La Française de l’Energie: Operational and Financial Targets Achieved

  • 9-month revenue increase: €2 895K
  • Production test launch

FORBACH, France--()--Regulatory News:

In thousands of €   2016/2017   2015/2016
Revenue 1st half   1 860   0
Revenue 3rd quarter   1 035   0
Revenue 9 months   2 895   0

La Française de l’Energie (Paris:LFDE) (Euronext: LFDE - ISIN: FR0013030152), leader in clean gas thanks to its local energy production, confirms the upward trend of its Gazonor activity during the third quarter, with revenue of €1 035K, raising the Group’s 9-month revenue to €2 895K.

This first income generation from only the sale of gas trapped in the former coal mine galleries in Hauts-de-France should continue over the course of 2017. Indeed, since the 4 November 2016, La Française de l’Energie qualifies for the feed-in tariffs for green electricity, which are guaranteed for fifteen years.

The first engines allowing for the conversion of the trapped gas into green electricity will be installed by the end of the month on four sites in Hauts-de-France. The installation of these engines will ensure significant additional income for the Group starting as soon as July.

Each gas engine installed will produce as much electricity as three wind turbines. Thus, the six engines, representing a total capacity of 9 MW, should, in time, generate enough electricity to meet the needs of a city with over 40 000 residents. The rolling-out of this green-electricity activity confirms La Française de l’Energie’s innovative positioning as a producer of clean and local energy.

Production test launch at the site in Lachambre (Moselle)

As planned, at the end of April, LFDE finalized its first recovery site in Lachambre in Lorraine, where seven layers of coal were identified with an average gas content of 10 m3, which is significantly higher than predicted.

In line with its market plan, LFDE is now launching the production test. This operation, which will take over three months, should allow LFDE to begin capturing the gas from this first recovery site during the summer of 2017 and confirm the gas content observed in the samples.

The successful development of this first gas-recovery site in accordance with the best European standards demonstrates LFDE’s ability to provide energy that is cleaner, competitive and made in France.

Nothing significant has happened that could affect the Group’s financial situation, which remains solid as at 31 March 2017.

Thanks to the above achievements, La Française de l’Energie has strengthened its position as an operator of reference as a clean energy producer and confirms improvement in its operational profitability as from July 2017.

Reuters code: LFDE.PA Bloomberg code: LFDE.FP

About La Française de l’Energie

La Française de l’Energie is a SME headquartered in Lorraine, leader in industrial ecology, specialized in coal bed methane and coal mine methane recovery in the former coal mining basins of North and Eastern France. Thanks to its proven know-how in geology and engineering, La Francaise de l’Energie provides gas, green electricity and heat to regional consumers, replacing imported energy with a cleaner local alternative. La Française de l'Energie benefits from a strong growth potential and aims to become a major energy player in Europe. The company has also been awarded the innovative enterprise label by Bpifrance.

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La Française de l’Energie