Kedco
Encyclopedia
Kedco plc is a bioscience energy company operating in the United Kingdom
and Ireland
which was established in 2005.
(AIM) of the London Stock Exchange
on Monday October 20, 2008. Kedco was admitted to the AIM at 17.5c per share giving the company a market capitalisation of €35.0million. Share price since launch spiked at over 30 cent a share before falling over the following months and as of early May 2010 stands at 7 cent a share. The company has made significant losses since its foundation in 2005, however losses have fallen along with revenue since an investment by FBD and entry into the LSE. On 17th February 2010 the company announced that it had "been unable to secure financing on suitable terms" for a development in Newry, Co. Down and that it may have to "pursue alternative means of maintaining adequate cash reserves including management of its working capital position". On May 10th 2010 the company admitted that it had still not been successful in finding alternative funding and announced the appointment of external advisers to assist in this aim. The company was subsequently able to source adequate funding to meet its day to day obligations, however February 2011 saw renewed fears being expressed that the company was about to delist from the AIM. Subsequently the Chief Executive Officer resigned on 31 March 2011.
The Power division specialises in power generation from sustainable fuel sources with Kedco providing bio-science solutions to industrial clients by converting waste into an energy resource.
The Energy
division supplies renewable energy heating products within Ireland, primarily to Residential customers.
Kedco registered with Sustainable Energy Ireland as Wood pellet Boiler manufacturers despite being only registered resellers of boilers manufactured by OPOP (a Czech company). Kedco had originally established a franchise network to supply its wood pellet boilers and stoves to the Irish public but most franchisees had terminated their contracts within twelve months, citing a lack of effective training and a failure by the company to properly develop their product range.
While both divisions are in operation to date, the company stated in a press release in late 2008 that "Kedco Power constitutes the main part of the company going forward".
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
and Ireland
Republic of Ireland
Ireland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...
which was established in 2005.
Stock market listing
Kedco floated on the Alternative Investment MarketAlternative Investment Market
AIM is a sub-market of the London Stock Exchange, allowing smaller companies to float shares with a more flexible regulatory system than is applicable to the main market....
(AIM) of the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
on Monday October 20, 2008. Kedco was admitted to the AIM at 17.5c per share giving the company a market capitalisation of €35.0million. Share price since launch spiked at over 30 cent a share before falling over the following months and as of early May 2010 stands at 7 cent a share. The company has made significant losses since its foundation in 2005, however losses have fallen along with revenue since an investment by FBD and entry into the LSE. On 17th February 2010 the company announced that it had "been unable to secure financing on suitable terms" for a development in Newry, Co. Down and that it may have to "pursue alternative means of maintaining adequate cash reserves including management of its working capital position". On May 10th 2010 the company admitted that it had still not been successful in finding alternative funding and announced the appointment of external advisers to assist in this aim. The company was subsequently able to source adequate funding to meet its day to day obligations, however February 2011 saw renewed fears being expressed that the company was about to delist from the AIM. Subsequently the Chief Executive Officer resigned on 31 March 2011.
Divisions
Kedco operates 2 distinct divisions targeting both Residential and Industrial client bases.The Power division specialises in power generation from sustainable fuel sources with Kedco providing bio-science solutions to industrial clients by converting waste into an energy resource.
The Energy
Energy
In physics, energy is an indirectly observed quantity. It is often understood as the ability a physical system has to do work on other physical systems...
division supplies renewable energy heating products within Ireland, primarily to Residential customers.
Kedco registered with Sustainable Energy Ireland as Wood pellet Boiler manufacturers despite being only registered resellers of boilers manufactured by OPOP (a Czech company). Kedco had originally established a franchise network to supply its wood pellet boilers and stoves to the Irish public but most franchisees had terminated their contracts within twelve months, citing a lack of effective training and a failure by the company to properly develop their product range.
While both divisions are in operation to date, the company stated in a press release in late 2008 that "Kedco Power constitutes the main part of the company going forward".
Proposed biogas plant
A group of residents of templeusque, Co. Cork have claimed that the company has been associated with a proposed development of a Biogas generating plant in Co. Cork. At present planning has not yet been granted for the plant but residents have established a website to demonstrate their opposition to the proposed development.See also
- Solar energy
- Wood pelletsWood pelletsWood pellets are a type of wood fuel, generally made from compacted sawdust or other wastes from sawmilling and other wood products manufacture, but also sometimes from sources such as whole-tree removal or tree tops and branches leftover after logging and which otherwise help replenish soil...
- Renewable energyRenewable energyRenewable energy is energy which comes from natural resources such as sunlight, wind, rain, tides, and geothermal heat, which are renewable . About 16% of global final energy consumption comes from renewables, with 10% coming from traditional biomass, which is mainly used for heating, and 3.4% from...
- Bioethanol
- Anaerobic digestionAnaerobic digestionAnaerobic digestion is a series of processes in which microorganisms break down biodegradable material in the absence of oxygen. It is used for industrial or domestic purposes to manage waste and/or to release energy....
- List of Alternative Investment Market companies