NextNRG Signs LOI to Acquire ReFuel Mobile, Preparing for International Expansion with Canadian Mobile Fueling Leader
NextNRG (NASDAQ: NXXT) has signed a letter of intent to acquire ReFuel Mobile, a leading Canadian mobile fueling company, marking its first international expansion. ReFuel, ranked #36 on Globe and Mail's fastest-growing companies with 1,166% three-year revenue growth, serves commercial and industrial clients across Ontario.
The acquisition terms include purchasing 100% of ReFuel's stock, payable in cash or NextNRG restricted common stock, with closing expected by August 1, 2025. ReFuel's AWS-hosted software platform will integrate with NextNRG's technology infrastructure, enhancing service delivery efficiency.
NextNRG has shown strong performance with May 2025 revenue of $6.6 million, representing 148% year-over-year growth. Year-to-date revenue through May reached $28.89 million, already exceeding full-year 2024 revenue of $27 million. The company projects forward 12-month revenues of $100 million following this strategic addition.
NextNRG (NASDAQ: NXXT) ha firmato una lettera d'intenti per acquisire ReFuel Mobile, una delle principali aziende canadesi di rifornimento mobile, segnando la sua prima espansione internazionale. ReFuel, classificata al #36 nella lista delle aziende in più rapida crescita secondo Globe and Mail con una crescita del fatturato del 1.166% in tre anni, serve clienti commerciali e industriali in tutta l'Ontario.
I termini dell'acquisizione prevedono l'acquisto del 100% delle azioni di ReFuel, pagabili in contanti o in azioni comuni ristrette di NextNRG, con la chiusura prevista entro il 1 agosto 2025. La piattaforma software di ReFuel, ospitata su AWS, sarà integrata con l'infrastruttura tecnologica di NextNRG, migliorando l'efficienza nella fornitura dei servizi.
NextNRG ha mostrato una forte performance con un fatturato di 6,6 milioni di dollari a maggio 2025, pari a una crescita del 148% su base annua. Il fatturato da inizio anno fino a maggio ha raggiunto 28,89 milioni di dollari, superando già il fatturato totale del 2024 di 27 milioni di dollari. L'azienda prevede ricavi per i prossimi 12 mesi pari a 100 milioni di dollari grazie a questa aggiunta strategica.
NextNRG (NASDAQ: NXXT) ha firmado una carta de intención para adquirir ReFuel Mobile, una destacada empresa canadiense de suministro móvil de combustible, marcando su primera expansión internacional. ReFuel, ubicada en el puesto #36 en la lista de las empresas de más rápido crecimiento según Globe and Mail, con un crecimiento de ingresos del 1,166% en tres años, atiende a clientes comerciales e industriales en Ontario.
Los términos de la adquisición incluyen la compra del 100% de las acciones de ReFuel, pagaderas en efectivo o en acciones comunes restringidas de NextNRG, con cierre esperado para el 1 de agosto de 2025. La plataforma de software de ReFuel alojada en AWS se integrará con la infraestructura tecnológica de NextNRG, mejorando la eficiencia en la prestación de servicios.
NextNRG ha mostrado un sólido desempeño con ingresos de 6.6 millones de dólares en mayo de 2025, representando un crecimiento interanual del 148%. Los ingresos acumulados hasta mayo alcanzaron 28.89 millones de dólares, superando ya los ingresos totales de 2024 de 27 millones de dólares. La compañía proyecta ingresos para los próximos 12 meses de 100 millones de dólares tras esta adición estratégica.
NextNRG (NASDAQ: NXXT)는 캐나다의 선도적인 모바일 연료 공급 회사인 ReFuel Mobile 인수를 위한 양해각서에 서명하며 첫 번째 국제 확장을 시작했습니다. ReFuel은 Globe and Mail의 가장 빠르게 성장하는 기업 중 36위에 올랐으며, 3년간 매출 성장률 1,166%를 기록했으며 온타리오 전역의 상업 및 산업 고객에게 서비스를 제공합니다.
