ReFuels
ReFuels N.V. is a Dutch public company operating through its 40%-owned CNG Fuels subsidiary to supply 100% renewable biomethane (Bio-CNG) and refuelling infrastructure to commercial HGV fleets in the UK, serving major retailers and logistics operators via 16 public stations and 10 mobile refuelling units.
- Company typePublic
- Founded2014
- HeadquartersAmsterdam, Netherlands
- Headcount51–100
- GTM typeB2B
- OfferingServices
What ReFuels does
ReFuels N.V. is a Dutch public limited company listed on Euronext Growth Oslo under the ticker REFL, headquartered in The Hague with operational offices in London. The group operates through its 40%-owned subsidiary CNG Fuels Ltd and its wholly-owned RTFS subsidiary to supply 100% renewable biomethane (Bio-CNG) and refuelling infrastructure to commercial heavy goods vehicle (HGV) fleets in the UK, holding approximately 95% market share of UK CNG truck refuelling.
The company's core product is Bio-CNG, a compressed biomethane derived from food waste and manure that delivers 85-90% lower CO2 emissions and 30-40% lower fuel costs versus diesel. Bio-CNG is delivered through two complementary distribution channels: a network of 16 fixed Public Access Bio-CNG stations strategically located on UK motorway corridors (with 100% availability and simultaneous refuelling for up to 12 HGVs at newer stations), and 10 trailer-based Mobile Refuelling Stations (MRS) deployed at customer distribution centres that can be commissioned within hours. A secondary revenue stream is generated through Renewable Transport Fuel Certificates (RTFCs), awarded at 3.8 certificates per kg of Bio-CNG dispensed under the UK RTFO scheme and sold to obligated fuel suppliers.
ReFuels operates an enterprise field-sales GTM motion targeting UK commercial transport fleet operators and major retailers. As of May 2026, the network refuels approximately 2,250+ trucks daily, with volumes up 7-10% year-over-year. CNG Fuels reported FY2026 EBITDA of GBP 14.2 million (more than doubled versus FY2025) with FY2027 adjusted EBITDA guidance of GBP 16-20 million. The named customer base spans 11+ major UK enterprises including M&S, Tesco, Morrisons, Waitrose, Aldi, Lidl, Amazon, DHL, John Lewis, Warburtons, and Home Bargains. The company is targeting 20,000 HGVs/day capacity and 780 million kg of annual biomethane dispensing by 2028, supported by active station construction (Magor, Swindon), a 2026 GBP 25 million debt facility, and a long-term Foresight Environmental Infrastructure co-investment partnership.
ReFuels firmographics
Firmographics- Name
- ReFuels
- Legal name
- ReFuels N.V.
- Website
- https://refuels.com
- Company type
- Public
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- ReFuels N.V. is a Dutch public company operating through its 40%-owned CNG Fuels subsidiary to supply 100% renewable biomethane (Bio-CNG) and refuelling infrastructure to commercial HGV fleets in the UK, serving major retailers and logistics operators via 16 public stations and 10 mobile refuelling units.
- Ownership category
- akta.pro rank
ReFuels industry classification
Industry- Product category
- Renewable Fuel Infrastructure
- NAICS
- Natural Gas Distribution (2212)
- SIC
- Natural Gas Transmisison & Distribution (4923), Oil & Gas Field Machinery & Equipment (3533)
- akta.pro primary industry
- RNG Liquefaction & Compression (Bio-LNG, Bio-CNG) (EUAAAEAF)
- akta.pro secondary industries
- Renewable Natural Gas (RNG) & Biomethane Trading (EUAGAGAI), Biofuels & Renewable Fuels Switching (Biomethane/RNG, Bio-oils, Sustainable Biomass) (EUABAJAD), Manure & Organic Residuals Feedstock Supply (Farm Organics for AD/RNG) (EUAAAFAK)
Keywords
Where ReFuels is headquartered
LocationHeadquarters
- HQ city
- Amsterdam
- HQ country
- Netherlands
- HQ region
- Europe
Offices2 records
Markets served
ReFuels business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D
Revenue model
- Bio-CNG Fuel Sales: Sale of 100% renewable biomethane (Bio-CNG) to commercial fleet operators through public access stations and mobile refuelling stations. Revenue is volume-based, generated from dispensed fuel quantities. The company has achieved EBITDA positivity with FY2026 EBITDA of GBP 14.2 million.
