Alkane Output at All-Time High
Alkane Energy has seen its output rise to record levels following its acquisition of Greenpark Energy in February of this year.
The acquisition, which cost £5.725 million, has seen Alkane become the largest coal mine methane (CMM) operator in the UK today.
In its financial results for the period ending the 31st of June 2012 released yesterday, the company said that it has significantly increased its power response capacity from 8MW last year to 31MW this year. It has also seen a 58 per cent increase in weekly output, rising from 2.4GWh to 3.8GWh at the start of September.
Revenue and profit had also increased in the first half of this year, with revenue increasing by 6 per cent to £5.3 million from £5 million and profit before tax rising by 7.5 per cent to £0.96 million from £0.89 million.
CEO of Alkane, Neil O'Brien attributed much of the company's present successes to the Greenpark acquisition and said that greater benefits were still to be seen.
"The highlight of the period was the transformational acquisition of Greenpark which provides us with a significant increase in operating capacity and in our project pipeline," he said. "We have also made good progress in the existing business with output now running at record levels and our upgraded sites well positioned for the start of the peak winter demand period. The full benefits of the Greenpark acquisition which will be seen in the second half of this year."