This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
4 August 2020
Active Energy Group Plc
('Active Energy', 'AEG' or the 'Company')
Construction and Air Permit Granted
Active Energy, the international biomass based renewable energy business, is pleased to announce that the construction and air permit (the "Permit") for the Company's CoalSwitch™ plant at Lumberton, North Carolina (the "Lumberton Site") has been granted by the NC Division of Air Quality. With the issuance of the Permit, Active Energy can now commence the final stage planning and construction for a CoalSwitch™ plant targeting production capacity of up to 5 tonnes per hour.
Michael Rowan, CEO, Active Energy Group, comments:
"The receipt of the Permit will transform Active Energy into a leading provider of waste to energy, second generation biomass technologies and represents the final approval required at the Lumberton Site, marking a major milestone for the Company. Active Energy can now push forward unhindered with completing the construction of an operable CoalSwitch™ plant at the Lumberton Site and provide the first working showcase of CoalSwitch™ technology. We would like to thank the NC Division of Air Quality for their ongoing support throughout this process."
Activity at the Lumberton Site has accelerated in recent weeks as Active Energy creates a strategically located hub for lumber and next generation biomass pellet operations in the US. The granting of the Permit is the next step in Active Energy's long term plan to develop complementary lumber and biomass activities.
Active Energy Group Plc
Chief Executive Officer
Chief Operations Officer
SP Angel Corporate Finance LLP
Nominated Adviser and Broker
David Hignell / Caroline Rowe
Office: +44 (0)20 3470 0470
Allenby Capital Limited
Amrit Nahal / David Worlidge
Office: +44 (0)20 3328 5656
Financial PR Adviser
Gordon Poole / Tom Huddart / Emily Hall
Office: +44 (0) 20 3757 4980
About Active Energy:
Active Energy Group plc is a London quoted (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.