EzFill Holdings, Inc. Finalizes Letter of Understanding for Purchase of 78 Trucks from Shell
Rhea-AI Summary
EzFill Holdings (NASDAQ: EZFL) has executed a term sheet with Shell Retail and Convenience Operations to acquire 78 trucks from Shell's fleet. This acquisition will enable EzFill to begin fuel delivery operations in Phoenix, San Antonio, Austin, Dallas, and Houston. The deal will more than double EzFill's fleet to 144 trucks and expand its geographic presence across 13 key markets, including Miami, Orlando, Jacksonville, Tampa, Los Angeles, San Francisco, Detroit, and Nashville. The company will utilize these trucks to service a large retailer's fleet and other customers in Texas and Arizona markets. This expansion follows EzFill's recent acquisition of Yoshi Mobility's fuel division.
Positive
- Fleet size more than doubles from 66 to 144 trucks
- Immediate expansion into 5 new markets
- Geographic footprint increases to 13 key markets
- Secured contract with large retailer for fleet services
Negative
- Significant capital expenditure required for truck acquisition (cost not disclosed)
News Market Reaction 1 Alert
On the day this news was published, EZFL gained 14.66%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
EzFill to Utilize New Trucks to Begin Servicing Fleet of Large Retailer and Other Customers in Texas and Arizona
MIAMI, Dec. 19, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings, Inc. (NASDAQ: EZFL), a leading mobile fueling company, is pleased to announce the execution of a term sheet with Shell Retail and Convenience Operations LLC (“Shell”), a wholly owned subsidiary of Shell Oil Products US. This agreement facilitates the acquisition of 78 trucks from Shell’s fleet and enables EzFill to immediately begin delivering fuel in the markets of Phoenix, San Antonio, Austin, Dallas, and Houston.
Under the terms of the agreement, EzFill will acquire 78 trucks.
"Today's announcement marks a transformative milestone for EzFill," said Yehuda Levy, CEO of EzFill. "More than doubling our fleet immediately enhances our operational capacity and fuel delivery capabilities, additionally EzFill will now service customers in five new markets. This agreement positions us to scale efficiently, reduce costs, and continue delivering exceptional service to our customers nationwide. We jumped at the opportunity to purchase these trucks to enable EzFill to service the fleet of a large retailer and other customers in these markets."
The addition of these trucks will increase EzFill’s fleet to 144 and expand its geographic reach in key markets including Miami, Orlando, Jacksonville, Tampa, Los Angeles, San Francisco, Detroit, Nashville, Austin, Dallas, Houston, San Antonio, and Phoenix.
This agreement follows EzFill's recent national expansion efforts, including the acquisition of Yoshi Mobility’s fuel division.
About EzFill Holdings, Inc.
EzFill is a Miami-based on-demand mobile fueling service that provides fuel delivery directly to consumers and businesses, eliminating the need for traditional gas stations. As one of the largest mobile fuel delivery platforms in the United States, EzFill focuses on convenience, safety, and efficiency for its users. Visit us at ezfl.com.
Forward-Looking Statements
This press release contains “forward-looking statements” Forward-looking statements reflect our current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating results and liquidity and capital resources outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We cannot guarantee future results, levels of activity, performance or achievements. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release except as may be required under applicable securities law.
Investor Contact
PCG Advisory
Jeff Ramson
jramson@pcgadvisory.com
FAQ
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