Plans to start operations in four new states, expanding its reach across the United States

Miami, FL, November 4, 2024 (GLOBE NEWSWIRE) — EzFill Holdings Inc. (NASDAQ: EZFL), a leading mobile fueling company, is proud to announce the signing of a non-binding letter of intent (“LOI”) to acquire the fueling division of Yoshi, Inc.. We believe this acquisition will mark an important step in EzFill’s strategy to expand its operations and presence in the United States.

Under the terms of the letter of intent, EzFill plans to acquire Yoshi Mobility’s existing mobile fuel services operations in four key states, including California, Tennessee, Texas and Michigan, and integrate the assets and Yoshi’s customers in its growing infrastructure. With this acquisition, EzFill is expected to not only strengthen its presence in existing markets but also launch an aggressive national expansion plan, positioning itself as a leading player in the on-demand fueling sector. Terms of the transaction were not disclosed.

Headquartered in Nashville, Tennessee, Yoshi Mobility is a leading mobility service provider backed by General Motors Ventures, ExxonMobil and Bridgestone Americas. These strategic investors have played an integral role in establishing Yoshi Mobility as a pioneer and leader in the mobile fueling industry.

CEO of EzFill, Yehuda Levy said, “This acquisition is a strategic step for EzFill as we continue to lead the way in revolutionizing mobile fueling services across the United States. With Yoshi, we have access to new markets, fantastic field technicians and a loyal customer base, allowing us to expand our operations and provide exceptional fueling services nationwide.

Avi Vaknin, CTO of EzFill, added, “Through our technology platform, we hope to be able to seamlessly expand into other states using Yoshi’s existing truck fleet. We believe this integration will allow us to quickly expand our operations while maintaining the high level of service and efficiency that EzFill provides. We are excited about the potential to grow and provide more fuel solutions to consumers across the country.

This acquisition reflects EzFill’s continued commitment to providing convenient, cost-effective and environmentally friendly mobile fueling solutions for consumers and businesses.

CEO and co-founder of Yoshi Mobility, Bryan Frist said: “Having built our fueling division from the ground up over the past several years, we are excited to build this company into a formidable partner and industry leader. This step will allow our Yoshi Mobility team to redirect our energy toward developing cutting-edge mobility solutions that meet the current and future needs of our fleet customers, including electric vehicle charging and virtual inspection vehicles. This is a true win-win situation for both companies and, more importantly, for our customers.

The potential transaction is subject to the entering into of definitive agreements which will contain customary closing conditions and is expected to be completed before the end of the year.

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, security, and efficiency for its users.

About Yoshi Mobility

Yoshi Mobility is a technology-enabled mobility service provider. The company has performed millions of vehicle services through its network of certified mobile technicians who provide on-site and virtual services, including electric vehicle charging, virtual inspections and preventive maintenance. To date, Yoshi Mobility has raised more than $60 million with investments from General Motors Ventures, Bridgestone and ExxonMobil. Other investors include NBA All-Star Kevin Durant, NFL legend Joe Montana and Silicon Valley’s Y-Combinator.

Forward-looking statements

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Investor contact

TraDigital IR

John McNamara

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