anaerobic digestion

Kedco plc is pleased to announce that the Government of  Latvia has offered a contract for Kedco to supply 4MW of electricity generated from biomass renewable sources through the Company’s existing grid connection.

Kedco currently has a wood processing facility in Vudlande, Latvia and it has always been the Board’s ambition to build a gasification plant on this site. The Latvian Government has agreed an initial five-year project during which the energy generated on the Vudlande site will be sold at a variable price referenced to the prevailing wholesale gas price. The Board estimates that the 4MW gasification plant could generate up to approximately €24m in revenues for the project over the initial term (based on an indicative price of €150 per MWh).

The Board is currently considering the financing and timing implications of the Latvian project and will make a further announcement in due course.

5 Letters of intent signed

Kedco is also pleased to announce that, as of 16 March 2009, it has signed a further five non-binding letters of intent (“LoI”) with prospective partners for gasification and anaerobic digestion electrical energy generating plants. The five new LoIs are from the project pipeline disclosed in the Company’s admission document. The Company now has a total of 12 LoIs agreed with potential partners.

Kedco is in various stages of contract negotiation and planning in relation to these specific opportunities. Each of the five new agreements relate to sites for anaerobic digestion or gasification projects and will involve the construction of new plants within a partnership structure in accordance with the strategy outlined at the time of the
Company’s admission to AIM.

Donal Buckley, Chief Executive of Kedco, commented:
“We are thrilled with the progress that we have made since our flotation in October 2008 and the signing of five further letters of intent is additional confirmation of the Kedco team’s hard work and dedication.  “The Latvian 4MW contract has been secured through our strong working relationship with the Government which was formed by way of our established Latvian wood-processing plant. This contract to supply electricity to the Government is testament to our team in Latvia and our cleantech energy capabilities and expertise.”

Read the Full release here

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Kedco plc (“Kedco” or the “Group”), an Irish-based energy group focusing on green energy production in the UK and Ireland, is pleased to announce that the Group’s Ordinary Shares have today been admitted to trading on the AIM market of the London Stock Exchange (“AIM”) under the trading symbol KED.

The total number of Ordinary Shares in issue following Admission is 199,446,480 which gives Kedco plc a market capitalisation of approximately €34.9 million at the Admission Price of 17.5 cents per share.

Kedco specialises in the generation of electrical power from sustainable fuel sources. The Group sources technologies (including gasification and anaerobic digestion power plants) for sale to a customer base which comprises medium sized waste operators, local municipal authorities, food companies and agricultural operators.

Read more on Kedco’s AIM Floatation

Kedco , through its relationship with Bekon Energy Technologies has proudly launched a new system of converting waste to energy called ‘Bekon Dry Fermentation Biogas Technology’. This unique proven biogas technology has been developed by Bekon in Munich. It generates energy from communal and agricultural organic waste through dry fermentation to produce biogas, a renewable resource consisting mainly of methane and carbon dioxide.

While earlier technologies mainly concentrated on wet fermentation , the Bekon process produces methane from organic matter with a high content of dry matter.

More on Anaerobic digestion

Kedco have a system of converting waste to energy, the Kedco Green Energy Harvester. Since the beginning of the 21st centurary a new market has opened up for the use of biogas technology in the production of electrical and thermal energy from organic matter. The technology of ‘dry fermentation‘ can generate enery from communal and agricultural organic matter/waste.

Up until recently, biogas technology concentrated primarily on the ‘wet fermentation’ of agricultural and communal organic waste, while the recently patented Bekon dry fermentation process can produce methane from organic matter with a high content of dry matter. This kind of energy production is environmentally sound and cost effective, while also creating and securing employment. Read the rest of this entry »