Active Energy Group PLC Purchase Order with Young Living Farms (1919G)
28 February 2018 - 6:00PM
UK Regulatory
TIDMAEG
RNS Number : 1919G
Active Energy Group PLC
28 February 2018
Active Energy Group Plc / EPIC: AEG / Sector: Alternative
Energy
28 February 2018
Active Energy Group Plc ('Active Energy' or the 'Company')
Purchase Order with Young Living Farms
Active Energy, the London quoted international biomass based
renewable energy and forestry management business, is pleased to
announce that it has entered into an initial supply agreement with
Young Living Farms ('YLF'), a leading agricultural company focused
on essential oils production, for a new high value soil amendment
product, utilising the Company's CoalSwitch(TM) process. This
agreement marks a new revenue stream for the Company and also
demonstrates the flexibility and commercial value of the Company's
unique CoalSwitch(TM) process across multiple applications.
Overview:
-- Agreement for YLF to supply Active Energy up to 6,500 tonnes
of product, exploiting the Company's versatile CoalSwitch(TM)
process at the Company's 's first commercial plant in Utah, United
States;
-- Feedstock for the process will be by-product from YLF's
essential oil production - a waste stream for YLF, but a highly
attractive feedstock for the CoalSwitch(TM) process;
-- Product from CoalSwitch(TM) process will be used as a high
value soil amendment product for the re-introduction to YLF's crop
production cycle;
-- Initial deliveries will begin in March 2018 for which the
Company will receive payment on a per tonne basis;
-- Agreement provides a foundation for a long-term relationship
with YLF and the implementation of dedicated soil amendment plant
to be installed on YLF's farm site at Mona, Utah in mid-2018;
and
-- Evaluation of roll out opportunities for additional soil
amendment plants is being conducted with YLF, with three initial
facilities located in the USA and Canada targeted.
Michael Rowan, Active Energy Non-Executive Chairman said, "The
unique properties and applications of our CoalSwitch(TM) process is
attracting significant attention from utility companies, government
agencies and power plant operators. With today's announcement, we
have expanded our commercial activity to the agricultural sector.
Our unique process can be applied to target specific engineered
soils, which remove potentially environmentally damaging waste
streams and use this as feedstock. This engineered soil becomes an
environmentally responsible alternative to the use of peat
moss.
"We look forward to working closely with the YLF team over the
coming months as we look to begin the wider roll out of dedicated
soil amendment plants with further collaborations with YLF."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
**ENDS**
Enquiries & Further Information:
Enquiries
----------------------------------------------------------------------------
Active Energy Michael Rowan michael.rowan@aegplc.com
Group Plc Non-Executive Chairman
------------------- ------------------------- ----------------------------
Richard Spinks richard.spinks@aegplc.com
Chief Executive Officer
------------------- ------------------------- ----------------------------
Northland Capital David Hignell / Gerry Office: +44 (0)20
Partners Limited Beaney 3861 6625
Nominated Adviser
------------------- ------------------------- ----------------------------
Optiva Securities Graeme Dickson /
Ltd Ed McDermott Office: +44 (0)20
Broker 3137 1902
------------------- ------------------------- ----------------------------
St Brides Partners Susie Geliher / Isabel info@stbridespartners.co.uk
Financial PR de Salis Office: +44 (0)
Adviser 20 7236 1177
------------------- ------------------------- ----------------------------
About Active Energy Group:
Active Energy Group Plc (AIM: AEG.L) is a London Stock
Exchange-listed international renewable energy business based upon
forestry assets. Its model is focussed on capturing the entire
forestry value chain through sourcing, utilising and
commercialising assets, and setting a new standard in the
sustainable management and optimisation of timber resources. The
Company is led by a highly technical and commercial team with the
experience to execute its defined growth strategy and build its
visibility, primarily as a London-listed timber opportunity with a
revolutionary biomass fuel technology. It has two subsidiary
companies:
-- Advanced Biomass Solutions Plc (www.abs-plc.com), which is
commercialising a revolutionary biomass coal replacement fuel,
CoalSwitch(TM); and
-- Timberlands International Ltd, a sustainable international forestry management business.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCKMGZZVRRGRZG
(END) Dow Jones Newswires
February 28, 2018 02:00 ET (07:00 GMT)
Active Energy (LSE:AEG)
Historical Stock Chart
From Apr 2024 to May 2024
Active Energy (LSE:AEG)
Historical Stock Chart
From May 2023 to May 2024