PRESS RELEASE 2016-02-08

Scandinavian Biogas invests in a new large scale Liquid Biogas Plant

Scandinavian Biogas has signed a contract with Biokraft AS and TrønderEnergi to build a new production plant for Liquid Biogas. The investment amounts to 370 million NOK and initially 125 GWh Liquid Biogas (LBG) will be produced, increasing to 250 GWh when the plant is fully completed.

Scandinavian Biogas Fuels International (publ) has acquired >50% of the Biokraft AS shares, together with TronderEnergi AS they now own 93% of the company. This new investment will provide growth, cash flow streams as well as broadening the Group’s geographic operative area.

– The acquisition of shares in Biokraft AS and the building of a new plant for LBG stands well in line with our long term strategy. During 2016 Scandinavian Biogas will be able to deliver 300 GWh of Biogas to the Nordic Market. Together with the plant in Trondheim we will increase our production volume to 500 GWh by 2017, which is a big step toward our group goal of an annual production of one TWh of Biogas by 2020, says Matti Vikkula, CEO of Scandinavian Biogas.

The new plant will be built adjacent to Norske Skog AS Paper Mill in Skogn, on the outskirts of Trondheim. Construction began in the summer of 2015 and gas production should start by mid 2017. The Biogas production will mainly be based on organic rest products from the fishing industry and waste water from the paper mill.

– TrønderEnergi are very pleased to be investing together with a leading industrial partner such as Scandinavian Biogas, for the biogas plant at Skogn. Through this industrial partnership we will be able to take a leading role within biogas production in Norway, and thereby contribute to bringing Norway closer to becoming a sustainable society. This first plant will contribute with a CO2 reduction equivalent to 25 000 cars, which says something in itself on the benefits to society that we are now establishing, says Ståle Gjersvold, CEO of TrønderEnergi.

Increasing the production with Liquid Biogas will secure the supply for heavy transports and will also improve the conditions for those who wish to use fossil free fuel. In the long run industry and shipping will also be able to use biogas to a larger extent.

The plant will be delivered by Purac AB and will become the largest Nordic production plant for LBG. In the initial phase the plant will produce 125 GWh, when completed it should produce 250 GWh.

– We are proud to be part of an important contribution in the Nordic countries work towards achieving the goals set in Paris, to reduce emissions harmful to our global climate, says Jonas Fack, CEO of Purac AB.

Scandinavian biogas has financed this investment in Trondheim partially through new Corporate Bonds in the Nordic Market. Bank financing is provided from Sparebank 1 SMN and Innovatjon Norge, where EKN has provided an insurance for payment risks.

For further information please contact:
Matti Vikkula, CEO Scandinavian Biogas, +46 70 597 99 38, matti.vikkula@scandinavianbiogas.com
Håkon Welde, Head of asset management TrønderEnergi, +47 73 54 16 56, hwe@tronderenergi.no
Håvard Wollan, CEO Biokraft AS, +47 92 88 33 83, hw@biokraft.no
www.scandinavianbiogas.com                        www.tronderenergi.no              www.biokraft.no

2019-08-15 14:00

Scandinavian Biogas Interim Report for the period 1 January – 30 June 2019

Long-term liquid biogas (LBG) supply contract signed between Norwegian subsidiary Biokraft and Hurtigruten.

Second quarter in brief

  • A 7.5-year LBG supply contract signed between Norwegian subsidiary Biokraft and Hurtigruten.
  • The LBG plant at Skogn, Norway, delivered 2.4 million Nm3of LBG during the second quarter.
  • Net sales totalled SEK 89.6 million (65.9), a year-on-increase increase of 36.0%.
  • EBITDA was SEK 17.7 million (-2.0), a year-on-year improvement attributable primarily to the plant at Skogn. The plant was in operation during the January–June 2019 period, but not during the comparative period.      
  • The Group posted an operating loss of SEK -4.4 million (-15.6).
  • The Group posted a loss after tax of SEK -23.3 million (-21.3).
  • The directed share issue yielded SEK 39.6 million before transaction costs.
  • Subordinated shareholder loans totalling SEK 34 million along with interest of SEK 2.5 million were converted to shares in a set-off issue.

First half-year in brief

  • A 7.5-year LBG supply contract signed between Norwegian subsidiary Biokraft and Hurtigruten.
  • Net sales totalled SEK 176.5 million (129.5), an increase of 36.3% attributable primarily to the plant at Skogn, which was in operation during the January–June 2019 period. The plant was not in operation during the corresponding period in 2018.
  • EBITDA was SEK 36.3 million (-0.6), with the year-on-year improvement due mainly to commissioning of the plant at Skogn, Norway.
  • The Group posted an operating loss of SEK -7.6 million (-28.1).
  • The Group posted a loss after tax of SEK -35.6 million (-43.8).
  • The directed share issue yielded SEK 39.6 million before transaction costs.
  • Subordinated shareholder loans totalling SEK 34 million along with interest of SEK 2.5 million were converted to shares in a set-off issue.


Significant events after the end of the period

  • It was reported in July that the rights issue was oversubscribed by 184% and yielded a total of SEK 10.2 million before issue expenses. The directed share issue was decided and amounts to SEK 60.4 million before issue expenses, and pertains entirely to Apriori AB.
  • No other significant events occurred after the end of the interim period.

The interim report for the second quarter 2019 for Scandinavian Biogas Fuels International AB (publ) is now available on www.scandinavianbiogas.com

For further information, contact Matti Vikkula, CEO and president,
+46 70 597 99 38,
matti.vikkula@scandinavianbiogas.com 

The information in this press release is such that Scandinavian Biogas Fuels International AB (publ) must disclose in accordance with the EU Market Abuse Regulation (EU MAR) No. 596/2014. The information was submitted for publication on August 15, 2019, at 15:00 CET.

