves a Blue-chip customer base including the likes of Amazon, DHL, Waitrose and Royal Mail.

ReFuels has a run-rate annual EBITDA of GBP 15m (based on Nov'22 figures). It is a privately held company, owned mainly by the founders and management. Foresight Infrastructure Group has invested in a JV structure with the company on site basis.