12 June 2023 - Refuels N.V., one of Europe's leading suppliers of renewable biomethane (Bio-CNG) for decarbonisation of heavy goods vehicles, today announces that the CNG Foresight joint venture (JV) has acquired the CNG Fuels operated refuelling station in Newark, the UK, from a company managed by the Ingenious Group.
The station, which commenced operations in May 2021, was developed by the ReFuels subsidiary CNG Fuels and is one of the biggest stations in the UK with the capacity of serving more than 500 heavy goods vehicles per day.
Newark is the ninth station owned by the JV established with Foresight Group to develop Bio-CNG infrastructure to meet the rapidly rising demand for cleaner solutions for goods transport. Foresight Group is an independent UK-based infrastructure and private equity investment manager, which has committed to provide GBP 100 million in funding to the JV. A further six sites are expected to be developed within the JV. CNG Fuels currently operates 10 sites, of which one is wholly owned.
For further information, please contact:
Philip Fjeld, CEO ReFuels N.V.
Tel: +44 7976 159 833
ReFuels is decarbonising Europe's truck fleet by developing, owning, and operating green refuelling station infrastructure. We are rolling out a network of reliable and convenient stations offering renewable biomethane fuel to heavy goods vehicles, with hydrogen and fast charging to be added. By the end-2025 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 refuels.com.