FDE obtains a new green bond of 20 million euros for the development of its low-carbon energy solutions in Europe
PONTPIERRE, France, October 03, 2022–(BUSINESS WIRE)–Regulatory news:
FDE (Euronext: FDE – ISIN: FR0013030152), a carbon negative energy producer, is proud to announce the issuance of a second green bond for the development of its low carbon energy portfolio in Europe. Following the success of its bond issue last year, funding has been secured with its long-term financial partner, Edmond de Rothschild Asset Management (EDRAM), one of the leading energy and infrastructure.
Substantial additional funding to support FDE’s development strategy
This green bond will finance the Group’s existing energy portfolio as well as the strong portfolio of high value-added liquefied biogas (LBG) and bio-CO2 projects currently being developed by its subsidiary Cryo Pur.
The financing amounts to €20 million and comes on top of the €40 million green bond issued in September 2021 with EDRAM’s infrastructure debt platform, BRIDGE. The financing was qualified as a “Green Bond” and the issue was assessed as complying with the Green Bond Principles of the ICMA (International Capital Market Association) via the second opinion of EthiFinance, a renowned independent expert.
The bond has an attractive indefinite term of 7 years, thanks to FDE’s track record of building and operating prime assets, with high visibility on cash generation through strong offtake contracts. This robust economic model enables the Group to secure attractive returns on the capital deployed at each production site…
FDE thus has all the financial resources necessary to accelerate its development strategy and achieve the FY 2026 objectives of more than 100 million euros in turnover, an EBITDA of more than 50 million euros and to strengthen the environmental contribution. of the Group by avoiding more than 10 million tonnes of CO2eq emissions per year.
The growth plan is well underway
While FDE is still awaiting final approval from the French State to capture Abandoned Mine Methane (AMM) on new sites in the North of France and the green light from the Ministry for Ecological Transition on FDE’s request to produce its certified reserves in Lorraine, the Group has made significant progress on other fronts.
The first 15 MW solar park in Tritteling is now ready to go into production in the coming weeks and will benefit from very attractive selling price conditions.
Following the recent acquisition of Cryo Pur, the restructuring of the company and the implementation of FDE’s operator model is progressing rapidly in order to accelerate the deployment of Cryo Pur’s advanced technologies across Europe and to strengthen the Group position on the strategic biogas and CO2 markets.
In addition, Cryo Pur obtained a new patent, bringing to 8 the number of major families of international patents held. The recent patent relates to a very promising cryogenic process that can capture the carbon contained in liquid methane, a solution that would be key to efficiently extracting the CO2 associated with large-scale LNG installations.
A long-term partnership to accelerate investments in low-carbon energy projects
“The successful placement of our second green bond demonstrates our financial strength and Edmond de Rothschild Asset Management’s confidence in the potential of Cryo Pur and FDE’s FY 2026 strategic plan announced last July. The transaction will enable the Group to finance all of its low-carbon projects in Europe, in line with our commitment to be a leading carbon-negative energy producer. We are extremely grateful to Edmond de Rothschild Asset Management for entrusting us with additional capital and for their constant support,” welcomes Julien Moulin, President of FDE.
Jean-Francis Dusch, CEO of Edmond de Rothschild UK, CIO of Benjamin de Rothschild Infrastructure Debt Generation (BRIDGE) and Global Head of Infrastructure, Real Assets & Structured Finance explains: “EDRAM is proud to extend its support to FDE, an emerging leader in low-carbon energy solutions in Europe. The long-term relationship that EDRAM has built with FDE fully illustrates our sustainable investment approach through concrete and long-term actions in favor of companies such as FDE whose activity aims to meet environmental challenges. For us, sustainability is, more than ever, a priority in the face of a rapidly changing world.“.
LPA-CGR as legal advisor. EDRAM was advised by BENTAM as legal counsel.
FDE is very confident to reach by FYE 2026, a turnover above 100 million euros with an EBITDA above 50 million euros, combined with 10 million tons of CO2eq emissions avoided per year .
October 20e2022 – 2022 annual results
Reuters Code: LFDE.PA
Bloomberg Code: LFDE.FP
About La Française de l’Energie
FDE is an energy group with a negative carbon footprint, specializing in the establishment of local 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 and cleaner energy. FDE aims to become a leading independent player in the energy sector in Europe.
More information available on www.francaisedelenergie.fr
About Edmond de Rothschild Asset Management
The Edmond de Rothschild group has been a family group since its creation, with a rich history of committed entrepreneurship. Infrastructure financing has been and continues to be an integral part of Edmond de Rothschild’s history.
More information available at www.edmond-de-rothschild.com
This press release contains certain forward-looking statements and estimates regarding the financial condition, results of operations, strategy, plans and future performance of LFDE and the markets in which it operates. These forward-looking statements and estimates can be identified by words such as “anticipate”, “believe”, “may”, “could”, “estimate”, “expect”, “intend”, “is designed for’, ‘may’, ‘could’, ‘plans’, ‘potential’, ‘predicts’, ‘goal’, ‘should’ or the negative of these and other similar expressions. They include all subjects that are not historical facts. Forward-looking statements, forecasts and estimates are based on management’s current assumptions and assessment of risks, uncertainties and other factors, known and unknown, which were believed to be reasonable at the time they were made. but which may turn out to be incorrect. Events and results are difficult to predict and depend on factors beyond the Company’s control. Consequently, the actual results, financial situation, performance and/or achievements of LFDE or the sector may prove to be materially different from the future results, performance or achievements expressed or implied by these statements, forecasts and estimates. Due to these uncertainties, no representation is made as to the accuracy or correctness of such forward-looking statements, forecasts and estimates. Furthermore, forward-looking statements, forecasts and estimates speak only as of the date on which they are made, and LFDE assumes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise, except as required by law.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20221002005109/en/
+ 33 3 87 04 34 51
+ 33 3 87 04 34 51