Refuels N.V. — M&A Activity 2025

Aug 8, 2025

ReFuels strengthens integrated clean fuels platform through acquisition of biomethane plant

ReFuels strengthens integrated clean fuels platform through acquisition of biomethane plant

8 August 2025 -- ReFuels N.V. (ticker: REFL), a leading European supplier of

renewable biomethane (Bio-CNG) for decarbonising heavy goods vehicles (HGVs),

has acquired Bio Energie Holwerd with its biomethane production facility in

the Netherlands, and thereby becomes a fully integrated provider of clean

fuels.

The acquisition is made through Renewable Transport Fuel Services (RTFS), a

subsidiary of CNG Fuels in which ReFuels owns a 40% interest. The transaction

is in line with ReFuels' strategy of building a vertically integrated clean

fuels platform and enhances supply flexibility amid growing end-user demand

for biomethane.

The anaerobic digestion plant started operations in 2014 and is located in

Holwerd. It produces 13 GWh of biomethane annually from waste, which is

injected into the gas grid and qualifies for UK Renewable Transport Fuel

Certificates (RTFCs), thereby enabling decarbonisation of UK logistics.

"The acquisition complements our unique refuelling position in the UK by

providing increased optionality in our upstream sourcing. Our focus remains on

long-term offtake agreements with large-scale producers, but selective

investments like this one strengthen our sourcing position and provide

additional insights across the value chain," said Jasper Nillesen, Executive

Director of ReFuels and CEO of RTFS.

CNG Fuels' current station network serves over 2,000 HGVs in the UK and is

expected to dispense close to 1 TWh of Bio-CNG during the calendar year 2025.

Demand from fleet operators continues to grow, as biomethane HGVs have lower

emissions and fuel costs than diesel-powered trucks. The company aims to

double its capacity to 20,000 HGVs per day by end-2028.

"We're building a future-proof platform with the scale and flexibility needed

to support Europe's transition away from diesel in the heavy transport sector.

By integrating select upstream capabilities alongside our expanding network of

refuelling stations, we are better positioned to serve our customers reliably,

sustainably and at scale," added Nillesen.

The acquisition is financed through available cash and will continue

operations under the existing local management team. RTFS will look to

optimise the site over time and assess expansion in line with permit

allowances, feedstock developments and commercial priorities.

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 through its 40% ownership of CNG

Fuels -- a fully integrated clean fuel infrastructure platform combining

sourcing of renewable biomethane (Bio-CNG), Renewable Transport Fuel

Certificates (RTFCs) and ownership and operation of UK's largest clean fuel

station network. By end-2028, the target is to have a capacity to serve 20,000

heavy goods vehicles per day 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

This information has been submitted pursuant to the Securities Trading Act §

5-12 and MAR Article 17. The information was submitted for publication at

2025-08-08 07:00 CEST.