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Tersus
Energy Plc
(“Tersus Energy” or “the Company”)
Preliminary results for the year ended 31 December 2005
Tersus Energy Plc (AIM:TER), formerly
MCC Energy Plc, today announces preliminary results
for the year ended 31 December 2005.
Highlights
Operational
- Admitted to AIM in February 2005
raising £3million; an additional £4million
raised in December 2005
- £4.5million invested in eight
acquisitions / investments
- JVs agreed for renewable energy
project developments in China and India and with global
bioenergy technology partners
During 2005
- Tersus Asian Renewables
- Investment in Tang Group, the
Asian project developer
- Development agreement with
Tang Group for wind and clean coal projects in
China
- Tersus BioEnergy
- Investment in Dynamotive Energy
Systems in process of being realised in 2006 at
profit
- Development JV with Dynamotive
Energy Systems, a Canadian biofuels technology
provider
- Tersus Energy Controls
- Acquisition of Navitas Technologies,
a Canadian developer and manufacturer of electronic
energy control equipment for electric powered
vehicles
Since 31 December 2005
- Tersus Asian Renewables
- Investment in Chinese wind
industry through HT Blade
- Jasfour Power joint project
development company for wind projects in India
established
- Tersus BioEnergy
- Investment in UK agricultural
waste-to-electricity technology provider Enviro-Control
- JV for development of Enviro-Control
global project pipeline
- Tersus Energy Controls
- Investment in Thor, a US-based
developer of electric motor systems
- Acquisition of Envinta, a
US-based developer of energy and environmental
information software
Financial
- Retained loss for year £901,801
(2004 – loss of £1,448,201)
- Operating loss of £1,022,835
(2004 – loss of £1,448,201) on the continuing
business of Tersus Energy Plc and MCC Energy Group,
Inc.
- Navitas operating profit in the
2005 post-acquisition period of £67,672
- These figures do not include the
benefit of the unrealised profit on the short term
investment in Dynamotive, which is being realised
in 2006. The profit is subject to future changes in
the Dynamotive share price but, based on the 31 December
2005 share price, the unrealised pre-tax profit was
£396,000, and on the 30 April 2006 share price,
£910,000.
John Devaney, Non-Executive
Chairman of Tersus Energy Plc, said:
“We are pleased to announce
our first set of annual results since we began trading
on AIM in February last year. 2005 was a transformational
year for Tersus Energy. We have progressively broadened
our emphasis from advisory work to include investing,
operating and project development and have established
the foundations of three operating businesses, focused
on what we believe are the most attractive and significant
areas of the renewable and alternative energy sector.
High fossil fuel prices and concerns
about energy security and climate change have given
accelerating momentum to the renewable and alternative
energy markets and, via our three businesses, we intend
to participate fully in their growth and future profitability,
and in doing so create significant value for shareholders.”For
further information please contact:
please
click here for the full interim report
For further information please
contact:
MCC Energy Plc
Steve Levine, Chief Executive Officer
+1 978 635 0997
David Wilson, Finance Director
+44 20 7408 5416 / +44 7831 818 121
M Communications
Nick Fox / Harriet Totty
+44 20 7153 1540 / +44 20 7153 1590
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