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Granting of the Bleue Lorraine production lease  

23 November 2023

Pontpierre, France, November 23rd, 2023 – FDE (Euronext: FDE – ISIN: FR0013030152), a carbon negative energy producer, has obtained by decree dated November 20th, 2023, the “Bleue Lorraine” production lease with a total surface of 191 km2, valid until January 1st 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 30th, 2023

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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.

HSE POLICY

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,