ReFuels enters into long-term biomethane offtake agreement with Green2x
12 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, has signed a long-term commercial partnership with Green2x, an ambitious and innovative leader in the large-scale production of biomethane and green fuels.
The collaboration will entail a long-term biomethane supply and offtake partnership which aims to accelerate the decarbonisation of the UK road transport sector, a key market underpinned by a strong regulatory foundation and increasing demand for sustainable fuel solutions.
“The commercial cooperation between Green2x and ReFuels is our largest offtake agreement to date and part of the strategy to ensure sufficient biomethane supply for our rapidly growing demand that is driven by fleet owners looking for an economically viable solution to decarbonise their operations. Further, it demonstrates that our biomethane offtake experience and Bio-CNG station infrastructure is making us an attractive counterparty for large biomethane offtake agreements,” said Jasper Nillesen, Executive Director of ReFuels.
Green2x is currently developing one of the world’s largest biomethane production plants at the Port of Vordingborg, Denmark, capable of producing over 175 million normal cubic meters of biomethane, equal to ~2 TWh of energy produced per year, from late 2027/early 2028. Leveraging cutting-edge technology, Green2x extracts energy from agricultural leftovers, such as straw, which remains after harvesting.
The UK road transport market offers a solid base for long-term offtake from biomethane producers. The partnership with ReFuels provides Green2x with a critical route to this attractive and growing market. ReFuels is deeply embedded in the biomethane value chain, from production to the ownership and operation of large-scale refuelling stations for Bio-CNG in the UK with 14 stations in operation, two in build and plans for 30-40 stations by the end of 2026. The company’s substantial investments in this sector make it an ideal partner for Green2x’s ambitious biomethane production goals.
“I am extremely pleased with this strategic partnership, as Green2x and ReFuels are on a shared mission to decarbonise the hard-to-abate industries, such as heavy road transport. We have a like-minded approach to developing the market for green fuels and look very much forward to continuing to push this ambitious agenda together,” said Mikkel Sjølin Kiil, CEO of Green2x.
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 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./).