인수 조건은 ReFuel의 주식 100%를 현금 또는 NextNRG 제한 보통주로 지급하는 것으로, 거래 마감은 2025년 8월 1일로 예상됩니다. ReFuel의 AWS 호스팅 소프트웨어 플랫폼은 NextNRG의 기술 인프라와 통합되어 서비스 제공 효율성을 향상시킬 것입니다.
NextNRG는 2025년 5월 매출 660만 달러를 기록하며 전년 대비 148% 성장을 보였습니다. 5월까지 누적 매출은 2,889만 달러로 2024년 전체 매출 2,700만 달러를 이미 초과했습니다. 회사는 이번 전략적 인수를 통해 향후 12개월 매출을 1억 달러로 예상하고 있습니다.
NextNRG (NASDAQ : NXXT) a signé une lettre d'intention pour acquérir ReFuel Mobile, une entreprise canadienne leader dans la distribution mobile de carburant, marquant ainsi sa première expansion internationale. ReFuel, classée 36e parmi les entreprises à la croissance la plus rapide selon Globe and Mail avec une croissance du chiffre d'affaires de 1 166 % sur trois ans, sert des clients commerciaux et industriels dans toute l'Ontario.
Les conditions de l'acquisition prévoient l'achat de 100 % des actions de ReFuel, payable en espèces ou en actions ordinaires restreintes de NextNRG, avec une clôture prévue d'ici le 1er août 2025. La plateforme logicielle de ReFuel hébergée sur AWS sera intégrée à l'infrastructure technologique de NextNRG, améliorant ainsi l'efficacité de la prestation des services.
NextNRG a affiché de solides performances avec un chiffre d'affaires de 6,6 millions de dollars en mai 2025, représentant une croissance annuelle de 148 %. Le chiffre d'affaires cumulé depuis le début de l'année jusqu'en mai a atteint 28,89 millions de dollars, dépassant déjà le chiffre d'affaires total de 2024 de 27 millions de dollars. La société prévoit un chiffre d'affaires sur 12 mois de 100 millions de dollars suite à cette acquisition stratégique.
NextNRG (NASDAQ: NXXT) hat eine Absichtserklärung zur Übernahme von ReFuel Mobile, einem führenden kanadischen mobilen Betankungsunternehmen, unterzeichnet und markiert damit seine erste internationale Expansion. ReFuel, auf Platz 36 der am schnellsten wachsenden Unternehmen laut Globe and Mail mit einem dreijährigen Umsatzwachstum von 1.166%, bedient gewerbliche und industrielle Kunden in ganz Ontario.
Die Übernahmebedingungen sehen den Kauf von 100 % der ReFuel-Aktien vor, zahlbar in bar oder in eingeschränkten Stammaktien von NextNRG, mit einem erwarteten Abschluss bis zum 1. August 2025. Die von AWS gehostete Softwareplattform von ReFuel wird in die technologische Infrastruktur von NextNRG integriert, um die Effizienz der Servicebereitstellung zu verbessern.
NextNRG hat mit einem Umsatz von 6,6 Millionen US-Dollar im Mai 2025 eine starke Leistung gezeigt, was einem Wachstum von 148 % im Jahresvergleich entspricht. Der Umsatz von Jahresbeginn bis Mai erreichte 28,89 Millionen US-Dollar und übertrifft damit bereits den Gesamtumsatz 2024 von 27 Millionen US-Dollar. Das Unternehmen prognostiziert nach dieser strategischen Ergänzung einen Umsatz von 100 Millionen US-Dollar für die nächsten 12 Monate.
