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Active Energy receiving interest from Europe as coal restrictions tighten

Europe remains a natural market especially as new legislation aimed at limiting the use of coal power is introduced,

Active Energy Group PLC -

Active Energy Group PLC (LON:AEG) says samples of its CoalSwitch fuel alternative and biomass black pellets are now being sent to potential customers in Europe as well as the US.

Europe remains a natural market especially as new legislation aimed at limiting the use of coal power is introduced, said chairman Michael Rowan.

A testing programme, producing smaller samples of biomass fuels, is being established both for potential US and European customers, which includes Rocky Mountain Power in Utah and a Europe-based biomass trader, as well as agricultural and forestry companies and complementary renewable technology businesses.

Rowan added in the interim statement: “In summary, the team has made significant progress. 

“We have acquired the Lumberton Site and have a defined plan for the commercialisation of CoalSwitch contemporaneously with additional products.”

Losses for the half-year were £1.83mln (£1.6mln) with Active Energy yet to start generating revenues as Lumberton is in its start-up phase.

Lumberton, in North Carolina, will the base for all Active Energy's CoalSwitch operations in the US. 

Quick facts: Active Energy Group PLC

Price: 0.45 GBX

LSE:AEG
Market: LSE
Market Cap: £5.41 m
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