UK biofuel supplier to Amazon, Royal Mail plans to list in Norway

ReFuels, a Dutch biofuel company with its operations based in the UK, has chosen to list in Norway rather than London.

One of Europe’s largest suppliers of renewable biomethane for heavy goods vehicles, the company said its £120mln listing would be on the Oslo Stock Exchange as it is an “energy exchange”.

It pointed out that the Oslo exchange has more than 100 companies within the energy and shipping sector, attracting a wide range of international investors.

ReFuels’ two UK operating companies are CNG Fuels, which develops, owns and operates Bio-CNG refuelling infrastructure across the UK for customers including Amazon, Royal Mail, DHL, Aldi and Lidl; and Renewable Transport Fuel Services, a specialists in sourcing and supplying renewable biomethane for transport in Europe.

“Over the last few years, Euronext Solo has attracted several companies dedicated to the energy transition.

“A listed share and diversified shareholder base will enable ReFuels to raise further capital as and when needed,” a company spokesperson said.

With demand said to be “skyrocketing”, it plans to grow its network of 10 UK refueling stations to between 30 and 40 stations in the UK by 2025, allowing it to serve the daily needs of 20,000 HGVs.

In the long term to grow add more stations, expand into other European markets and include hydrogen and electricity as part of a full-service green refuelling range.