Launch of new three-axle (6×2) CNG truck to support future volume growth

5 June 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 announces that Scania UK has launched a new three-axle (6×2) CNG truck, significantly increasing the addressable market to include the preferred vehicle class of UK fleet operators.

“The addition of factory-made CNG versions of the larger and most popular articulated 6×2 truck format will be the single-largest external demand driver for ReFuels and Bio-CNG uptake across the UK in the future. This unlocks a new, large market supporting future volume growth across our station network, and increased fleet decarbonisation,” said Philip Fjeld, CEO and co-founder of ReFuels.

The new Scania 6×2 CNG truck was unveiled during the Road Transport Expo in Stoneleigh, UK, on 4 June. The 44-tonne 6×2 vehicle is the UK's most popular articulated truck format. In addition, Iveco is also offering an S-WAY 6×2 CNG truck.

The UK Bio-CNG truck market has been centred around 4×2 trucks (typically 26-38 tonne), with currently approx. 21,000 registered in the UK, across all fuel types, representing 14% of the total number of articulated trucks in the UK. Based on fleets currently refuelling at ReFuels’ stations, more than 7.5% of all UK-registered 4×2 trucks are CNG-powered trucks.

The 6×2 market is a six times larger market, comprising 124,000 vehicles. The new 6×2 CNG truck offering is expected to greatly increase the number of truck orders from existing and new customer fleets, with factory orders expected to be placed by customers from autumn 2024 onwards.

Furthermore, as a typical 6×2 truck carries out heavier work than a 4×2 truck, the introduction of larger truck models is expected to increase the average per vehicle CNG consumption across ReFuels’ station network.

ReFuels has the UK’s largest network of Bio-CNG refuelling stations, with 14 operational stations, one in-build and a target of 30-40 stations by end-2026

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. 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).

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Scania 6×2 CNG Truck 04 June 2024

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Launch of new three-axle (6×2) CNG truck to support future volume growth

Launch of new three-axle (6x2) CNG truck to support future volume growth
Scania 6x2 CNG Truck 04 June 2024
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