Active Energy Group PLC First production of CoalSwitch(TM) at Ashland (4931A)
02 June 2021 - 4:00PM
UK Regulatory
TIDMAEG
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(TM) at the Ashland Facility
Active Energy, the London quoted international biomass based
renewable energy business, is pleased to announce that production
of CoalSwitch(TM) 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(TM) 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 CoalSwitch (TM) 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(TM), 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(TM) 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(TM). This is
part of AEG's plan to have two operational CoalSwitch(TM) 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(TM) to PacifiCorp on time and
accelerate the CoalSwitch(TM) 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 Michael Rowan (Chief info@aegplc.com
Plc Executive Officer)
Andrew Diamond (Chief
Financial Officer)
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SP Angel Corporate David Hignell / Caroline Office: +44 (0)20
Finance LLP Rowe 3470 0470
Nominated Adviser and (Corporate Finance)
Joint Broker Rob Rees (Sales)
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Allenby Capital Limited Nick Naylor/James Reeve Office: +44 (0)20
Joint Broker (Corporate Finance) 3328 5656
Amrit Nahal (Sales/Corporate
Broking)
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Camarco Gordon Poole / Tom Huddart aeg@camarco.co.uk
Financial PR Adviser / Emily Hall Office: +44 (0)20
3757 4980
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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(TM) 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(TM) and a low emission CoalSwitch(TM) blend that
utilises other waste materials.
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END
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