Charwood Energy Reports Growth in Business Volume for 2023

Charwood Energy, a French company recognized for its innovative solutions in energy recovery from biomass, has announced an increase in its business volume for the fiscal year 2023. Despite a slight decrease in revenue to €4.2 million from €4.9 million in 2022, the company has seen a total business activity growth to €6.5 million in 2023 from €5.5 million the previous year, marking an 18% increase. This is attributed to a significant rise in other operating income, which jumped to €2.3 million from €0.6 million, largely due to stored and capitalized production.

Charwood Energy's primary revenue streams come from the design, construction, and installation of bespoke energy solutions for external clients, including farms, manufacturers, and local authorities. The company also highlighted significant operational achievements in 2023, such as launching and completing various biomass boiler units across France. Looking ahead, Charwood Energy has a strong outlook for 2024, with a secure order book of €1.8 million and several projects in advanced discussions expected to contribute to the year's business volume.

The company reaffirms its ambitious revenue target of €100 million by 2027, anticipating the operation and construction of 50 directly owned plants, driven by strong market dynamics for renewable energy development. Charwood Energy is scheduled to publish its 2023 annual results on 29 April 2024.