News

New concession in Wallonia following the purchase of Greenhill SA

23 February 2021

Pontpierre, France, February 17, 2021La 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

Documents

Press release