CNG Fuels makes upstream biomethane acquisition
HGV biomethane supplier CNG Fuels has acquired a majority stake in Renewable Transport Fuel Services Limited (RTFS), an upstream biomethane sourcing company.
CNG Fuels has 10 Bio-CNG (compressed natural gas) stations across the UK, serving more than 80 different customer fleets and a total of around 1,300 HGVs daily. The company claims that biomethane can cut emissions compared to diesel by up to 90 per cent and is the most cost-effective way to reduce the environmental impact of HGVs today. According to CNG Fuels, RTFS is the largest renewable biomethane sourcing company for UK transport.
A new holding company, ReFuels, will now sit above CNG Fuels and RTFS, combining upstream biomethane sourcing with downstream delivery to HGVs on the roads. It’s claimed that ReFuels will be ‘one of Europe’s largest fully integrated renewable biomethane suppliers for heavy transport.’
“Running trucks on Bio-CNG has now become ‘business as usual’ for fleet operators and CNG trucks are being adopted en masse UK-wide as fleet operators recognise Bio-CNG as the most cost-effective and lowest carbon alternative fuel to diesel available today,” said Philip Fjeld, ReFuels and CNG Fuels CEO.
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