Refuels N.V (REFL:Euronext) delivered a strong Q3 2026 investor update highlighting accelerating company performance, improved financial results, and continued expansion of its biomethane refuelling network for heavy goods vehicles across the United Kingdom. Through its 40 percent stake in CNG Fuels, the company supplies around half of the biomethane used in UK trucks, supporting more than 2200 vehicles daily and enabling customers to reduce greenhouse gas emissions by 85 to 90 percent while lowering fuel costs. During the quarter the business reported revenue growth of 22 percent year to date, a 72 percent increase in gross profit to £10 million, and EBITDA of £5.6 million compared with breakeven in the prior year period, reflecting scale efficiencies, higher certificate prices, and rising fuel volumes. Quarterly EBITRA reached £9.7 million, representing a tenfold increase year on year, prompting management to raise full year guidance to £13 to £15 million. Operational momentum was supported by a 13 percent rise in fuel volumes and record generation of 82.2 million renewable transport fuel certificates, while margins improved to over 30 percent on certificate sales. The company continues to invest in growth strategy and infrastructure, operating 16 grid connected stations and 11 mobile refuelling sites with plans to expand to 25 stations and around 30 mobile units by 2028 to meet increasing demand for low carbon trucking. Despite a soft haulage market, adoption of compressed natural gas trucks is expanding, particularly as new 6 by 2 vehicle models enter the market. With strong order interest, long term biomethane supply visibility, and forward sold certificates providing earnings stability, Refuels believes it is transitioning from an infrastructure build phase to a cash flow generating platform, positioning the business for sustained revenue growth, improving margins, and long term value creation in the decarbonisation of heavy transport.