GLOBAL ECOPOWER (EPA:ALGEP) GLOBAL ECO POWER : COVID-19 UPDATE

Transparency directive : regulatory news

20/03/2020 18:05

PRESS RELEASE

                      Meyreuil (France), 20 March 2020

                              COVID-19 UPDATE

Global EcoPower (FR0011289198 - ALGEP) is providing its shareholders and
clients with information on the measures taken to protect its employees and the
impacts of the health crisis.

The current health crisis is an exceptional situation and our priority is the
health and safety of our teams and partners, while continuing to run our
business without disruption, operate our work sites and provide the best
possible quality of service. Therefore, all GEP Group employees remain
operational and are working remotely.

At the Algo-Solar Complex in Payra-sur-L'Hers:

- All orders were placed before the health crisis. As a result, all essential
  equipment for the site has been secured.

- The site was shut down on 17 March, the day after President Macron's speech,
  in order to comply with the recommended isolation rules. We will resume work
  as soon as we are authorised to do so by the government, and we can ensure
  that all French and international parties can work at the site safely.

For now, the timing for the completion of future projects is not impacted by
the current health situation.

In the longer term, the impact will depend largely on how long measures to
combat the pandemic remain in place.

The company currently has more than EUR7m in available cash that will enable it
to weather the crisis without any difficulty.

About Global EcoPower:

GEP is a key player in the green industry, with two business lines:
* Its historical business is the construction of renewable power plants using
wind, photovoltaics and biomass as energy sources. GEP has a presence across
the value chain, from construction to power plant operations. So far, it has
built and commissioned more than 10 power plants, representing over 150MW in
installed power capacity;

* A new higher value-added activity building and developing Green Energy
Business complexes, including an eco-business consuming high amounts of
energy.

GEP is currently in the process of building France's first "algo-solar" complex
in Payra-sur- L'Hers (southern France), combining green energy and spirulina
production. This complex not only enables the production site to be fully
self-sufficient in terms of its energy needs, but it can also produce a surplus
of power, which will have a significant positive impact on operating
profitability.

In 2018, GEP generated EUR24.6m in revenue, operating income of EUR4.8m and a
net profit of EUR2.7m. GEP is listed on the Euronext growth stock exchange in
Paris (ISIN code: FR0011289198 - Ticker: ALGEP). The company is eligible for
the SME personal equity plan (PEA-PME).

The Green Energy Business in a few words...

As part of the ecological transition process, the Green Energy Business refers
to the combination of green energy production with environmentally-friendly
industrial activity, so as to minimise environmental impact. The Green Energy
Business involves the construction of positive green energy complexes which
ensure a sustainable cost price of green products by consuming the energy they
produce.

GLOBAL ECOPOWER                      ACTIFIN
Philippe Perret                      Christophe de Lylle
Deputy Chief Executive Officer       Financial Communication
contact@global-ecopower.com          cdelylle@actifin.fr
+ 33 4 42 24 50 16                   + 33 1 56 88 11 11

ACTIFIN
Aminata Doucouré
Press Relations
adoucoure@actifin.fr
+ 33 1 56 88 11 23

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07/07/2020 19:17

GLOBAL ECOPOWER (EPA:ALGEP) GLOBAL ECO POWER : COVID-19 UPDATE

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