Bion PLC Trading Update (2181V)
April 13 2021 - 1:00AM
UK Regulatory
TIDMBION
RNS Number : 2181V
Bion PLC
13 April 2021
13 April 2021
BiON plc
("BiON" or "the Company")
Trading Update
BiON (AIM: BION), an environmental engineering, wastewater
treatment and renewable energy solutions company, provides an
update on trading for the year ended 31 December 2020 ahead of
announcing its annual audited results in June 2021.
As noted in the Company's interim results announcement, during
the first half of 2020, BiON was active in sourcing and securing
engineering, procurement, construction and commissioning ("EPCC")
contracts and this momentum increased through the second half of
the year. The Company also succeeded in recommencing power sales at
its Malpom biogas power plant in December 2020. As a result of this
progress, the Company expects to report revenue for full year 2020
of at least RM100m, representing growth of more than 310% over
2019. As noted above, these results remain subject to audit.
In particular, the growth has been driven by the expansion of
the Company's EPCC activities in Indonesia in the second half of
the year, where BiON completed a number of projects under
eco-infrastructure initiatives. BiON continued the upgrading works
at its Kahang (2MW) and Malpom (2MW) biogas power plants as well as
progressing its Seberang Perak (2MW) and Nasaruddin (1MW) plants
that it acquired in the second half of the year. This enabled
Malpom to r ecommence supplying electricity (at an initial reduced
capacity) to Tenaga Nasional Berhad ("TNB"), Malaysia's largest
integrated electricity company, at the end of the year.
Post period, at the end of January 2021, BiON commenced
commercial operations at Seberang Perak. This followed the receipt
of the certificate of initial operation date ("IOD") from the
regulatory authorities, which enables the Company to sell
electricity to TNB at a discount tariff rate. The Company expects
to receive the certificate of commercial operation date, which will
allow it to receive the full Feed-in-Tariff rate, as well as the
IOD for Nasaruddin in the coming weeks, subject to government
restrictions on travel related to the COVID-19 pandemic. BiON has
continued to pursue EPCC contracts in Malaysia and Indonesia and to
progress the upgrading works at Kahang and Malpom that will enable
full operations to resume. In addition, the Company is engaged in
seeking to convert and expand its pipeline of renewable energy and
waste-to-value projects in line with its stated strategy.
The Company will provide further information at the time of its
annual results announcement.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018.
Enquiries:
BiON plc
Datuk Syed Nazim bin Syed Faisal, CEO
Fakrizzaki Ghazali, CFO +603 6413 1085
Elle Sia, UK Country Manager +44 203 633
www.bionplc.com 0891
Beaumont Cornish Limited (Nominated Adviser)
+44 20 7628
Roland Cornish, Felicity Geidt 3396
VSA Capital Limited (Joint Broker)
Andrew Raca, Maciek Szymanski, Vivian Papasotiriou +44 203 005
(Corporate Finance) 5000
Andrew Monk (Corporate Broking)
Optiva Securities Limited (Joint Broker)
+44 20 3137
Vishal Balasingham 1903
Luther Pendragon (Financial PR Adviser)
+44 20 7618
Claire Norbury 9100
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END
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