E-Energymarket

4Energy Invest must reschedule the debts or start looking for fresh equity.

Editorial news of E-Energy Market by: Energeia

The Belgian biomass company 4EnergyInvest has financial problems. By postponing the operation of the biocoal plant Amel III, 4Energy Invest must reschedule the debts or start looking for fresh equity. Otherwise the company cannot meet its financial obligations for 2011, admits 4EnergyInvest.

The Belgian biomass company 4EnergyInvest has financial problems. By postponing the operation of the biocoal plant Amel III, 4Energy Invest must reschedule the debts or start looking for fresh equity. Otherwise the company cannot meet its financial obligations for 2011, admits 4EnergyInvest. The Company believes that the cash flow of the Amel cogeneration plants I and II can convince the banks of a restructuring of its debts. Despite this self-confidence the publicly traded company already started looking for new investors.
Amel III is a plant for the production of torrefied wood pellets, but the project was delayed by a conflict with Stramproy. The two were eventually split up and 4EnergyInvest now manages and owns the project completely.

The annual report of 4EnergyInvest already indicated that the funds for Amel III have now been exhausted and that the work will be funded by operational income from Amel I and II and a residual credit for the project Renogen that includes Amel I and II. 4EnergyInvest also can´t commit to a definitive timing when Amel III will be fully operational.  

In fiscal 2010 4EnergyInvest recorded revenues of just under € 11 mln. with a net loss of € 875,000 while € 436,000 in 2009 profitable. Causes of this drop in earnings are the high prices for biomass, a settlement of € 300,000 with Stramproy. Also on the British Pontrilas project it had a drop of value because the Pontrilas Group withdrew in 2009 from the cogeneration project.

Looking ahead to 2011 4EnergyInvest expects to bring the Amel III project under control. Further it investigates a CHP plant in Ham (9.5 MW) and other CHP and torrefaction projects in Britain. And it invest in manufacturing capacity of biocoal in Ham and Reisbach (Germany).

More information about torrefaction technologies.   torrefaction technologie.

Translated from © Energeia - Benelux in Brief – for more information see www.energeia.nl/beneluxinbrief

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Categories : Torrefication - biomass upgrading, Pellets (biomass upgrading), Residues and waste, Cellulosic biomass from forests (wood chips, sawdust, tree tops), Co-firing, Power (electricity) generation, Europe, Financial results of individual companies, Individual companies