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Press Releases: Preliminary Results 2005
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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