--Company Adds 26 New Trucks to Growing Fleet--
--Begins Service in Four New States and Five New Markets--
MIAMI, Dec. 10, 2024 (GLOBE NEWSWIRE) -- EzFill Holdings Inc. (NASDAQ: EZFL), a leading mobile fueling company, has closed on the purchase of the mobile fueling division of Yoshi, Inc., expanding EzFill's existing business into five new markets within four states.
The transaction closed on Monday, December 2, 2024, and as a result EzFill has officially commenced operations in four new States: California, Michigan, Tennessee and Texas. EzFill has started the process of integrating Yoshi's assets, operations and customers into its growing infrastructure.
The goals of the purchase include:
- Expanding EzFill's Fleet: The acquisition adds 26 trucks, increasing the fleet to 66. 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.
- Experiencing Market Growth and National Expansion: With the purchase, EzFill now has a presence in 5 states and 10 strategic locations. The new markets include Los Angeles, San Francisco, Detroit, Houston, and Nashville. This growth provides greater geographical coverage and positions the business to cater to a broader client base while diversifying market risks.
- Adding Over 50 New Commercial Fleet Accounts: The addition of over 50 new commercial fleet accounts underscores the Company's growing reputation and capacity to serve large-scale clients, which is expected to significantly increase revenue streams and demonstrate EzFill's ability to meet complex operational demands.
EzFill plans to immediately offer diesel in its new markets. With 76% of commercial vehicles using diesel according to the Engine Technology Forum, offering diesel in new markets will likely immediately increase revenue potential in those areas.
Additionally, EzFill plans to use this expansion to build on its existing relationships by servicing current national accounts in Florida and extending support to its fleet and equipment in the newly expanded markets.
"Closing this deal marks a pivotal moment in EzFill's journey toward nationwide leadership in mobile fueling,” continued Levy. "With the integration of Yoshi's exceptional team and loyal customers, we are not just expanding our footprint-we are redefining convenience and efficiency in the fueling industry. The progress we've made so far is only the beginning as we now operate in five states, ten markets, and continue to add new fleet accounts. We remain committed to delivering reliable, on-demand fueling services to customers across the country and setting new standards for innovation in this space.”
About EzFill
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.
With the number of gas stations in the U.S. continuing to decline, corporate giants such as Shell, Exxon, GM, Bridgestone, Enterprise, and Mitsubishi have recognized the increasing shift in consumer behavior and are investing in the fast growing on-demand mobile fueling industry, in companies such as Booster and Yoshi. As the only company to provide fuel delivery in three verticals - consumer, commercial, and specialty including marine and construction equipment, we believe EzFill is well positioned to capitalize on the growing demand for convenient and cost-efficient mobile fueling options.
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
