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
(6x2) 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 6x2 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 6x2 CNG truck was unveiled during the Road Transport Expo in
Stoneleigh, UK, on 4 June. The 44-tonne 6x2 vehicle is the UK's most popular
articulated truck format. In addition, Iveco is also offering an S-WAY 6x2 CNG
truck.
The UK Bio-CNG truck market has been centred around 4x2 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 4x2 trucks are CNG-powered trucks.
The 6x2 market is a six times larger market, comprising 124,000 vehicles. The
new 6x2 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 6x2 truck carries out heavier work than a 4x2 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).