- Renewable Transport Fuel Certificates (RTFCs): Revenue from Renewable Transport Fuel Certificates awarded at 3.8 certificates per kg of Bio-CNG dispensed, sold to fuel suppliers with blending obligations under UK's RTFO scheme. Forward sales at 25-26 pence per certificate provide margin visibility.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
ReFuels product offering
Product offeringCore offering
ReFuels supplies 100% renewable biomethane (Bio-CNG) fuel to commercial heavy goods vehicle operators through two infrastructure channels: 16 fixed public access refuelling stations across the UK and 10 trailer-based Mobile Refuelling Stations deployed at customer distribution centres. The company sources biomethane from food waste and manure feedstocks via its subsidiary RTFS, and generates additional revenue from Renewable Transport Fuel Certificates (RTFCs) awarded under the UK RTFO scheme.
Product overview
ReFuels operates a fully integrated clean fuel infrastructure platform combining sourcing of renewable biomethane (Bio-CNG), Renewable Transport Fuel Certificates (RTFCs), and ownership and operation of the UK's largest clean fuel station network. The core product is Bio-CNG fuel (compressed biomethane derived from food waste and manure), which is delivered through two complementary delivery mechanisms: a network of 16 fixed Public Access Stations strategically located on UK trucking routes, and Mobile Refuelling Stations (MRS) that provide on-site refuelling capabilities at customer distribution centres. The company generates additional revenue through RTFC certificates.
Differentiator
Problem solved
Functional benefit
Products and services
- Bio-CNG (Compressed Biomethane) 100% renewable biomethane fuel sourced from food waste and manure feedstocks for heavy goods vehicles; delivers 85-90% lower CO2 emissions versus diesel with fuel costs 25-40% lower than diesel equivalents. Sold to commercial fleet operators across the UK.
- Public Access Bio-CNG Stations Network of 16 fixed CNG refuelling stations strategically located on UK motorway corridors, available 24/7 with 100% availability. Newer stations support simultaneous refuelling of up to 12 HGVs with combined daily capacity for over 11,500 trucks.
- Mobile Refuelling Stations (MRS) In-house developed trailer-based CNG refuelling solutions that can be commissioned within hours at customer distribution centres, providing flexible refuelling capacity without fixed infrastructure investment. Currently 10 MRS units deployed under long-term agreements with major retailers.
- Renewable Transport Fuel Certificates (RTFCs) Government-issued certificates generated from Bio-CNG dispensing under the UK RTFO scheme. Awarded at 3.8 certificates per kilogram of Bio-CNG dispensed and sold to obligated fuel suppliers, providing a secondary revenue stream and margin visibility through forward sales at 25-26 pence per certificate.
Quantifiable outcome
- 30-40% fuel cost savings vs diesel
- +5 more outcomes
Companies that use ReFuels
Customer profileNamed customers12 records
Segments2 records
Ideal customer profiles2 records
ReFuels technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
ReFuels partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Scania UKcoreScania UK provides 6x2 CNG trucks as part of fleet partnerships. Partnership with M&S includes collaboration where Scania provides CNG vehicles alongside CNG Fuels' refuelling infrastructure. 26 Scania 6x2 trucks deployed for M&S as part of agreement to expand Bio-CNG fleet to 300+ vehicles.
- Marks & Spencer (M&S)coreLong-term agreement for Mobile Refuelling Stations at UK distribution centres supporting M&S fleet expansion to 300+ Bio-CNG trucks by March 2027. M&S operates 210+ Bio-CNG trucks including ~150 Scania 4x2 and 26 Scania 6x2 vehicles.
Scale indicators10 records
Recent moves8 records
Expansion highlights6 records
ReFuels competitors and assessment
Company assessmentDirect peers
- Gasrec: UK-based supplier of biomethane (Bio-CNG and Bio-LNG) for commercial heavy goods vehicles, operating refuelling infrastructure directly comparable to ReFuels' CNG Fuels subsidiary. The closest direct competitor in the UK HGV Bio-CNG refuelling market.
