Biogy Solutions AS: An Ambitious Player to the Norwegian Biogas and Bio-CO2 Market

PONTPIERRE, France--(BUSINESS WIRE)--Regulatory News:

FDE (Euronext: FDE - ISIN: FR0013030152), a carbon negative energy producer, is pleased to announce that Biogy Solutions AS, its new Norwegian subsidiary, is poised to become a frontrunner in the Biogas and Bio-CO2 market across Scandinavia, as Biogy Solutions AS is committed to advanced low carbon footprint energy solutions based on a local development.

Julien Moulin, Chairman of FDE, expressed his enthusiasm about the company's prospects in Norway, stating: "Biogy Solutions AS is a newly founded Norwegian company with strong ambitions in the Norwegian market. FDE is an innovative low carbon energy producer, and our efforts in Norway, channeled through Biogy Solutions AS, is leveraging on the unique and patented technology from our subsidiary Cryo Pur SAS, focusing on Biogas upgrading, liquefaction, and integrated carbon capture and storage solutions."

Julien Moulin elaborated on the strategic goals of the company, stating: "Our primary objective is to use our expertise as a fully integrated operator in Bio-LNG and Bio-CO2 projects for industrial and mobility applications in Norway. We strongly believe in forging partnerships with experienced entrepreneurs sharing our ethical and business values and focusing on economic and environmental performance, which led to our collaboration with Jan Kåre Pedersen. With a 80% majority ownership stake held by FDE and 20% by Jan Kåre Pedersen’s holding company, we are committed to fostering rapid growth and local value creation."

Jan Kåre Pedersen, Executive Chairman of Biogy Solutions AS and founder and former CEO of Renevo AS, emphasized the company's concrete plans, stating: "We are developing six strategically located Biogas plants in Norway, targeting total energy production in the range of 500-800 GWh. Land acquisition, pre planning, and engineering are already underway, with our first project set to be announced shortly. Our headquarters are located in Stord and we are currently building a robust presence across multiple locations in Norway to support our operations".

Biogy Solutions AS has put together a strong management team, including CEO Antoine Forcinal, who also serves as the CEO of FDE. "We are actively recruiting key personnel and are excited to unveil our inaugural project in Q4 2023.", Jan Kåre Pedersen concluded.

Biogy Solutions AS is committed to make a significant impact on the Norwegian Biogas and Bio-CO2 market, contributing to the region's sustainable energy transition and reinforcing the company's commitment to carbon-negative energy solutions.

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 announcement:

FY 2023 Results - October 19^th 2023

Reuters code: FDEL.PA | Bloomberg code : FDE.FP

About La Française de l’Énergie (« FDE »)

FDE is a negative carbon footprint energy Group, specialized in the implementation via short circuits, of energy recovery and production sites, allowing the reduction of greenhouse gas emissions. FDE notably supplies regional players with gas, electricity, heat and CO2, thus replacing imported energy with local, cleaner energy. FDE has strong development potential and aims to become a leading independent player in the energy sector in Europe.by Bpifrance.

More information available on http://www.francaisedelenergie.fr

Disclaimer

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