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FDE announces the acquisition of Cryopur, the leading player in the production of Liquefied Biogas (LBG) and Bio-CO2

19 April 2022

Pontpierre, France, April 19th, 2022 – FDE (Euronext : FDE – ISIN : FR0013030152), a carbon negative energy producer, is proud to announce the acquisition of 94% of the capital of Cryopur, a unique French company specializing in the treatment of biogas and its liquefaction into LBG and Bio-CO2, thus strengthening the group’s position in energy production solutions that reduce greenhouse gas emissions.

Cryopur, fruit of the recognized expertise of a Nobel Prize winner

Cryopur was created in 2015 by Denis Clodic, former director of the Center for Energy and Processes at Mines ParisTech and co-winner of the Nobel Peace Prize in 2007 for his contributions to the IPCC (Intergovernmental Group of Experts on climate change).

Capitalizing on 35 years of Research & Development, and French Tech Ambassador at the COP21, Cryopur has developed a breakthrough patented technology that purifies biogas into Bio-CO2 and Biomethane before liquefying it into LBG. The Bio-CO2 produced through the Cryopur process can be recovered in short circuits throughout the entire value chain, including by food industry players; LBG is sold to consumers as a substitute for fossil fuels.

A patented technology unique in the world, applicable to all types of gas

Cryopur’s technology is based on a cryogenic system that combines a system of integrated refrigeration cascades to separate the different gas components and liquefy them.

Thanks to these processes based on 7 major families of international patents, the LBG and Bio-CO2 obtained thus meet the needs of all types of application.

In addition, the processes invented by Cryopur combining purification and liquefaction have a decisive competitive advantage, particularly in terms of energy costs and gives Cryopur a unique positioning compared to biogas purification techniques without liquefaction such as membrane processes.

Indeed, this technology allows farmers, cooperatives, industrialists, and energy companies to efficiently recover the full energy potential of their products and waste while reducing methane and CO2 emissions.

Nearly €30 million have thus been invested in the development of the Cryopur process and its implementation. The technology is now in operation, particularly in the United Kingdom and Norway at 2 biogas production sites operated by leading industrial and agricultural players (Greenville and Renevo), with a total production capacity to date of 5,000 tons of LBG and 5,000 tons of Bio-CO2 per year.

A new European leader in green gas and Bio-CO2 is born

In addition to the existing activities of FDE, focused mainly on the reduction of CO2eq emissions through the capture and recovery of mine gas, the group now includes the upgrading and liquefaction of all types of gas (biogas, landfill gas, flare, rare gas, etc.). The integration of Cryopur will therefore allow to maximize the value of FDE’s large gas reserves but also to strengthen its position on the strategic green gas and CO2 markets.

FDE’s industrial optimization and project management know-how will also make it possible to develop the patented technologies developed by Cryopur even more efficiently by applying the operator model successfully developed by FDE on mine gas activities and solar in France and Belgium to the LBG and Bio-CO2 markets.

These various synergies will thus create a leading European player in the production of energy from recovered or renewable gas.

FDE estimates there are several tens of thousands of sites worldwide where the production of LBG and/or Bio-CO2 from recovered or renewable gas can be implemented. Cryopur’s technology thus has very significant potential since less than 0.1% of the sites surveyed use these resources in the form of LBG and/or Bio-CO2.

The portfolio of projects being finalized is already very solid with 7 new European projects currently under discussion for an anticipated amount of over €35 million, enabling FDE to become one of the European leaders in the production of LBG and of Bio-CO2.

In 2021, Cryopur achieved revenues of €4.9M. The acquisition consideration amounts to €2.5M with a possible additional remuneration of €3M under certain conditions. The acquisition is financed by the group’s available cash and FDE keeps its strong financing capacity in order to pursue its development projects, including those of its new subsidiary, Cryopur.

Denis Clodic, founder and technical director of Cryopur, declares: “The development of an innovative industrial company for the production of renewable fuel and the decarbonization of biogas, but also of flare gas and industrial fumes, requires solid expertise and an agile approach. The FDE and Cryopur teams have this know-how and this common ambition to take a leading position in the new LBG and fuel decarbonation markets. »

Julien Moulin, President of FDE explains: “The acquisition of Cryopur is a fundamental and structuring step in the continuous development of FDE in the green gas and CO2 sectors. I am delighted to welcome Denis Clodic, a world reference for his work within the framework of the IPCC, and his entire team within the FDE group. I would also like to thank Geoffroy Mattlinger, who, as Chairman of Cryopur, enabled the company’s international development and its merger with FDE in order to create a European leader in renewable energies.”.

Following this acquisition, FDE will communicate its new growth prospects for 2026 during the publication of the FY 2022 annual sales, on July 21st, 2022.

 

Next announcements:

Q3 2022 sales – April 26th 2022

Investors Day – April 27th 2022 (details to follow)

 

Reuters code: FDEL.PA Bloomberg code : FDE.FP
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About La Française de l’Énergie (« FDE »)

FDE is a negative carbon footprint energy Group, specialized in the implementation via short circuits, of energy recovery and production sites, allowing the reduction of greenhouse gas emissions. FDE notably supplies regional players with gas, electricity, heat and CO2, thus replacing imported energy with local, cleaner energy. FDE has strong development potential and aims to become a leading independent player in the energy sector in Europe.by Bpifrance. More information available on www.francaisedelenergie.fr

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