(BFM Bourse) – Originally from Saint-Nolff in Morbihan, Charwood Energy recycles agricultural waste and sells synthetic gas from pyrogasification. The company wants to rely on the stock market to gain momentum with the objective of achieving 100 million euros in turnover in 2027.
While Fill Up Media is trying to convince investors of the merits of its operation to raise more than 13 million euros, Charwood Energy is taking advantage of the wave of IPOs to announce its project to integrate the compartment dedicated to small and medium enterprises. The Financial Markets Authority (AMF) has just registered the registration document for this company specializing in the production of renewable energy from biomass, the first step in view of an introduction on Euronext Growth Paris.
The company will have the opportunity to take a place which will soon be left vacant by Albioma. The specialist in the recovery of bagasse, the fibrous residue resulting from the crushing of sugar cane, is currently the subject of a takeover bid by the KKR fund after thirty years of presence on the stock market.
A hundred units installed
Founded in 2006, Charwood Energy offers tailor-made solutions for the production of renewable energy from different types of wood or agricultural waste. The company designs and installs local production units and markets the energy produced through a long-term energy purchase contract with an industrial company.
At the end of 2021, Charwood Energy had already carried out more than a hundred projects on behalf of clients such as Engie, Paprec and Séché Environnement. They represent a cumulative installed power of more than 54 megawatts, ie a production of 250 gigawatts/hour per year and more than 26 kilometers of heating networks. In detail, the group has installed 38 biomass boilers, 48 heating networks, 38 methanisation units and 1 pyrogasification unit.
At the same time, the group is developing its new activity as an independent energy producer using pyrogasification. This technique makes it possible to recover solid biomass by transforming it into synthesis gas or “syngas”, and to produce energy (electricity and heat or other gases such as biomethane or green hydrogen), and into “biochar”. . The latter, by sequestering in solid and stable form the carbon resulting from the recovered biomass, thus avoids its emission into the atmosphere, and largely favors the carbon balance of the pyrogasification activities. “Recoverable in agriculture to amend the soil or in By incorporating it into certain building materials, ‘biochar’ also helps generate carbon credits,” Charwood says.
A turnover of 100 million euros by 2027
Charwood Energy’s turnover reached 4.6 million euros in 2021, an income based solely on its activities on behalf of third parties and posted an Ebitda of 1 million euros, i.e. an Ebitda margin of nearly 23% of total turnover. The company claims a secure order book of 6 million euros, including 4.5 million euros billable this year. This level of order book allows Charwood Energy to approach 2022 “with confidence”, authorizing it to target a turnover of 7 million euros for the financial year. “These revenues will still come solely from its service activities on behalf of third-party customers,” the company adds.
Charwood Energy is counting on the stock market to achieve its turnover target of 100 million euros. 40% of this level of sales will come from activities on behalf of third parties and around 60% from energy sales activities for own account by pyrogasification, with a base of 50 energy production plants. The company targets a long-term normative EBITDA margin above 35%.
To achieve these 2027 objectives, Charwood Energy plans to invest an amount of around €200 million over this period, including around €60 million through dedicated vehicles held by its subsidiary W&nergy.
Sabrina Sadgui – ©2022 BFM Bourse