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Gasrec is set to turbocharge the rollout of its bio-fuel HGV charging stations across the UK, following energy giant Centrica’s purchase of a 16% stake in the company.
The move sees Centrica become one of three major shareholders in the bio-LNG and bio-CNG producer, alongside bp and private family office 44 north.
Announcing Centrica’s investment, Gasrec said it will help fuel its plans to open a UK wide network of open-access refuelling stations supplying HGVs with renewable bio-LNG and bio-CNG.
Chris O’Shea, Centrica group chief executive, said: “Demand for bio-LNG for transport is growing fast as more HGV operators make the switch – drawn by a clean, ready-to-use fuel which slashes CO2 emissions by up to 85% in comparison to diesel.
“This investment in Gasrec enhances our collaboration with the leading company in the sector, and puts us in a strong position to energise a vital sector of the industry on its journey to net zero.”
Rob Wood, Gasrec chief executive, explained: “Bio-LNG and bio-CNG will play an increasingly important role in decarbonising road transport because it’s safe, affordable, available, and proven in operation.
“As the number of refuelling sites across the strategic road network grows, so too will the viability of gas for more operators. Centrica is confident of this demand, and it saw Gasrec as offering the best opportunity to help it achieve its aims.”
This year Gasrec has already opened three new customer refuelling sites, bringing its network to 18 operational stations across Britain. Construction is currently at an advanced stage in Hams Hall for the firm’s second large-scale open-access refuelling facility – located close to the M6 and M42.
Wood added: “Gas truck registrations are on the rise because fleets trust the technology – it offers dependable performance without the drawbacks of limited range, long refuelling times, driver acceptance issues, or the steep upfront costs associated with some alternatives.
“At the same time, truck manufacturers are putting a renewed focus on their gas-powered models as they are key to achieving strict VECTO (Vehicle Energy Consumption Calculation Tool) targets.
“With both Centrica and bp’s backing, Gasrec is in the enviable position of being able to offer fleets long-term bio-LNG or bio-CNG supply agreements, giving our customers certainty of fuel supply over multiple truck lifetimes.”
