In the UK, ReFuels N.V. announced that CNG Fuels has entered into a GBP 25 million five-year debt facility with funds managed by the Foresight Group. Together with cash flow from operations, the facility will fund the construction of three new high-capacity Bio-CNG refuelling stations as part of the company’s strategy to double UK-wide dispensing capacity by the end of 2028.
The new stations include confirmed sites at Magor (South Wales) and Swindon (South-West England) and will increase the capacity of CNG Fuels’ network to more than 12,500 HGVs per day. They are further expected to unlock significant future orders from existing and new customers, including strong uptake of the new, larger 6×2 gas-powered trucks.
In total, CNG Fuels (40% owned by ReFuels) plans to build out at least nine high-capacity stations over the next three years, complemented by a fleet of additional Mobile Refuelling Units (MRS), bringing the total capacity to more than 20,000 HGVs by end-2028. The station roll-out towards the end of 2028 will be fully funded through cash flow from operations and the debt facility.
