Maltby’s reserves give boost to Alkane

Methane miner Alkane Energy reported a 44 per cent rise in output in the first half of 2013 and said the acquisition of Maltby Colliery’s methane reserves leaves it well placed.

By The Newsroom

Published 12th Sep 2013, 09:47 BST

The group reported a 48 per cent increase in half year pre-tax profits to £1.4m.

Alkane said it is working on two new sites with a further site in Yorkshire expected to be announced later this year.

Following recent announcements from the Department of Energy & Climate Change and Ofgem over the risk of power cuts as generating capacity shrinks over the coming years, the group said it is in a strong position to take advantage of business opportunities.

Chief executive Neil O’Brien said: “With the very real prospect of a shortfall in energy supply in the UK we will continue with our strategy of growing output and installed capacity. Our successful acquisition of the Maltby Colliery methane assets and the £6.0m fundraising leave us well placed.”