Active Energy Group PLC Permits granted at Ashland (4242A)
24 Mayo 2023 - 1:00AM
UK Regulatory
TIDMAEG
RNS Number : 4242A
Active Energy Group PLC
24 May 2023
24 May 2023
Active Energy Group Plc
("Active Energy" or the "Company")
Permits granted at Ashland to allow construction and operation
of the CoalSwitch(R) plant to commence
Active Energy (AIM: AEG, OTCQB: ATGVF), the international
biomass based renewable energy business, is pleased to announce
that Player Design Inc ("PDI") has informed the Company that it has
received the relevant permit (the "Permit") for the construction
and operation of a CoalSwitch(R) manufacturing facility at PDI's
site at Ashland, Maine (the "Ashland Facility").
The Permit, which has been granted by the Department of
Environmental Protection in the State of Maine (the "Department"),
will: a) allow PDI to immediately commence the final stage of
construction for the CoalSwitch(R) production plant (the
"CoalSwitch(R) Plant") at the Ashland Facility; and b) permit
manufacturing operations at the CoalSwitch(R) Plant to commence.
Under the terms of the Permit, PDI must provide certain additional
data to the Department within an initial six-month period.
PDI has confirmed to Active Energy that construction of the
CoalSwitch(R) Plant is due to be completed in Q3 2023 with first
production of CoalSwitch(R) pellets being available for delivery to
AEG's potential customers during the same quarter. The initial
annualised production volumes are anticipated by PDI to remain at a
target rate of 35,000 tons per annum and Active Energy will make
any CoalSwitch(R) produced available for delivery to the Company's
identified customers in the US and in Europe.
In conjunction with the developments at the Ashland Facility,
Active Energy continues to receive increasing enquiries for the
CoalSwitch(R) technology. In recent weeks, Active Energy has
commenced work on additional joint venture production licenses in
the US and is working on these licenses to develop the production
technology to suit specific facilities. This will, the Company
anticipates, further accelerate production volumes in US.
Tyler Player, President of Player Design Inc, commented:
"I am grateful for the support from the State of Maine for all
their efforts to ensure a successful conclusion to the permit
applications for our facility at Ashland. The project will now move
to the final phase of construction and assembly at Ashland and the
initial production of CoalSwitch (R) fuel. I look forward to making
the first deliveries of fuel to Active Energy in the coming months.
I am confident of providing the operating data to the State of
Maine which will allow for permanent operation of the CoalSwitch(R)
Plant."
Michael Rowan, CEO of Active Energy, commented:
"We are delighted that PDI has received the Permit which will
allow them to commence production of our next generation biomass
fuel, CoalSwitch(R). Active Energy has continued to raise the
profile of CoalSwitch(R) with potential customers, both in the US
and internationally, and will be sending product to these customers
immediately after first production. We look forward to working
closely with PDI towards production and we would also like to thank
the State of Maine for their ongoing support throughout this
process."
Enquiries:
Active Energy Michael Rowan (Chief info@aegplc.com
Group Plc Executive Officer)
Michelle Fagan (Chief
Financial Officer)
Allenby Capital Nick Naylor/James Reeve/Daniel Office: +44 (0)20
Limited Dearden-Williams (Corporate 3328 5656
Nominated Finance)
Adviser and Amrit Nahal (Sales/Corporate
Broker Broking)
------------------------------- -------------------------
Camarco Tom Huddart / Emily aeg@camarco.co.uk
Financial Hall / Lily Pettifar Office: +44 (0)20
PR Adviser 3757 4980
------------------------------- -------------------------
Scoville John Williams jwilliams@scovillepr.com
PR
US PR Adviser
------------------------------- -------------------------
Website LinkedIn Twitter
www.aegplc.com www.linkedin.com/company/activeenergy https://twitter.com/aegplc
@aegplc
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About Active Energy Group
Headquartered in London with operations in the United States,
Active Energy Group plc (AIM: AEG, OTCQB:ATGVF) is a biomass-based
renewable energy company focused on the production and development
of next generation biomass products that have the potential to
transform coal fired power and heavy industries and the existing
renewable biomass industry.
Active Energy has developed a proprietary technology which
transforms waste biomass material into high-value renewable fuels.
Its patented product CoalSwitch(R) is a leading drop-in biomass
renewable fuel that can be blended and co-fired with coal at any
ratio without requiring significant plant modification or wholly
replacing existing biomass fuels. In 2022 Active Energy's partner,
Player Design Inc commenced the process for building a production
facility for Coalswitch(R) at PDI's facility at Ashland, Maine.
Under a "take or pay" arrangement Active Energy will purchase
CoalSwitch(R) from PDI for sale to the Company's prospective
customers in the US and Europe.
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