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Maven invests in Nottingham-based renewable gas refuelling station supplier Roadgas

Maven invests in Nottingham-based renewable gas refuelling station supplier Roadgas

Nottingham-based supplier of renewable gas refuelling stations, Roadgas Ltd (“Roadgas”), has secured funding from MEIF Maven Debt Finance, part of the Midlands Engine Investment Fund (MEIF), managed by Maven Capital Partners (“Maven”).

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.

Established in 2007, Roadgas works with several fleet operators, 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.

David Rix, Managing Director of Roadgas, explained:

“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.”

Lewis Stringer, Senior Manager UKN, British Business Bank, said:

“The MEIF has continued to invest and support sustainable businesses to help drive green growth in the region and support UK Government’s Net Zero 2050 targets. It’s good to see that Roadgas will use the investment to increase the rollout of its renewable gas refilling stations across the UK. We encourage other green and low carbon companies in the Midlands to consider MEIF funding to support their growth plans.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

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