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2VALORISE — Capital/Financing Update 2012
Jul 27, 2012
9895_iss_2012-07-27_0c5ef3e7-eb74-4550-a018-ca85a7af5a56.pdf
Capital/Financing Update
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4Energy Invest focuses on debt restructuring and streamlines its management structure accordingly
While discussions on a strategic partnership for BioCoal are still on-going, 4Energy Invest, the renewable energy company that valorises biomass into energy, has decided to focus its management attention on running its facilities in operation in Amel and Ham, and on restructuring the existing debt facilities at the different legal entities of the group.
As a result of this decision, 4Energy Invest has further streamlined its organization. Continuous Insight2Impact BVBA, represented by Filip Lesaffer, will temporarily take up the role of Executive Chairman, mainly with a view to coordinating the negotiations with the banks and LRM, and Jean-François Meys BVBA, represented by Jean-Francois Meys, will be in charge of the daily operations of the Group's facilities in Amel and Ham.
Enerpro BVBA, represented by Yves Crits, which is no longer in charge of the daily management of the group, will continue to support the group as director and as services provider.
Gerd Smeets, the representative of KBC Private Equity NV, has resigned from the board of directors.
This press release is made available in English, Dutch and French through our corporate website www.4energyinvest.com
About 4Energy Invest
4Energy Invest is a Belgian based renewable energy company that was set up with a view to create and manage a portfolio of small to midsized locally embedded projects that valorize biomass, directly or indirectly, into energy.
4Energy Invest (through its fully owned subsidiary Renogen) has two cogeneration projects, located in Amel (Wallonia, Belgium), that are fully operational.
4Energy Invest (through its fully owned subsidiary 4HamCogen) has taken into commercial operation a 9.9 MW biomass fired cogeneration project in Ham (Flanders, Belgium).
4Energy Invest (through its fully owned subsidiary Renogen) has constructed a large scale torrefaction unit to produce BioCoal or torrefied wood pellets in Amel (Wallonia, Belgium). 4Energy Invest has temporarily operated the Bio-Coal installation at 40% of its design capacity and produced a sufficient quantity of Bio-Coal as to enable a European utility to execute a large scale co-firing test during the last quarter of 2011. 4Energy Invest identified during its operation at 40% capacity that additional investments are needed to operate the Amel installation at a higher capacity factor. 4Energy Invest concluded that it needs to enter into a strategic partnership with a third party for Bio-Coal to be able to finance and implement the additional investments that are required. Meanwhile the installation will be used to produce white wood pellets.
4Energy Invest is listed on Euronext Brussels under symbol ENIN.
For more information, please contact: Filip Lesaffer, Executive Chairman +32 496 57 90 15