Tonix Pharmaceuticals stock halted ahead of FDA approval news
Investing.com -- NextNRG Inc. (NASDAQ:NXXT) stock rose 6.5% after the AI-driven energy company announced plans to acquire ReFuel Mobile, a profitable Canadian mobile fueling company.
The acquisition, expected to close by August 1, 2025, marks NextNRG’s entry into international markets through an established operation in Ontario, Canada. Under the non-binding letter of intent, NextNRG will acquire 100% of ReFuel’s stock, payable in cash or restricted common stock at NextNRG’s discretion.
ReFuel Mobile, founded in 2016, specializes in direct-to-vehicle and direct-to-equipment fuel delivery for commercial and industrial clients. The company ranked #36 on the Globe and Mail’s list of Canada’s fastest-growing companies with 1,166% three-year revenue growth.
"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. He added that the combination of this acquisition with organic growth gives the company confidence that "forward 12-month revenues of $100 million should be achievable."
The deal builds on NextNRG’s recent expansion across six U.S. states with its fleet of 144 active fuel delivery trucks. ReFuel’s proprietary AWS-hosted software platform will integrate with NextNRG’s existing technology infrastructure.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.