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Helius Energy posts loss

Biomass energy development firm Helius Energy has posted a first half net loss of £0.6 million (€0.7 million) compared with a pre-tax profit of £18,875 last time.

At the end of March this year the company reported a cash balance of £12.8 million (H1 2009 £16.8m) and its net assets totaled £30 million (H1 2009 £34 million).

According to Adrian Bowles, chief executive at Helius, the company has had a successful six months and has gained approval for the construction of a 100Mwe biomass power plant in Avonmouth, UK.

Bowles added: ‘We maintain a strong cash position, which enables us to continue the development of our project portfolio, and I expect to be able to announce a further scheme later this year.’