ReFuels N.V., a European biomethane supplier for heavy goods vehicles, has reported third-quarter 2026 EBITDA of £5.6 million through its 40% stake in CNG Fuels, bringing year-to-date EBITDA to £9.7 million—approximately ten times higher than the same period in 2025.
The company has increased its full-year 2026 EBITDA guidance to £13-15 million, up from previous guidance of £10-12 million.
The improvement reflects higher utilisation across the CNG Fuels station network and increased renewable transport fuel certificate prices.
Dispensed volumes of renewable biomethane (Bio-CNG) across the network increased 13% year-over-year, driven by growing adoption of compressed natural gas trucks in the UK heavy goods vehicle market.
CNG Fuels is progressing three new high-capacity stations, which will increase total network capacity to approximately 14,000 HGVs per day.
CEO Philip Fjeld said the company expects continued dispensed volume growth of 15-20% for fiscal 2027, supported by UK fleet replacement cycles and Bio-CNG's cost advantages over alternatives such as hydrotreated vegetable oil (HVO) fuel.
The company targets doubling network capacity by the end of 2028, aiming to serve 20,000 heavy goods vehicles per day.
ReFuels operates through its ownership of CNG Fuels, which combines renewable biomethane sourcing, renewable transport fuel certificates, and the UK's largest clean fuel station network.
ReFuels lifts EBITDA guidance to £13-15m on strong Bio-CNG uptake