- ReFuel Mobile demonstrates 1,166% three-year revenue growth and current profitability
- NextNRG shows 148% year-over-year growth with May 2025 revenue of $6.6 million
- Year-to-date revenue of $28.89 million already exceeds full-year 2024 revenue
- Acquisition provides entry into Canadian market with established, profitable operations
- Integration of ReFuel's AWS-hosted software platform will enhance operational efficiency
- Acquisition completion is subject to due diligence, audited financials, and definitive agreement
- Deal requires retention of all current employees during transition period, potentially limiting restructuring options
Insights
NextNRG's acquisition of ReFuel Mobile expands international presence, adds profitable operations, and strengthens recurring revenue with projected $100M annual revenue.
This strategic acquisition represents NextNRG's first international expansion, adding ReFuel Mobile's established Canadian operations to its mobile fueling portfolio. The deal brings significant upside with ReFuel's impressive 1,166% three-year revenue growth (ranked #36 on Globe and Mail's fastest-growing companies) and profitable recurring revenue model with minimal customer churn.
The transaction structure is favorable, giving NextNRG flexibility to pay with either cash or restricted common stock. Current management will remain during transition, preserving operational continuity and institutional knowledge. The expected August 1, 2025 closing timeline appears reasonable for completing due diligence and securing audited financials.
NextNRG's own financial trajectory shows strong momentum with
Beyond financial impact, this acquisition provides NextNRG with technological synergies through integration of ReFuel's AWS-hosted software platform with NextNRG's existing technology infrastructure. The combined entity gains immediate access to Ontario's commercial and industrial sectors, with planned expansion into additional Canadian markets including Ottawa, Kingston, and Montreal.
The strategic fit aligns with NextNRG's AI-driven energy innovation focus while adding complementary services and established relationships with notable customers like Napa Auto Parts and Autos Canada. This acquisition builds upon NextNRG's recent domestic expansion across six U.S. states and follows its inclusion in the Russell 2000® and Russell 3000® indexes, positioning the company for accelerated growth in the on-demand energy sector.
Acquisition adds profitable, high-growth platform serving Ontario's commercial and industrial sectors while expanding NextNRG's mobile fueling operations into Canada
ReFuel Mobile ranked #36 on Globe and Mail's fastest-growing companies with 1,
MIAMI, June 30, 2025 (GLOBE NEWSWIRE) -- NextNRG, Inc. (NASDAQ: NXXT), a pioneer in AI-driven energy innovation transforming how energy is produced, managed, and delivered through its Next Utility Operating System®, smart microgrids, wireless EV charging, and mobile fuel delivery, today announced it has signed a letter of intent to acquire ReFuel Mobile (“ReFuel”) (2583231 Ontario Inc.), a leading Canadian mobile fueling company.
This acquisition marks NextNRG’s entry into international markets through the addition of an established, profitable operation in Canada’s largest province. ReFuel, founded in 2016 and based in Ontario, Canada, specializes in direct-to-vehicle and direct-to-equipment fuel delivery, serving commercial and industrial clients across transportation, construction, logistics, telecom, municipalities, dealerships, and industrial fleet sectors.
ReFuel has demonstrated an exceptional growth trajectory, ranking #36 on the Globe and Mail's list of Canada's fastest-growing companies with a remarkable 1,
Under the terms of the non-binding letter of intent, NextNRG will acquire
"This strategic acquisition marks an important milestone as we extend NextNRG's mobile fueling leadership into international markets," said Michael D. Farkas, Founder and CEO of NextNRG. "ReFuel's proven track record of profitable growth, exceptional customer retention, and established market presence in Ontario positions us to capitalize on expanding opportunities across Canada. Their technology-driven approach and operational excellence align perfectly with our strategy of scaling AI-optimized energy solutions globally. The combination of this strategic addition with our accelerating organic growth gives us confidence that forward 12-month revenues of
The acquisition builds on NextNRG's recent domestic expansion across six U.S. states with its fleet of 144 active fuel delivery trucks, and follows the company's strategic partnership with Hudson Sustainable Group and inclusion in the Russell 2000® and Russell 3000® indexes. ReFuel’s proprietary AWS-hosted software platform for operations and customer scheduling will integrate with NextNRG's existing technology infrastructure to enhance service delivery and operational efficiency.
