Maven has funded Nottingham-based Roadgas, through MEIF Maven Debt Finance. The business has ambitious growth plans and plans to use the funding to help achieve its goals.
The business designs, manufactures, installs and maintains liquefied and compressed renewable gas refuelling stations, and will use the funding for the installation of dedicated refuelling stations across the UK.
Since 2007, Roadgas has established a strong reputation for its engineering capability and the business has delivered a large number of renewable gas refuelling infrastructure projects to date. It works with several fleet operators across both the public and private sector, including Nottingham City Transport, which owns and operates a fleet of 167 biogas double-decker buses as part of its campaign and commitment to improved air quality.
Growth capital will finance the construction of four new refuelling fuel charging stations in the UK, which will dispense lower carbon density gases only, including bio-BioCNG, b, Bio-LNG and bBiomethane.
David Rix, Managing Director of Roadgas, said: “The exciting expansion plans we have for Roadgas require additional financial support and resources beyond anything the company has seen before. We are delighted to partner with Maven Capital Partners and especially Richard Brighty, who continues to work with us with regard to our financial planning and investments.
“Roadgas has a progressive leadership team, bringing together many years of experience in the gas industry, coupled with an ambitious strategic vision for our continued growth over the next five to seven years to keep us at the forefront of the UK’s green recovery.”
Richard Brighty, investment manager for Maven, said: “Roadgas is delivering an effective solution to the problem of greenhouse gas and carbon emissions in the transport sector. Roadgas is already working with major clients in the haulage and logistics sectors and their strong management team will only accelerate the company’s growth. We look forward to working with David and Becky Rix and watching their team continue to shape and lead this high growth sector.”
