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Active Energy aims for timber licence in Newfoundland

"This marks the next milestone for the development of commercial activities for TIL in Newfoundland," said Michael Rowan.
Sawn timber
The firm has submitted documents for a Crown Timber Licence and Forestry Management Agreements

Active Energy Group PLC (LON:AEG), now focused on forestry management and biomass fuel products, has marked the next milestone in its forestry aims in Newfoundland.

It has submitted all final documents to the Ministry of Fisheries and Land Resources through its affiliate, Timberlands International Limited (TIL), for a Crown Timber Licence and Forestry Management Agreements on the Forestry Management Districts 17 and 18.

READ: Active Energy bullish on its forestry and biomass future but losses widen

"This marks the next milestone for the development of commercial activities for TIL in Newfoundland," said Michael Rowan, Active Energy's non-executive chairman.

"TIL and Active Energy are extremely excited about the prospect of revitalising the forestry activities on the Northern Peninsular, facilitating new investment into the Province and continuing to grow positive working relationships between the Province, its relevant ministries and TIL for the benefit of all.

READ: Active Energy and renewables group Lumino to build CoalSwitch biomass plants in Asia

"I look forward to providing shareholders with further updates regarding the applications for the CTL and the FMAs in due course."

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