News

September 22, 2009

Alternative Energy Producer Alkane Energy Makes Good Progress In Expanding Its Power Generation Capacity Using Coal Mine Methane

Alkane Energy, the profitable alternative energy company, having re-established itself as an owner and operator of power generation plants using coal mine methane as fuel in the UK and, having sold off its interest in Pro2 the German gas handler, said at the time of its preliminary profits report for 2008 last March that it expected its underlying profitability to continue during 2009. It also said that with a strong balance sheet -- partly because of the proceeds from the German sale -- it would hope to increase capacity in 2009.

 In its recent released interim results statement, the company has reported that revenue   was up 9 per cent to £2.85 million for the six months to June 30 2009 (H1 £2.60 million) but EBITDA was up 26 per cent to £1.40 million (H1 2008: £1.10 million). There was strong operating cash flow and the receipts from the sale of Pro2 during the period under review was £5.16million with another £1.5 million or so still to come.

Output  levels  at 39.3GWh (H12008:...