All go for Thenergo

Thenergo have announced their six month interim results, revealing a record €70m in equity raised on Alternext and ambitions to grow further.



The total for the Belgian sustainable energy company includes €5m before and €65m after listing on the equity trading market, and will allow the company to finance projects currently in the pipeline and new projects which have been identified.



The period also saw the integration of Polargen, acquired in November 2006, and the addition of 8.2MW to the gross installed capacity during the last weeks of June. Four development projects totaling 11.3MW were also added to the pipeline. Revenue rose by €4.8m on 2006 and the company recorded a profit of €607,000.



Since the first half of the year two development projects have been signed, in addition to those in the pipeline: a 3.3MW Combined Heat Power (CHP) agriwaste power facility in West Flanders, Belgium, and a biocoal plant in northern Holland.



‘In the near term Thenergo intends to focus in strategic acquisitions,’ said Kurt Alen, chief executive. ‘Mid-term, Thenergo envisages significant European consolidation opportunities in a fragmented sector. Our cash position will enable us to move rapidly on potential targets.


‘Thenergo’s business plan is on schedule and I am confident that its performance will meet expectations by year end.’