REG - Active Energy Group - First production of CoalSwitch™ at Ashland

Active EnergyAnnouncement

02/06/2021 07:00

RNS Number : 4931A
  
Active Energy Group PLC
  
02 June 2021
  
 

Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy
2 June 2021
 
Active Energy Group Plc
("Active Energy", "AEG", or the "Company")
 
First production of CoalSwitch™ at the Ashland Facility
 
Active Energy, the London quoted international biomass based renewable energy business, is pleased to announce that production of CoalSwitchTM has commenced at the Company's facility located at Ashland, Maine (the "Ashland Facility"), following the rapid construction of the 5 tonne per hour production facility.
Deliveries of the first CoalSwitch™ fuel to PacfiCorp's Hunter Valley power plant will commence during this week for use in their testing programme which has been scheduled for the week commencing 14 June 2021. The CoalSwitchTM production by the Ashland Facility is part of the joint venture (the "JV") between AEG and Player Design Inc, details of which were announced on 20 May 2021.
The Ashland Facility has been granted an initial permit (the "Permit") for the production of 1,000 tons of CoalSwitch™, to be produced by no later than 31 July 2021. Emissions data from the initial production will be supplied to the State of Maine for their analysis. The JV will then apply to the State of Maine to extend the terms of the Permit to enable the Ashland Facility to expand its production to up to 35,000 tonnes of CoalSwitch™ per year.
Michael Rowan, CEO, Active Energy Group:
"We are delighted to have successfully commissioned the Ashland Facility and to have begun production of CoalSwitch™. This is part of AEG's plan to have two operational CoalSwitch™ plants on the east coast of the US during 2021. I would like to thank all involved for their support in recent weeks, notably the State of Maine and the engineering team at Player Design. We will now proceed to deliver CoalSwitch™ to PacifiCorp on time and accelerate the CoalSwitch™ fuel testing programme."
Regulatory Information
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
 
ENDS



Enquiries




Active Energy Group Plc


Michael Rowan (Chief Executive Officer)
Andrew Diamond (Chief Financial Officer)


  info@aegplc.com




SP Angel Corporate Finance LLP
Nominated Adviser and Joint Broker


David Hignell / Caroline Rowe
 (Corporate Finance)
Rob Rees (Sales)


Office: +44 (0)20 3470 0470




Allenby Capital Limited
Joint Broker


Nick Naylor/James Reeve (Corporate Finance)
Amrit Nahal (Sales/Corporate Broking)


Office: +44 (0)20 3328 5656




Camarco
Financial PR Adviser


Gordon Poole / Tom Huddart / Emily Hall


aeg@camarco.co.uk
Office: +44 (0)20 3757 4980



 
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 a low emission CoalSwitch™ blend that utilises other waste materials.
 
 
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
MSCUAONRAVUNRAR