ReFuels secures £25m debt facility to double Bio-CNG capacity

ReFuels N.V. announced a £25 million five-year debt facility with Foresight Group to fund the construction of three new high-capacity Bio-CNG refuelling stations. This initiative, combined with operational cash flow, is part of CNG Fuels' strategy to double its UK-wide dispensing capacity to over 20,000 HGVs per day by the end of 2028. The new stations, including confirmed sites at Magor (South Wales) and Swindon (South-West England), will increase network capacity to over 12,500 HGVs per day.

The expansion plan will see at least nine high-capacity stations and additional Mobile Refuelling Units built over the next three years. Bio-CNG offers 85-90% lower CO2 emissions and 25-40% lower costs compared to diesel and HVO biodiesel. The expansion aims for an annual dispensing capacity of over 780 million kilograms of biomethane by 2028, translating to 2 million tonnes of CO2 savings annually.

The debt facility, secured at a 9.5% fixed interest rate with flexible prepayment terms, enables cost-effective expansion. ReFuels projects £8-10 million in EBITDA for 2026 and anticipates annualised EBITDA exceeding £100 million by the end of 2030, driven by an estimated 25% annual growth in truck adoption and the robust market-based Renewable Transport Fuel Certificates scheme.