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.

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.

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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.”