ReFuels has announced the acquisition of a biomethane production facility in the Netherlands, Bio Energie Holwerd, marking a move into upstream biomethane production and making the business a fully integrated provider of clean fuels. Management had mooted such a move for a number of years and the completed transaction with Foresight has clearly opened the door to making this feasible. Whilst the operational side of running a biomethane plant comes with additional complexity, it adds optionality for the business and guaranteed bio-CNG volumes with potentially lower transaction costs, which could support earnings growth moving forwards.
