Charwood Energy announces the commissioning of a 4.7MW wood-based urban heating network for ENGIE Solutions

Charwood Energy (ISIN: FR001400AJ60, ticker: ALCWE), a French specialist in tailor-made biomass energy recovery solutions, announces the commissioning of a 4.7MW installation comprising a biomass heating system and a heating network for its client ENGIE Solutions, serving the Guillaumet development zone in Toulouse.

Within the framework of this project, ENGIE Solutions, prime contractor and operator of the future heating network, has selected Charwood Energy for its expertise in wood-based energy and its turnkey solution.

Involving two wood boilers (and two back-up gas boilers) with a total capacity of 4.7MW, a 3km heating network and 24 substations, 1,200 housing units and 23,300 square metres of commercial, office and public buildings will be served. The gas units will be commissioned in early November, while the wood units will come into service in early 2023.

For a total of more than €2 million, Charwood Energy’s solution has already led to further studies at other sites in the region and throughout France.

Nicolas Rident, Chief Operating Officer of Charwood Energy, said: "We are preparing to go live in the coming days with one of the key accomplishments of our portfolio, signed during the second half of 2020. It is a symbol of the response by utilities to the new ecological landscape and the energy transition, and was made possible thanks to the expertise of a pure player like Charwood Energy. With execution at all levels proceeding in line with our expectations, the success of this project is likely to fuel future growth in the Group's activities for third parties, both with ENGIE Solutions and other major clients.”

Contacts

About Charwood Energy

Convinced that biomass is a key response to the challenges of the energy transition, Charwood Energy designs, installs and maintains tailored solutions for the production of biomass renewable energy.

With a wealth of technical know-how and expertise in all biomass recovery technologies - heating and heating networks, methanisation and pyrogasification - Charwood Energy generated revenue of €4.6 million in 2021 from its third-party activities and EBITDA of €1 million (23% of revenue).

Positioned since 2019 in the promising area of pyrogasification technology, Charwood Energy is now also involved in the development and operation of proprietary pyrogasification units aiming to produce and sell green gas, biochar and carbon credits to industrial customers under direct purchasing contracts.

The company is listed on Euronext Growth Paris (ISIN: FR001400AJ60, ticker: ALCWE) - Eligible for PEA PME equity savings plans - Certified as an "Innovative Company" by bpifrance.

For more information, see: https://charwood.energy/investisseurs/