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Alkane profits from mine gas
16 Sep 2009While wind farms sucking in millions in subsidies are routinely delayed by a lack of finance, a small alternative-energy firm creating electricity from gases in abandoned Nottinghamshire coal mines is continuing to improve profits.
Coal mine methane specialist Alkane Energy, which gets no renewable-energy subsidy, said half-year underlying profits rose 25% to £1.4 million, as it increased production from its current 20 megawatts to a three-years target of 50MW - enough to power a small town.
Currently active in the Notts and Yorkshire areas, the firm has won licences to do the same in Lancashire, Staffordshire and South Wales.
Chief executive Neil O'Brien said the group is also aiming to tap landfill sites.
