Burges Salmon advises CNG Fuels on financing to accelerate decarbonisation of UK transport

Law firm Burges Salmon has advised CNG Fuels Ltd (CNG Fuels), Europe’s largest supplier of 100 per cent renewable biomethane to the transport industry, in securing a £25m five-year debt facility from The Foresight Group.

The funding, alongside operational cash flow, will enable the construction of three new high-capacity, bio-CNG refuelling stations, supporting CNG Fuels’ strategy to double its UK-wide dispensing capacity by the end of 2028.

Part-owned by Oslo-listed ReFuels N.V, CNG Fuels plans to deliver at least nine high-capacity stations over the next three years, complemented by additional mobile refuelling units. This expansion will increase total network capacity to serve more than 20,000 HGVs by 2028.

This transaction follows Burges Salmon’s advice to CNG Fuels earlier this year to support its transition into a fully integrated, clean-fuel company, creating a leading UK bio-CNG infrastructure platform.

The Edinburgh-based Burges Salmon team advising CNG Fuels was led by partner Stuart McMillan, supported by associate Emily Cranston, solicitor Emer O’Connell and trainees Lui Henderson, Freya Whittaker and Will Starkey, alongside legal apprentice Cuba Kamanu.

Stuart said: "We’re pleased to have once again worked alongside CNG Fuels’ legal team and ReFuels N.V on this significant financing, which will materially advance the decarbonisation of heavy-goods transport across the UK.”

He added: “A particular highlight was the excellent contribution from our junior team members on this deal. Their drive and eagerness to learn made this transaction a real pleasure to deliver.”

Burges Salmon has offices in London, Bristol and Dublin, as well as in Edinburgh.

www.burges-salmon.com  

Photography: Burges Salmon, of Stuart McMillan