Operating in the Clean-tech green fuels sector Alkane Energy plc, the owner and operator of ‘gas-to-power’ plants, continues to grow steadily and has honed its strategic focus in recent years.
The group sources its gas from coal mine methane (CMM), which is extracted from abandoned collieries. Alkane gains onshore gas licences and exploits these gas reserves by selling directly to customers or generating electricity which it then sells via the electricity distribution network.
The company posted interim results in September, reporting a 9 per cent rise in interim revenues to £2.85m ($4.69m) for the first half. Pre-tax profits fell from £1m to £420,000, but earnings before interest tax depreciation and amortisation increased from £1.1m to £1.4m. Disposal of its German operations were expected to net around £6.6m. Projects commissioned and under construction were set to take the company to 31MW of capacity.
SADIF Analytics issued a summary due diligence report on Alkane in October 2009 which was mostly negative and called the stocks over-valued.
Investors Chronicle analysed the interim figures in September 2009 saying that the results 'were better than they looked.'
Growth Company Investor reported on Alkane in March 2009, marking it down as a recommended buy.