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  ENERTIME company press release from 16/03/2021

  16/03/2021 - 18:00

ENERTIME COMMUNICATES ON THE PROJECTS SUBMITTED TO ADEME INDUSEE CALL FOR PROPOSALS OF OCTOBER 2020


ENERTIME (FR0011915339 - ALENE), a French CleanTech Company offering equipment and services for industrial energy efficiency and geothermal energy production reports on the four projects submitted by its subsidiary ENERGIE CirculaIrE to the IndusEE call for projects from ADEME (French environmental and energy management agency) closed on October 20th, 2020.

The project that was rejected by ADEME in December 2020 has been technically and economically redesigned. It is now based on a co-development agreement signed with the site operator and a third-party heat consumer. An official communication will be made as soon as the project has received an initial validation from the local political authorities. Enertime considers this project as being exemplary in terms of circular economy and territorial impact, with a concept that can be easily duplicated in France and abroad.

The second project, representing a total amount of € 6.4 million, involves the installation of a 1.8 MW ORC coupled with an air compressor to transform waste heat into compressed air for the needs of a Verallia Group glassworks in Lagnieu in the Auvergne Rhône-Alpes region. This project has received a €2.3 million grant from ADEME.

The third project is still being examined by ADEME.

Therefore, these first three projects remain fully relevant.

The fourth project has not been selected by ADEME, it could be abandoned or modified and, in this case, be the subject of a new filing to the next session of ADEME's call for projects, which opened on March 11th and to be closed on May 17th. Enertime plans to submit several new projects for this next session, again through its subsidiary ENERGIE CIRCULAIRE.

Given the success of the initiative and the current strong momentum around its technologies, ENERTIME does not exclude being entrusted, as an equipment supplier, with the realization of ORC projects selected in the call for projects without the involvement of ENERGIE CIRCULAIRE. This would fulfill the will of the French government to develop a strategic industrial sector around waste heat recovery technologies.

Gilles David, CEO of ENERTIME, said: "The recovery of waste energy in industrial processes is at the heart of ENERTIME's strategy. Our goal is to become, thanks to these projects, a reference player in France and on the world market of industrial energy efficiency, in particular for the design, manufacture and implementation of next-generation and high-power thermodynamic machines. Our offer, combining industrial ORC and Heat Pump modules, including under a third-party-financed model, is timely for the decarbonization of the European industry and for making it sustainable despite the unavoidable increase in energy prices.


MORE INFORMATION ABOUT THE ADEME INDUSEE CALL FOR PROJECTS

The “France Relance” Plan aims to accelerate the ecological conversion of the French economy and its productive fabric. The French Government has thus allocated €1.2 billion in subsidies by 2022 to improve energy efficiency, change manufacturing processes and decarbonize heat production in French industry. The IndusEE call for projects was launched by ADEME as part of this Plan. This call for projects and two other similar consultations benefits from an envelope of €200 million, which will be allocated by the first quarter of 2021 at the latest. A second wave of this call for projects is planned for 2021. More information is available on ADEME website https://www.ademe.fr/decarbonation-lindustrie.


CONCERNING ENERTIME

Founded in 2008, ENERTIME designs, develops, and implements Organic Rankine Cycle (ORC) machines and high temperature heat pumps for industrial energy efficiency and production of geothermal energy. Relying on a diversified portfolio of proprietary technologies and multidisciplinary technical skills, ENERTIME supports its Customers and Industrial Partners in the implementation of complex industrial solutions to produce thermal or electrical energy. ENERTIME's ORC machines convert heat into electricity or compressed air, Heat Pumps produce high temperature heat from lower temperature heat and electricity. Gas expansion turbines recover energy wasted in gas distribution networks to produce electricity and cold. On the ORC market, ENERTIME is one of the world's four largest players and the only French company fully mastering the technology of high-power machines (1 MW and more).

Based in the Great Paris Region, ENERTIME employs 33 people, including 16 engineers.

ENERTIME is listed on the Euronext Growth market. ISIN: FR0011915339 - Mnemo: ALENE. More information on www.enertime.com.


CONTACT

ENERTIME

Gilles DAVID - CEO - [email protected]

Sophie DUGUE - Office Manager - [email protected]

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  Original Source: ENERTIME