New deal to give CNG refuelling £80m boost

The private equity investment from Foresight Group will fund the acquisition of CNG Fuels’ five existing biomethane refuelling sites, while also facilitating the construction of an additional 14 stations on the UK’s primary trucking routes over the next two years. HGVs that run on biomethane produce 80 per cent fewer emissions than their diesel counterparts, and the technology is viewed by some as pivotal in helping to decarbonise heavy transport, which is resistant to electrification.

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“We expect the number of CNG trucks on UK roads to double in 2021 as fleet operators take action to support the government’s Net Zero targets,” said Baden Gowrie-Smith, chief financial officer of CNG Fuels.

“This exciting partnership with Foresight demonstrates their enthusiasm for biomethane as a solution to decarbonise heavy transport at scale, and the near-term development of more stations will enable us to serve our customers even better by delivering carbon neutral Bio-CNG nationwide. We hope this will give even more brands the confidence to switch from diesel.”