Alkemy Capital. Regulatory News (ALK)

11 May 2005 07:00

Alkane Energy PLC11 May 2005 11 May 2005 For immediate release Alkane Energy plc ("Alkane", "the Group" or "the Company") AGM Statement Alkane Energy is a rapidly expanding international renewable energy company thatdesigns, builds, operates and services methane treatment and electricitygeneration plants. These plants greatly reduce emissions of damaging greenhousegases. At the Company's Annual General Meeting, to be held at 10.30am today atEdwinstowe House, High Street, Edwinstowe, Nottinghamshire, John Lander,Chairman of Alkane, will make the following statement: "2004 marked a significant turning point in the fortunes of the Company withturnover for the year increased by 172% and an operating profit of £199,000achieved during the second half of the year. Our German subsidiary, Pro2, enjoyed very strong trading during this period andhas commenced 2005 with a substantially increased order book. The revisedrenewable energy legislation in Germany underpins orders at Pro2 and we areexcited about the prospects of entering profitable new international markets. Tothis end, we have sold our first containerised generation systems in two newmarkets, Hungary and Russia, and we have established a new service company inthe former country. Our first German renewable energy plant, using Coal Mine Methane (CMM) as fuel,has been generating at full capacity since March. Three further CMM projectsare in the pre-development phase, one of which we hope to complete by the end ofthe year. In the UK, our CMM generation sites at Bevercotes and Markham are complete andconnection to the grid is now expected within the next two weeks. They willbring 5.4 MW of generating capacity into the portfolio in the near future. Twoother sites are under development and the containerised generation plants forthese have been ordered from Pro2 for delivery in July. Energy prices in the UKcontinue to be favourable, significantly improving the commercial viability ofour CMM business. Also in the UK, our recent acquisition, Farley Energy Engineering Limited, whichprovides equipment and services to the landfill gas and wastewater sectors, isnow fully integrated into the group as Pro2 Services Limited. In summary, 2004 was a year of transition for Alkane into a broad basedinternational renewable energy company. The Board is confident that the strongprogress made towards a profitable future will be maintained in 2005. Enquiries: Alkane Energy plc Buchanan Communications John Lander, Chairman Eric Burns, Account DirectorDr Cameron Davies, Chief ExecutiveTel: 01623 827927 Tel: 01943 883990 This information is provided by RNS The company news service from the London Stock Exchange