EzFill Holdings, Inc. Successfully Closes Acquisition of Shell Fleet, Accelerating Nationwide Mobile Fueling Expansion
Rhea-AI Summary
EzFill Holdings (NASDAQ: EZFL) has completed the acquisition of a Shell fleet, marking a significant expansion in its mobile fueling operations. The transaction, closed on December 27, 2024, adds 73 trucks to EzFill's fleet, bringing the total to 139 vehicles.
The company has expanded into four new markets: Phoenix, San Antonio, Houston, and Austin, while strengthening its presence in Dallas. EzFill now operates in 6 states across 14 markets, including Miami, West Palm Beach, Orlando, Tampa, Jacksonville, Los Angeles, San Francisco, Nashville, and Detroit.
With this expansion, EzFill projects delivering approximately 16 million gallons with the newly acquired trucks in 2025. The company anticipates total deliveries of 26 million gallons and expects to generate over $100 million in revenues in 2025. CEO Yehuda Levy emphasized that this expansion could help achieve the scale needed for near-term profitability.
Positive
- Significant fleet expansion from 66 to 139 trucks (+73 vehicles)
- Market presence expanded to 14 markets across 6 states
- Projected revenue of over $100 million in 2025
- Expected delivery of 26 million gallons in 2025
- Path to profitability identified through economies of scale
Negative
- Currently not profitable
- Significant operational integration needed for newly acquired assets
News Market Reaction – EZFL
On the day this news was published, EZFL declined 2.62%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Following the Closing of its 2024 Transactions, EzFill is Now Operating in Miami, West Palm Beach, Orlando, Tampa, Jacksonville, Los Angeles, San Francisco, Nashville, Detroit, Dallas, Houston, Austin, San Antonio, and Phoenix
MIAMI, Jan. 07, 2025 (GLOBE NEWSWIRE) -- EzFill Holdings, Inc. (NASDAQ: EZFL), a leading mobile fueling company, today announced the completion of its purchase of a fleet of trucks from Shell Retail and Convenience Operations LLC (“Shell”), a wholly owned subsidiary of Shell Oil Products US. By integrating these trucks into its existing fleet, EzFill has significantly bolstered its operational capacity and expanded its service footprint in Texas while launching in Arizona and furthering its mission to provide efficient and reliable fueling solutions across its growing service areas.
The transaction closed on December 27, 2024. As a result, EzFill has officially commenced operations in four new markets: Phoenix, San Antonio, Houston, and Austin; and expanded operations in Dallas. EzFill has started integrating the Shell trucks into its fast-growing infrastructure.
The goals of the acquisition include:
Expanding EzFill’s Fleet: The acquisition adds 73 trucks, increasing the fleet to 139. This expansion will bolster operational capacity, allowing the Company to handle a larger volume of commercial accounts and ensure timely service delivery in new and existing markets. EzFill expects to deliver approximately 16 million gallons with these new trucks alone, in 2025.
Experiencing Market Growth and Further National Expansion: With the purchase, EzFill now has a presence in 6 states and 14 markets, including: Miami, West Palm Beach, Orlando, Tampa, Jacksonville, Los Angeles, San Francisco, Nashville, Detroit, Dallas, Houston, Austin, San Antonio, and Phoenix.
“The expansion of our fleet and the opening of new markets is a significant milestone in our journey toward achieving national operations and a strong market presence,” said EzFill CEO Yehuda Levy. “We grew this company from a small four-truck operation in Miami Beach and are now operating 139 trucks across the country. As one of the largest app-based mobile fueling companies, we hope to deliver upwards of 26 million gallons and produce over
Alongside recent strategic moves such as acquiring Yoshi Mobility’s fuel division, EzFill remains focused on driving innovation, scaling its service model, and delivering enhanced value to customers across a growing national footprint.
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. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “hopes,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed under the heading “Risk Factors” and elsewhere in the registration statement that we have filed with the U.S. Securities and Exchange Commission. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this document and other statements made from time to time by us or our representatives might not occur. Past performance is not indicative of future results. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a total risk of loss.
Investor Contact:
PCG Advisory
Jeff Ramson
jramson@pcgadvisory.com
FAQ
How many trucks did EZFL acquire from Shell in the December 2024 acquisition?
What is EZFL's projected revenue for 2025 after the Shell fleet acquisition?
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Which new markets did EZFL enter through the Shell fleet acquisition?
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