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Active Energy Group Plc inks US partnership with renewable power group

"This is an important development for Active Energy, which we believe will result in a significant increase in CoalSwitch and PeatSwitch production capacity in the US."

power lines
GRP has operating renewable power plants in North Carolina and Georgia

Active Energy Group PLC (LON:AEG) has inked a joint venture agreement with an American renewable energy group, with power plants in the states of North Carolina and Georgia.

The agreement between Active and Georgia Renewable Power LLC (GRP)  envisages the installation of the company’s CoalSwitch facilities into operational plants. It also sees the new partners develop organic waste fertilizer products and utilise, and using the CoalSwitch and PeatSwitch technologies for complementary sales of biomass.

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Initially, it is planned that CoalSwitch will be installed at the Lumberton plant, in North Carolina. It is expected that it will be put in place before the end of the year, and, will be followed by installations in Georgia over the next 36 months.

It is anticipated that up to 100 tonnes per hour of CoalSwitch facilities will be installed.

"This is an important development for Active Energy, which we believe will result in a significant increase in CoalSwitch and PeatSwitch production capacity in the US, the diversification of AEG's activities in terms of both geography and feedstock, and additional revenue streams through biomass trading,” said Michael Rowan, Active Energy chief executive.

"This agreement will shorten the timescales for large-scale commercialisation of our CoalSwitch and PeatSwitch products and will also allow AEG to benefit from the experience and the presence of our partner GRP, thus strengthening our capabilities in the next operational phase of our business plan.”

Rowan added: "We are delighted to be working with the GRP team who have been instrumental in the commercialisation and adoption of biomass-to-energy power generation in south-east U.S. 

“We believe the clear synergies between GRP's business and ours make a compelling proposition and together we look forward to leveraging the benefits of our unique CoalSwitch and PeatSwitch technologies to develop into new markets.”

GRP chief operating officer, Dave Schafer said: "I am very pleased to have concluded the joint venture with AEG and achieve the opportunity to participate in the commercialisation of both the CoalSwitch and PeatSwitch programmes.

“I believe that the JV has the potential to make a significant impact both in the US and internationally as commercial quantities of both CoalSwitch and PeatSwitch become available.

“The programme for research and development into LitterSwitch™ also could provide tremendous market opportunities."

Quick facts: Active Energy Group PLC

Price: 0.485 GBX

LSE:AEG
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Market Cap: £5.83 m
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