2019-08-15

Scandinavian Biogas Interim Report for the period 1 January – 30 June 2019

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2019-08-09

Interim report will be published on August 15, 2019

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2019-07-19

Scandinavian Biogas publishes outcome of oversubscribed rights issue and carries out a secured directed share issue of SEK 60 million

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2019-06-27

Report from the Annual General Meeting of Scandinavian Biogas Fuels International AB (publ)

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2019-06-14

Subscription period for rights issue of 10 MSEK is 17th of June to 5th of July

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2019-06-05

Scandinavian Biogas carries out directed issue and rights issue in a total of SEK 86 million and intends to carry out a secured directed issue of SEK 60 million. Total issue volume SEK 146 million

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2019-06-05

Scandinavian Biogas announces fully secured share issues with a value of 136 MSEK; intends to carry out a rights issue of 10 MSEK

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2019-05-28

SUMMONS TO THE ANNUAL GENERAL MEETING OF SHAREHOLDERS IN SCANDINAVIAN BIOGAS FUELS INTERNATIONAL AB (PUBL)

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2019-05-23

Scandinavian Biogas subsidiary to deliver liquid biogas to Hurtigruten

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2019-04-26

Scandinavian Biogas Interim Report for the period 1 January – 31 March 2019

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2019-04-25

Scandinavian Biogas Annual Group Report 2018

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2019-04-18

Results from Scandinavian Biogas written procedure

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2019-03-28

Scandinavian Biogas initiates a written procedure

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2019-02-28

Scandinavian Biogas Interim report for the period 1 January – 31 December 2018

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2019-01-25

Scandinavian Biogas Intends to Conduct a Directed Share Issue

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2018-11-28

Result from Scandinavian Biogas Fuels International AB (publ)s written procedure

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2018-11-09

Scandinavian Biogas Interim Report for the period 1 July – 30 September 2018

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2018-11-09

Scandinavian Biogas initiates a written procedure

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2018-11-08

Scandinavian Biogas to launch written procedure following constructive discussion with certain bondholders

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2018-10-23

Release of Q3 2018 interim report postponed as court ruling for dispute related to Södertörn facility received

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2018-09-03

Worlds largest LBG factory in operation

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2018-08-23

Scandinavian Biogas Interim report for the period 1 January – 30 June 2018

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2018-08-23

Court ruling in the penalty fee dispute in Ulsan, South Korea

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2018-07-03

Profitability 2018 is estimated to be lower than previously communicated

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2018-06-29

Safer management of your personal information

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2018-06-20

The nomination committee’s proposal regarding board of directors and remuneration for the annual general meeting 2018

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2018-05-25

SUMMONS TO THE ANNUAL GENERAL MEETING OF SHAREHOLDERS IN SCANDINAVIAN BIOGAS FUELS INTERNATIONAL AB (PUBL)

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2018-05-22

Results from Scandinavian Biogas written procedure

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2018-05-02

Results from Scandinavian Biogas Fuels International AB’s written procedure and renewed written procedure

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2018-04-26

Scandinavian Biogas Interim Report for the period 1 January – 31 March 2018

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2018-04-11

Scandinavian Biogas initiates a written procedure

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2018-03-20

Scandinavian Biogas Annual Group Report 2017

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2018-03-12

The first shipload of feed stock has been received at Biokraft's biogas plant at Skogn

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2018-02-15

Scandinavian Biogas Year-end report for the period 1 January – 31 December 2017

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2018-01-10

Scandinavian Biogas is including one-off costs in annual Group accounts 2017 and updating Outlook 2017

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2017-11-21

Scandinavian Biogas’ Board will evaluate various strategic and capital structure alternatives

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2017-10-26

Scandinavian Biogas Interim Report for the period 1 January – 30 September 2017

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2017-08-24

Scandinavian Biogas Interim Report for the period 1 January – 30 June 2017

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2017-08-16

Scandinavian Biogas publishes bond prospectus and applies for listing of the additional bonds on Nasdaq Stockholm

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2017-06-30

Scandinavian Biogas press release amendment of terms and conditions

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2017-06-15

Scandinavian Biogas issues subsequent SEK 30 million senior secured bonds

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2017-05-17

Scandinavian Biogas rights issue over-subscribed

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2017-04-28

Scandinavian Biogas Interim report for the period 1 January – 31 March 2017

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2017-04-13

Scandinavian Biogas has decided on a directed share issue of approximately SEK 43 million and a rights issue of approximately SEK 23 million

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2017-04-10

SUMMONS TO THE ANNUAL GENERAL MEETING OF SHAREHOLDERS IN SCANDINAVIAN BIOGAS FUELS INTERNATIONAL AB (PUBL)

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2017-02-28

Scandinavian Biogas Year-end report for the period 1 January – 31 December 2016

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2017-02-08

Scandinavian Biogas is preparing the group for a public listing of its share – signing loan agreements for 16 MSEK for the forthcoming share issue

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2016-10-28

Scandinavian Biogas Interim report for 1 January – 30 September 2016

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2016-09-07

Press Release

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2016-09-01

International scientific biogas conference

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2016-08-19

Press Release

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2016-08-18

Interim Report - Q2 2016

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2016-07-14

New European grant to

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2016-04-29

Press release

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2016-04-29

Interim Report - Q1 2016

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2016-03-30

Summons to the Annual General Meeting

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2016-02-18

Unutilized residues

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2016-02-08

Issues 4-year senior secured bond

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2016-02-08

Invests in a new Liquid Biogas Plant

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2015-04-29

Summons to the annual general meeting of shareholders

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2014-08-14

Macroalgae may be a new substrate in biogas production

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2014-04-22

Board of directors

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2014-04-22

Business objectives

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