FORBACH, France–(BUSINESS WIRE)–Regulatory News:
La Française de l’Energie (Paris:LFDE) (Euronext: LFDE – ISIN: FR0013030152), leader in industrial ecology, has just obtained from the French State the extension of its Désirée concession on the eastern part of the mining basin of Hauts de France.
A concession area multiplied by 4
By decree dated December 24, 2020, the perimeter of the concession, owned by Gazonor, a wholly owned subsidiary of La Francaise de l’Energie, was extended over an additional area of 198.87 square kilometers to reach 266.88 kilometers square kms. The extension of the concession is granted for the duration of its validity, i.e. until 23 December 2042.
La Francaise de l’Energie therefore now holds all the exclusive rights for the development of abandoned mine methane in the Hauts de France region
Significant potential for additional gas reserves
This area contains large volumes of gas present in the former mining galleries as confirmed during the test campaigns previously carried out on this so-called Valenciennois perimeter.
LFDE will therefore focus on certifying these gas volumes with the next certification of reserves expected for the first half of 2021, while preparing the set up for future production sites to monetizer this energy in the form of gas, green electricity and heat.
This “local production for local consumption” model, already successfully established by LFDE since 2017 on several sites in France and Wallonia, is a very competitive ecological and economic solution.
Julien Moulin, Chairman of La Française de l’Energie, said: “We are delighted with the confidence the French State has placed once again in our group with the granting of the extension of the Desirée concession. The establishment of local loop for recovering and monetizing the abandoned mine methane to prevent this fatal gas going to the atmosphere is our speciality. And this efficient solution is at the heart of efforts to reduce the region’s carbon footprint. The results of the initial tests and surveys carried out since 2017 in the area awarded as part of the extension of the concession are particularly satisfactory and allow us to anticipate major developments in this part of the Hauts-de-France region “.
La Française de l’Energie continues to assert its unique positioning in the ecological transition with the launch of new green energy production sites in the former mining basins of France and Wallonia in 2021.
Next announcement:
January 26th, 2021 – First Quarter 2021 Sales
Reuters code: LFDE.PA
Bloomberg code: LFDE.FP
About La Française de l’Énergie
La Française de l’Energie is a Lorraine SME, leader in industrial ecology, specializing in producing the gas present directly in the coal and in the former coal mines of France and Belgium. Thanks to its recognised know-how in geology and engineering combined to its local positioning, La Française de l’Energie supplies gas, green electricity and heat to regional players, replacing imported energy by energy local and cleaner energy. La Française de l’Energie is on a significant growth path and aims to become a major player in the energy sector in Europe. The company is labelled as a young innovative company by Bpifrance.
More information available on www.francaisedelenergie.fr
Disclaimer
This press release contains certain forward – looking statements and estimates concerning LFDE’s financial condition, operating results, strategy, projects and future performance and the markets in which it operates. Such forward-looking statements and estimates may be identified by words such as “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “intend,” “is designed to,” “may,” “might,” “plan,” “potential,” “predict,” “objective,” “should,” or the negative of these and similar expressions. They incorporate all topics that are not historical facts. Forward looking statements, forecasts and estimates are based on management’s current assumptions and assessment of risks, uncertainties and other factors, known and unknown, which were deemed to be reasonable at the time they were made but which may turn out to be incorrect. Events and outcomes are difficult to predict and depend on factors beyond the company’s control. Consequently, the actual results, financial condition, performances and/or achievements of LFDE or of the industry may turn out to differ materially from the future results, performances or achievements expressed or implied by these statements, forecasts and estimates. Owing to these uncertainties, no representation is made as to the correctness or fairness of these forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates speak only as of the date on which they are made, and LFDE undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise, except as required by law.
