23 November 2023 - Granting of the Bleue Lorraine production lease   25 October 2023 - Turnover of €8.1 million in the first quarter (Q1) FY 2024; Increase in electricity volumes sold 19 October 2023 - FY2023 annual results 27 September 2023 - Biogy Solutions AS: an ambitious player to the Norwegian Biogas and Bio-CO2 Market 20 July 2023 - Record FY 2023 revenues reaching €39.2 million (+50% yoy), FY 2026 objectives confirmed, Progress on additional growth opportunities 11 July 2023 - Half-year statement of the liquidity contract 5 July 2023 - FDE and the HECO2 consortium dedicated to clean hydrogen production by Plasmalyse technology, selected by the government of Wallonia 15 May 2023 - FDE announces the discovery of natural hydrogen in the Lorraine mining basin
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Another Quarter of revenues acceleration in Q3 2023 (+88%), Group revenues growth confirmed for FY 2023

25 April 2023

Pontpierre, France, April 25th, 2023 – FDE (Euronext: FDE – ISIN: FR0013030152), a carbon negative energy producer, reported sales for the first nine months of FY 2023 of €31.7 million, up sharply by +88% compared to the same period in 2022, thus already exceeding the FY 2022 turnover, driven once again by the development of its activities and the optimization of energy sale prices.


In Euro millions 2023* 2022 % change
H1 Sales (Jul-Dec) 21,3 9,1 + 134 %
Q3 Sales (Jan-March) 10,4 7,8 + 33 %
Year to date Sales (9 months) 31,7 16,9 + 88 %

* Unaudited numbers


Solid recurring revenues derived from the Group’s low-carbon energy solutions

For the first nine months of 2023, the gas production activity posted revenues of €11 million, up by +29% compared to last year, in a favorable gas price environment.

Revenues from electricity generation amounted to €19.6 million at the end of March 2022 (+145%). This increase reflects the latest negotiated contracts prices on the overall cogeneration portfolio (>185€/MWH average selling price) and the contribution from January of FDE’s first solar project in the Grand-Est, adding 15 MW to the Group’s existing 22.5 MW power portfolio.

The Group still benefits from a guaranteed feed in tariff in France for 40% of its installed capacity. FDE also continues to optimize the valorization of its revenues and recently fixed the pricing of 65% of its merchant electricity volumes from cogeneration for the rest of 2023.

Revenue generated from the heat sales, related to the Béthune project and the thermal solar power plant in Creutzwald, amounted to €355,000 over the period. The contribution of Cryo Pur, associated with the new operating and maintenance contracts for LBG and Bio-CO2 production installations in Ireland and Norway is €646,000.


FDE revenues growth confirmed for FY 2023

This excellent combination of strong revenues and cash flows generation from FDE’s portfolio will continue in Q4 2023.

FDE is also implementing its organic growth strategy focused on developing new low-carbon solutions including addition cogenerations; indeed the Group has already launched the assembly of 4 additional cogeneration units to be installed towards the end of calendar year 2023.

Furthermore, in addition to the already-secured 84 hectares dedicated to future solar production, the extension of the Tritteling-Redlach project has been approved by local authorities, the land secured and the engineering and environmental studies initiated with the objective to double the current installed capacity (+15MW) by early 2025.

With regards to new projects associated with Cryo Pur technologies, FDE is currently completing its optimization and industrialization program for its Liquified Biogas (LBG) and Bio-CO2 technologies and equipements. The Group expects that revenues linked to these new projects will significantly contribute to FDE’s growth from 2024 onwards.

Meanwhile, the Group continues to strengthen its position on other low-carbon energy solutions: a proven and competitive economic and ecological model.


FDE confirms its FY 2026 objectives of annual revenues of more than €100 million, and an EBITDA above €50 million, combined with over 10 million tons of CO2eq emissions avoided per annum


 Next announcement:

FY 2023 annual sales – July 20th 2023


Press Release