Iberis Capital has acquired a majority stake in Dourogás GNV, the natural gas mobility unit of Dourogás Group, in a deal worth over $32.5m.

The transaction includes co-investor Mello RDC and participation from the company’s leadership, who retain minority stakes.

Dourogás GNV is a leading provider of biomethane-powered solutions for heavy-duty and passenger transport in Portugal. The company has surpassed national biofuel targets, with more than half of its 2024 fuel sales coming from biomethane, well above the 13% regulatory benchmark.

The investment will accelerate the expansion of Dourogás GNV’s filling station network and increase the availability of renewable biomethane as a cleaner alternative to fossil fuels.

“This business unit offers a proven model for replacing fossil fuels in transport,” said Diogo Chalbert Santos, Partner at Iberis Capital. “We believe this investment can significantly boost the growth of clean mobility in Portugal.”

CEO Pedro Oliveira added: “We already offer the most sustainable alternative to fossil fuels in the heavy goods and passenger transport segment. Our aim is to further increase the share of biomethane and expand our filling station network.”

The transaction structure ensures management continuity while providing fresh capital to scale Dourogás GNV’s infrastructure and support Portugal’s energy transition.

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