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Turnover of €8.1 million in the first quarter (Q1) FY 2024; Increase in electricity volumes sold

25 October 2023

Pontpierre, France, October 25th, 2023 – FDE (Euronext: FDE – ISIN: FR0013030152), a carbon negative energy producer, reported Q1 FY 2024 sales amounting to €8.1M, up +8% compared to Q4 2023, mainly driven by a further improvement in the volumes of electricity produced, in a context of remaining favorable energy prices.

Growth in electricity production

The turnover from electricity production rose to €6.9M in Q1 FY 2024 and increased by +21% compared to Q1 FY 2023. This increase reflects a 29% increase in volumes sold, offsetting a normalization of energy prices over this quarter (average sales price of €146/MWh). To date, more than 60% of the electricity portfolio volumes have been fixed at higher levels (178 €/MWh on average for the rest of FY 2024), which will contribute positively to the continued growth of the Group’s sales in FY 2024.

Q1 FY 2024 saw gas production contributing only in September with turnover reaching €1M due to the long unavailability of the gas grid this summer. Nevertheless, the Group has taken advantage of the recent market developments to secure more than 33% of gas volumes for the rest of FY 2024 at more than €48/MWh in average.

A restart of gas injection to the grid, with new power production units being installed

FDE expects to obtain administrative authorizations in the coming weeks in order to install 4 additional cogenerations in the Hauts-de-France region, which will contribute to the Group’s 2024 organic growth, as well as to accelerate the capture and valorization of mine gas on the new identified sites.

Finally, the coming months will also see the preparation work for the development of an additional 85 MW of photovoltaic plants the Group plans to build in France and Belgium, and new Bio-LNG and Bio-CO2 production projects in Norway.

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


Press Release

Promises won't impact
climate change.
Your local resources, will.

Climate change is an undeniable reality. We can already see its serious consequences for our planet. It is now urgent to act.

At FDE, we refuse to participate in initiatives that generate pollution beyond our borders, even if they reduce the carbon footprint of our local territories. Whether it is a question of carbon footprint or pollution, there are no limits.

It is our duty to build sustainable energy solutions that move towards global carbon neutrality. Today, the most resilient and sustainable energy solution is even more self-evident: it is imperative that energy remains local, within short supply chains, as close as possible to the needs of local communities and consumers.

Considering these, at FDE, we are taking actions and offering tailor-made, local multi-energy solutions.

By making the most of local resources, our offer enables us to provide territories with energies with a triple benefit: reduced carbon footprint, economically competitive and contributing to the socio-economic development of the area. We choose abandoned sites, make the most of the potential of local suppliers and service providers, and participate in a local center of expertise that involves universities, local authorities and associations in the local energy project.

FDE lacks neither the resources nor the know-how to deploy tailor-made energy solutions for everyone and for the planet.

Our engineers embrace the energy transition with a pragmatic view.

Recovering abandoned mine gas avoids fatal gas emissions into the atmosphere, while local coal gas reduces the need to import much more carbon-intensive gases. Abundant solar energy is both local and renewable.

To support the energy transition, at FDE, we are constantly innovating, looking for new solutions for the future, such as hydrogen, a decarbonized energy, or CO2 sequestration in coal.

In addition, all energy produced by our Group is designed to be more virtuous. All these processes therefore make FDE the only French energy producer with a negative carbon footprint.


In accordance with its values and code of ethics, and with the aim of pursuing the objective of:

  • Guarantee the integrity of our assets,
  • Ensure a safe and healthy working environment for its employees and subcontractors,
  • Guarantee the health and safety of all personnel working on and off-site,
  • Limit environmental impact.


FDE wishes to promote the following HSE principles:

Identify, prevent and control impacts and risks to health, safety, security and the environment,

Develop the company's activities in a sustainable and eco-responsible manner,

Improve the working environment for its employees and subcontractors.

Consequently, FDE undertakes to:

Ensure the rigorous application of regulatory procedures in force with respect to safety, health, environment and the preservation of public security,

Impose operational management with advanced criteria for environmental protection, pollution prevention and energy optimization, as part of the ecological transition,

Systematically verify compliance with HSE principles through audits and practical exercises, with the aim of continuously improving the system and its performance,

Define indices and performance indicators for monitoring HSE activities and promote benchmarking to identify areas for improvement,

Encourage employee participation and involvement in health, safety and environmental protection processes through training and creation of tools for sharing experience and knowledge.

This culture of risk prevention and control applies to all employees, partners and suppliers. It involves setting concrete objectives and deploying action plans as part of a continuous improvement process to better anticipate tomorrow's challenges. This policy is reviewed annually, as are the associated indicators and targets.

Directeur Général,