La Française de l'Énergie New Concession in Wallonia Following the Purchase of Greenhill SA

Nachrichtenquelle: Business Wire (engl.)
23.02.2021, 21:54  |  77   |   |   

Regulatory News:

La Française de l'Énergie (Euronext: LFDE - ISIN: FR0013030152), producer of energy with a negative carbon footprint, announces the acquisition of Greenhill SA, a subsidiary of the Brederode SA, holder of the Monceau-Fontaine, Marcinelle and North Charleroi Concession (No. 038), for a gross acquisition price of € 203,000 and a net consideration of € 95,000 taking into account the cash available at Greenhill SA.

A concession with high potential

The Concession of Monceau-Fontaine, Marcinelle and North of Charleroi covers 74 km². This concession contains large volumes of gas present in the former mining galleries, which were the subject of several positive production tests in 2018.

Pressures of more than 2 bars as well as CH4 contents greater than 90% were measured during these tests on two sites.

6 mine shafts more than 1000 meters deep, connected to the old mining works, are already in place and will be quickly tested over a longer period to validate the development plan to recover the fatal gas from these wells.

LFDE will capture this gas and avoid the release of a large volume of methane into the atmosphere and use this energy locally in the form of gas, electricity and heat.

This development model, already successfully established in Anderlues and the Hauts-de-France, is a competitive ecologically and economically solution.

Julien Moulin, President of La Française de l'Energie, said: “The acquisition of Greenhill is a strategic step for our group to be a key player in the ecological transition of the Walloon mining basin. This transaction strengthens our positioning in Belgium, in particular near Charleroi, and should enable us to deploy new cogeneration units on this concession over the next 18 months and contribute to the efforts to reduce the carbon footprint that the Walloon Government is promoting”.

La Française de l'Energie continues to progress its growth plan with the objective to achieve an annualized turnover target of € 35 million for an EBITDA margin of over 45% by the end of 2022.

Next announcement:
March 23, 2021 – Half-year results 2020/2021

Reuters code: LFDE.PA

 

Bloomberg code: LFDE.FP

About La Française de l’Énergie

La Française de l'Energie is an SME with a negative carbon footprint, specializing setting up decentralized energy production sites. La Française de l'Energie supplies gas, green electricity and heat to regional players, thus replacing imported energy with local, cleaner energy. La Française de l'Énergie has strong development potential and aims to become a benchmark independent player in the energy sector in Europe. The company benefits from the innovative company label awarded by Bpifrance.

More information available on www.francaisedelenergie.fr

Disclaimer

This press release contains certain forward - looking statements and estimates concerning LFDE’s financial condition, operating results, strategy, projects and future performance and the markets in which it operates. Such forward-looking statements and estimates may be identified by words such as “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “intend,” “is designed to,” “may,” “might,” “plan,” “potential,” “predict,” “objective,” “should,” or the negative of these and similar expressions. They incorporate all topics that are not historical facts. Forward looking statements, forecasts and estimates are based on management’s current assumptions and assessment of risks, uncertainties and other factors, known and unknown, which were deemed to be reasonable at the time they were made but which may turn out to be incorrect. Events and outcomes are difficult to predict and depend on factors beyond the company’s control. Consequently, the actual results, financial condition, performances and/or achievements of LFDE or of the industry may turn out to differ materially from the future results, performances or achievements expressed or implied by these statements, forecasts and estimates. Owing to these uncertainties, no representation is made as to the correctness or fairness of these forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates speak only as of the date on which they are made, and LFDE undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise, except as required by law.



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La Française de l'Énergie New Concession in Wallonia Following the Purchase of Greenhill SA Regulatory News: La Française de l'Énergie (Euronext: LFDE - ISIN: FR0013030152), producer of energy with a negative carbon footprint, announces the acquisition of Greenhill SA, a subsidiary of the Brederode SA, holder of the Monceau-Fontaine, …

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