Active Energy Group PLC (LON:AEG) is predicting a strong second-half with work underway to increase output at its wood processing operation near Odessa, in Ukraine, by a third to 4,000 tonnes per day.
It should reach that landmark in the fourth-quarter, the company said in its interim results statement.
The update also revealed the timber processing, forestry management and renewable energy firm already making excellent progress at its WoodFibre operation, which led to an 11% increase in revenues to US$13.4mln.
The knock-on impact was to move the firm into profit at the operating level to the tune of US$1.015mln from a US$569,000 loss this time last year.
A more than doubling in finance expenses, largely the result of a negative impact of foreign exchange rate movements, meant AEG posted a modest pre-tax loss.
During the period it brought in US$2.65mln (£2.05mln) of new investment that will help fund expansion.
While wood processing provides the bulk of the company’s income, AEG also has plans in train to become a forestry management specialist.
It said it is making progress finalising a deal to help develop and commercialise 186,500 hectares of mature woodland in Alberta, Canada, on behalf the indigenous population known as the Métis.
At the same time it is helping pioneer a technology that would allow biomass to be burned efficiently and cleanly in coal-fired power stations.
This could give a new lease of life to plants currently threatened with de-commissioning under new regulations governing the emission of greenhouse gases.
It has demonstrated the process works and potential commercial partners are currently testing the technology.
The objective is to finance and build the first commercial-scale plant in North America.
Chief executive Richard Spinks said: "With a number of significant milestones attained and next steps identified, notably in the near-term, I believe these are truly exciting times for the company as we look to rapidly accelerate our growth and build shareholder value, across our synergistic operating divisions."