Refuels N.V. - Capital/Financing Update 2023

Refuels N.V. CNG Foresight joint venture acquires refuelling station in Newark

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

About ReFuels

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.

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