TIDMAEG
Active Energy Group PLC
13 October 2015
13 October 2015
Active Energy Group Plc
("Active Energy Group" or the "Group" or the "Company" or
"AEG")
New High-Volume Hardwood Production Line
Operational at AEG WoodFibre Division
Active Energy Group Plc (AIM: AEG.L), the London Stock Exchange
AIM-quoted international supplier of industrial wood fibre,
timberland and natural resources development services, and
sustainable Biomass for Energy (BFE) coal replacement fuel
solutions and systems, announces that it has finalised installation
and testing of a new high-volume hardwood production line at its
AEG WoodFibre Yuzhny Port processing facility, and that it is now
fully operational.
The Group's AEG WoodFibre division reported revenues of
US$17.395 million in 2014, an increase of 995% over the US$1.588
million it achieved the previous year. The new handling and
processing equipment is part of a large-scale investment programme
to facilitate a four-fold increase in its production capacity to
enable it to meet the rising demand for wood fibre from its Turkish
MDF manufacturing customer base.
Turkey is Europe's leading supplier of MDF, currently producing
over 5 million metric tonnes of MDF per annum, with a value of over
$2.5 billion; a figure that is forecast to grow 8% year-on-year to
over $3 billion by 2017. AEG WoodFibre, which is now the largest
exporter of processed wood from Ukraine, has established an
excellent reputation for quality and reliability within this
important market, and the Board believes that it has considerable
growth potential.
As previously announced, the expanded hardwood wood chip
facility is scheduled to be joined by a new softwood wood chip
production line in Q1:2016, which will enable AEG WoodFibre to
further expand its product range and enter a new market sector.
Richard Spinks, CEO of Active Energy Group, commented: "I am
delighted to report that following a lengthy installation and
testing process, the new hardwood handing and processing facility
at Yuzhny Port is now fully operational, and I congratulate the AEG
WoodFibre team on their achievement."
"The new equipment will enable us to build on the long-standing
commercial relationships that we have developed with our existing
customers, and should introduce further opportunities within the
Turkish MDF manufacturing sector. The Board and I remain very
confident in this area of AEG's business, and we look forward to
updating our shareholders on the increased 2016 hardwood and
softwood off-take contracts that we are currently negotiating."
- ENDS -
NOTES TO EDITORS & CONTACT INFORMATION
ABOUT ACTIVE ENERGY GROUP PLC:
Active Energy Group Plc is a London Stock Exchange AIM-quoted
company (AIM: AEG.L). Headquartered in the UK, it is a
fast-expanding international business that has experienced
exceptionally strong growth and diversification into complementary
industry sectors since the current management team assumed
responsibility in mid-2012.
The Group has considerable expertise across the entire timber
industry supply chain - from forest to factory and fuel.
Its three specialist business divisions, which reflect its
knowledge and experience and which work together to maximise
commercial opportunities, are focussed on providing products and
services to specific global market sectors:
-- AEG Timberlands: Forestry Asset Development and Management
-- AEG WoodFibre: Processed Wood Fibre for Medium-Density Fibreboard (MDF) Manufacturing
-- AEG CoalSwitch: Advanced Biomass for Energy (BFE) Coal
Replacement Fuel Solutions and Processing Systems
Active Energy Group Plc operates from four international
locations:
-- Ukraine, where it is the largest producer and exporter of
wood fibre for the Turkish MDF manufacturing sector.
-- Canada, where it has entered into a landmark joint venture -
KAQUO Forestry & Natural Resources Development Corporation -
with several indigenous Métis Settlements to commercialise in
excess of 250,000 hectares of their lands, which contain valuable
forests and natural resources, including oil and gas reserves.
-- The United Kingdom and United States of America, where it
develops advanced Biomass for Energy fuels and fuel processing
systems that convert waste wood and industrial/agricultural
residues into coal replacement feedstock for clean energy power
generation in a joint venture - AEG CoalSwitch Limited - with
Biomass Energy Enhancements LLC.
Ukraine and Canada, with their large forestry reserves and
comprehensive road, rail and sea transport links, are ideal
locations from which to source raw Biomass material for conversion
into wood fibre for MDF manufacturing and enhanced sustainable
fuels for electricity generating power plants.
A highly experienced and dedicated management team leads Active
Energy Group Plc, each of whom possesses a proven track record in
the industries and regions in which it operates and from which its
revenues are generated.
The Company has grown significantly in recent years, and has
established a firm foundation, excellent reputation and
international customer base upon which to build for the future.
WEBSITE: LINKEDIN: TWITTER:
www.active-energy.com www.linkedin.com/company/activeenergy www.twitter.com/aegplc
(@aegplc)
ENQUIRIES:
Active Energy Group Plc
+39 344 111
Richard Spinks richard.spinks@active-energy.com Intl.: 6071
Chief Executive +380 503
Officer Ukraine: 942 702
+972 (0)54
Mark Broomer mark.broomer@active-energy.com Intl.: 575 3091
+44 (0)7703
Corporate Communications UK: 18 88 18
WH Ireland Ltd. (Nominated Adviser and Broker)
Chris Fielding/Mark +44 (0)20
Leonard Office: 7220 1666
This information is provided by RNS
The company news service from the London Stock Exchange
END
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