ReFuel currently serves the Greater Toronto Area (GTA), Hamilton, Oakville, London, and Kitchener markets with plans to expand into additional Ontario regions including Ottawa and Kingston, as well as Quebec markets including Montreal. The company holds TSSA certification and maintains full compliance with federal and provincial fuel handling and safety regulations. Refuel’s customers include: Napa Auto Parts, Autos Canada, Magil Construction, and Fanshawe College.
"We're excited to join the NextNRG family and leverage their resources and technology to accelerate our expansion plans," said Ashraf Ghadban, Co-Founder and CEO of ReFuel Mobile, who plans to stay on and assist with the transition. "This transaction will enable Refuel to enhance its service offerings, expand its geographic reach, and continue delivering exceptional value to its growing customer base across Canada."
The acquisition is expected to immediately contribute to NextNRG's recurring revenue base while providing a strategic platform for further expansion across Canada and potential entry into additional international markets. ReFuel's focus on innovation includes plans to expand into biofuels and bulk DEF solutions, aligning with NextNRG's commitment to advancing sustainable energy adoption.
NextNRG has demonstrated strong momentum, with preliminary May 2025 revenue of
About ReFuel Mobile
Founded in 2016 with the mission to simplify and modernize on-demand fuel delivery, ReFuel Mobile serves commercial and industrial clients across Ontario, Canada. The company specializes in direct-to-vehicle and direct-to-equipment fuel delivery, offering convenient, cost-effective, and reliable solutions to businesses across dealerships, transportation, logistics, construction, telecom, and energy sectors. With a focus on innovation, ReFuel Mobile is modernizing traditional fueling through a mobile-first, efficient model backed by strong operational execution and proprietary technology. The company was ranked #36 on the Globe and Mail's list of Canada's fastest-growing companies with 1,
About NextNRG, Inc.
NextNRG Inc. (NextNRG) is Powering What's Next by implementing artificial intelligence (AI) and machine learning (ML) into renewable energy, next-generation energy infrastructure, battery storage, wireless electric vehicle (EV) charging and on-demand mobile fuel delivery to create an integrated ecosystem.
At the core of NextNRG's strategy is its Next Utility Operating System®, which leverages AI and ML to help make existing utilities' energy management as efficient as possible; and the deployment of NextNRG smart microgrids, which utilize AI-driven energy management alongside solar power and battery storage to enhance energy efficiency, reduce costs and improve grid resiliency. These microgrids are designed to serve commercial properties, healthcare campuses, universities, parking garages, rural and tribal lands, recreational facilities, and government properties, expanding energy accessibility while supporting decarbonization initiatives.
NextNRG continues to expand its growing fleet of fuel delivery trucks and national footprint, including the acquisition of Yoshi Mobility's fuel division and Shell Oil's trucks, further solidifying its position as a leader in the on-demand fueling industry. NextNRG is also integrating sustainable energy solutions into its mobile fueling operations. The company hopes to be an integral part of assisting its fleet customers in their transition to EV, providing fuel delivery while advancing efficient energy adoption. The transition process is expected to include the deployment of NextNRG's innovative wireless EV charging solutions.
To find out more visit: www.nextnrg.com
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement describing NextNRG's goals, expectations, financial or other projections, intentions, or beliefs is a forward-looking statement and should be considered an at-risk statement. Words such as "expect," "intends," "will," and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, including, but not limited to, those related to NextNRG's business and macroeconomic and geopolitical events. These and other risks are described in NextNRG's filings with the Securities and Exchange Commission from time to time. NextNRG's forward-looking statements involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although NextNRG's forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by NextNRG. Except as required by law, NextNRG undertakes no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements.
Investor Relations Contact:
NextNRG, Inc.
Sharon Cohen
SCohen@nextnrg.com
