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Significant value increase for the Abandoned Mine Methane (AMM) gas reserves certified in Hauts-de-France

13 January 2022

Pontpierre, France, January 13th, 2022 – La Française de l’Énergie (Euronext: LFDE – ISIN: FR0013030152), a carbon negative energy producer, announces a new certification of its 2P abandoned mine gas (AMM) reserves on the two concessions held in the Hauts-de-France’s region.

While 360 ??million m3 have already been captured and monetize through the production of gas and green electricity over the last 4 years, this new certification carried out by DMT (Tüv Nord group) now shows AMM reserves of 3.6 billion m3 (21.6 TWh), thus confirming the significant potential for the capture and recovery of mine gas, well above the current objective set at 49.5 MW of installed capacity in the Franco-Belgian basin by the end of 2022.

La Francaise de l’Energie anticipates that more than 3 million tonnes of CO2eq emissions will be avoided annually through the capture of AMM and the installation of new cogeneration units in Hauts-de-France and Belgium. This development will reinforce the company’s positioning as the leading contributor to the region’s fight against Greenhouse Gas (GHG) emissions. This exceptional positive impact on the Hauts-de-France region makes LFDE one of the main players in the territory’s ecological transition.

 The rise in energy prices significantly increases the value of the Lorraine gas

 Moreover, in the context of structural increases in energy prices, the net asset value (NAV) of the Lorraine gas is now estimated at € 318 million[1], a sharp increase compared to the 2018 certification carried out by MHA (Sproule). The certified reserves which amount to 6.7 billion m3 of gas (1P, 2P, 3P) and its recovery in short circuits aim to replace the imported energy with local low-carbon energy in the Grand Est region.

 La Française de l’Energie confirms its objective of achieving annualized revenue of € 35 million and an EBITDA margin of over 45% by the end of 2022.

Next announcement :
S1 2021-2022 Sales – January 25th 2022

[1] The net present value (NPV) corresponds to cash flows discounted at 10% over the duration of the future concession. It includes revenues with an average gas sale price of € 28.08/MWh (source EEX – PEG Nord France 2030 – as of 12/01/22), investments, operating costs and annual fixed and variable expenses.

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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.

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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.

Antoine FORCINAL
Directeur Général,