REG - Active Energy Group - Completion of Lumberton Acquisition

Active EnergyAnnouncement

27/03/2019 07:05

RNS Number : 0897U
Active Energy Group PLC
27 March 2019
 


Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy
27 March 2019
Active Energy Group Plc ('Active Energy', 'AEG'or the 'Company')
Completion of Lumberton Site Acquisition
 
Active Energy, the London quoted renewable energy and forestry management business focussed on biomass, is pleased to announce that further to the Company's announcement of 4 March 2019, the outstanding condition relating to the acquisition of the industrial site in Lumberton, North Carolina (the "Acquisition") has now been satisfied. As such, following the satisfactory review and acceptance of all inspections and titles, as well as appropriate re-zoning for its recognised industrial uses, the Acquisition has completed. 
 
The Lumberton site will become the new base for all AEG's CoalSwitch™ operations in the US and house the first permanent production facility for CoalSwitch™.  
 
The Company's Directors look forward to providing further updates regarding the development of the Lumberton site and the installation of the initial CoalSwitch™ plant as appropriate.
 
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
 
**ENDS**
 
Enquiries& Further Information:
 



Website


LinkedIn


 




www.aegplc.com


www.linkedin.com/company/activeenergy
 


 



 



Enquiries




Active Energy Group Plc


Michael Rowan
Chief Executive Officer (Active Energy)
Antonio Esposito
Chief Operations Officer (Active Energy)


 




SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker
 


David Hignell / Lindsay Mair / Jamie Spotswood


Office: +44 (0)20 3470 0470




Optiva Securities Ltd Joint Broker


Jeremy King


Office: +44 (0)20 3137 1902




St Brides Partners
Financial PR Adviser


Melissa Hancock / Gaby Jenner


info@stbridespartners.co.uk
Office: +44 (0) 20 7236 1177



 
About Active Energy Group:
Active Energy Group plc is a London listed (AIM: AEG) renewable energy company that has developed a proprietary technology which transforms low-cost biomass material into high-value green fuels.  Its patented product CoalSwitch™ is the world's only drop-in biomass fuel that can be mixed at any ratio with coal or completely replace coal in existing coal-fired power stations without requiring plant modification.
 
Active Energy Group's immediate strategic focus is the production and commercialisation of CoalSwitch™ and SuperFuel™, a low emission CoalSwitch™ blend that utilises waste coal fines. 
 




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