- Verbio AG: German producer of biomethane, bioethanol and biodiesel, with significant transport-fuel distribution. Comparable in upstream biomethane production and renewable fuel certificate (THG-quote) monetization, serving European commercial fleets.
- Nature Energy: Denmark-based, Europe's largest biomethane producer (acquired by Shell in 2024), supplying RNG to transport and industrial customers. Comparable in upstream biomethane production scale and European transport-sector focus, though owned within a major oil major post-acquisition.
Broad incumbents
- Clean Energy Fuels Corp: US-listed (NASDAQ: CLNE) leader in renewable natural gas (RNG) for transportation, with a public access station network and long-term fleet supply contracts. The North American analogue to ReFuels in business model, though larger and broader in geographic and product scope.
- Shell Mobility: Operates a global network of refuelling stations including CNG and increasingly Bio-CNG/RNG offerings for commercial fleets. Competitor at the infrastructure and fuel-supply level, with significantly greater resources and broader portfolio.
- TotalEnergies: Integrated energy major with growing biomethane production, CNG/LNG refuelling, and renewable fuel certificate trading across Europe. Competitor in fuel supply and increasingly in dedicated low-carbon transport infrastructure.
- BP: Operates a substantial UK and European retail fuel network with growing renewable fuels offering, and is active in biomethane and hydrogen for transport. Competes for fleet customers and increasingly in renewable fuel certificate value chains.
- Air Products and Chemicals: Global industrial gases company with significant biomethane, hydrogen, and renewable energy infrastructure. Adjacent peer given overlap in renewable gas production, refuelling infrastructure expertise, and clean-fuel customer base.
Others
- Scania AB: Truck OEM partner to ReFuels (Scania UK provides 6x2 CNG trucks for M&S and other fleets). Comparable in HGV decarbonization strategy and adjacent in the Bio-CNG value chain — the success of ReFuels' demand is partly a function of Scania's CNG truck roadmap.
Regional players
- CNG Europe: Pan-European CNG refuelling infrastructure and biomethane supply operator focused on Continental Europe. Comparable in business model (CNG refuelling for commercial fleets) but a regional rather than UK-focused competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
ReFuels social profiles
Digital presenceReFuels compliance and trust
Trust signalCompliance3 records
ReFuels financial estimates
Financial estimateRevenue estimate
Valuation estimate
ReFuels leadership team
Management profileNumber of profiles
Profiles7 records
ReFuels subsidiaries and ownership
Company hierarchySubsidiaries2 records
ReFuels funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ReFuels M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ReFuels
What does ReFuels do?
ReFuels supplies 100% renewable biomethane (Bio-CNG) fuel to commercial heavy goods vehicle operators through two infrastructure channels: 16 fixed public access refuelling stations across the UK and 10 trailer-based Mobile Refuelling Stations deployed at customer distribution centres. The company sources biomethane from food waste and manure feedstocks via its subsidiary RTFS, and generates additional revenue from Renewable Transport Fuel Certificates (RTFCs) awarded under the UK RTFO scheme.
Is ReFuels a public or private company?
ReFuels is a public company. It is classified as public and is currently operating.
When was ReFuels founded?
ReFuels was founded in 2014. It employs 51 to 100 people.
Where is ReFuels based?
ReFuels is headquartered in Amsterdam, Netherlands, in the Europe region.
How does ReFuels make money?
Two revenue lines are on record. Bio-CNG Fuel Sales are the primary driver. The others are renewable Transport Fuel Certificates (RTFCs).
Who are ReFuels's main competitors?
Direct peers on record are Gasrec, Verbio AG and Nature Energy. Broad incumbents are Clean Energy Fuels Corp, Shell Mobility, TotalEnergies, BP and Air Products and Chemicals. Scania AB is listed as an others. CNG Europe is listed as a regional player.
Does ReFuels have an API?
No public API is recorded for ReFuels.
What industry is ReFuels in?
ReFuels's product category is Renewable Fuel Infrastructure. Its primary akta.pro industry code is EUAAAEAF, RNG Liquefaction & Compression (Bio-LNG, Bio-CNG), with a secondary code of EUAGAGAI, Renewable Natural Gas (RNG) & Biomethane Trading. Its NAICS code is 2212 and its SIC code is 4923.