Deutsche Environmental & Renewable Energy PLC

October 16, 2009 14:27 ET

DERE Confirms Positive Forecasts for 2009 and New Deals for EUR 70 Mio

LONDON, UNITED KINGDOM--(Marketwire - Oct. 16, 2009) - The Deutsche Environmental & Renewable Energy Plc ("DE/RE") confirms that earlier positive forecasts for the year 2009 are still in line with the current expectations from management.

DE/RE's CEO Mr. Floor Mouthaan says: "We think that the deals in progress amount to EUR 70 million and the revenue to be invoiced for 2009 is projected to EUR 15 million, and we are proud to announce the acquisition of a minority stake in a German biogas energy provider."

The net margin on projects for 2009 will be positive and is estimated to be EUR 3 to 4 Mio, despite the delay of 3 to 6 month in fundraising.

Strategically DERE continues to focus on clean and green technology. The focus will be waste processing, wind energy and solar technology. The projects of Bebra BV, a 100% subsidiary of DERE, are related to 12 MW wind energy, 12 MW solar energy and 3 waste to energy plants. Within each sector major progress has been made and management is pleased to announce a first acquisition of a minority interest in a leading German decentralised energy provider with a strong focus on biogas activities in Germany and Eastern Europe. Furthermore discussions of potential acquisitions in the field of organic waste processing and solar technology are making good progress and are in advanced negotiations.

The financing of both, the acquisition as well as the first projects are to be executed mainly in Italy, Slovenia, Croatia and Bosnia and are secured by the earlier announced convertible loan.

With regard to the new structure of DERE, management has formally started the liquidation of Fundus Ltd. in London.

Further discussions with new investors have been influenced by the ongoing negotiations with regard to Swiss Hawk and also by a period of strong selling of shares by former (pre merger) founding shareholders. These discussions with new investors are ongoing and management believes that the execution will be successfully finalised during the fourth quarter 2009.

Recently, US partners have approached DERE to study opportunities for joint activities in the USA. Based on the present know-how and technologies in the Group, Management has signed in first agreements and is looking at various funding opportunities including a dual listing in the USA.

Based on the current position of DERE, management will also continue its efforts for filing on the regulated market on the Frankfurt Stock exchange.

Management believes that the recent weeks have shown consistent pressure on the stock price as a result of the abovementioned circumstances but also believes that this situation has contributed to a stable new shareholder base for the future as well as for liquidity in the stock market. Compared with 2008, the net earnings per share will show a significant growth.

Management stays positive on the development of the Group and will report to shareholders on a quarterly basis with business updates starting in the first quarter of 2010

This announcement will be followed by specific press releases on individual transactions, developments and financials. Further information and details will follow very soon on our website


This press release contains forward-looking statements based on beliefs of DE/RE management. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements. Such statements reflect the views of DE/RE as of the date made with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy. DE/RE disclaims any intention or obligation to update these forward-looking statements.

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