Granting of the Bleue Lorraine production lease  

Pontpierre, France, November 23^rd, 2023 – FDE (Euronext: FDE – ISIN: FR0013030152), a carbon negative energy producer, has obtained by decree dated November 20^th, 2023, the “Bleue Lorraine” production lease with a total surface of 191 km², valid until January 1^st 2040, paving the way for the development of FDE’s certified gas resources in Lorraine.

Go ahead for the development of low carbon energy in Lorraine

This grant marks a key step toward monetizing the reserves and resources certified by the Group on this strategic asset located at the heart of Europe.

These energy resources will be developed in a decentralized manner, as close as possible to the end consumer. Given the proximity of consumers and future hydrogen infrastructure, the significant work undertaken over the years by FDE on the CO₂ capture via its subsidiary Cryo Pur, and the use of  gas resources to produce carbon-free hydrogen, notably as part of the Walloon Recovery Plan with the HECO2 project for the production of hydrogen by plasmalysis, will allow an even more relevant monetisation of these gas reserves and resources attached to the production lease. The net asset value of this asset is currently estimated at € 318 M, based on reserves certified in 2018 by MHA (Sproule Group) and adjusted energy prices.

Julien Moulin, president of FDE, declares: “For more than a decade, FDE has been supporting the project promoting local gas, as an ecologically and economically competitive resource. I am looking forward to contributing further to our positive impact on the carbon footprint of the region, by reducing imported energy, contributing to energy security and decarbonizing the industry while stimulating a faster development of hydrogen ecosystems in the Greater Region going from Wallonia to Saarland via Luxembourg and the Grand-Est Region. The updated development plan will therefore be presented at the beginning of 2024 in order to integrate all stakeholders in this development. »

Continuing work related to the discovery of natural hydrogen

In parallel, the Group is pursuing its work while awaiting the granting of the “Des Trois Evêchés” permit, which application was made in March 2023, in order to validate and accelerate the development of the native hydrogen potential, a very ecologically and economically competitive resource, particularly compared to other forms of carbon-free hydrogen

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 announcements:

General Assembly Meeting FY2023: November 30^th, 2023