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Active Energy's finance director switches roles to focus on rollout of CoalSwitch

The construction of the first five-tonne per hour CoalSwtich biomass plant is nearing completion
Coal
CoalSwitch is a type of fuel made from waste wood

Active Energy Group PLC (LON:AEG) said Brian Evans-Jones will step down as finance director to focus on his role as managing director of the company’s Advanced Biomass Solutions (ABS) unit.

ABS is focused on the international commercial roll out of CoalSwitch biomass fuel.

CoalSwitch recently received a major leg-up through a deal with California-based renewable energy group Lumino Capital to build eight plants across Asia.

ABS is constructing and running the plants while Lumino is sourcing the biomass feedstock as well as providing finance.

Since the construction of the first five-tonne per hour CoalSwtich plant is nearing completion, Active Energy felt it was the right time to re-assign responsibilities.

"Due to the significant recent developments with ABS and our revolutionary CoalSwitch biomass fuel, we needed a dedicated Managing Director to interface with potential clients, manage existing commercial and government relationships and to execute new opportunities to build value,” said chairman Michael Rowan.

“Brian's in-depth knowledge of the ABS business made him the obvious choice to fill that role. The timing is particularly astute as we are close to commencing production at our first commercial CoalSwitch plant in Utah, USA, to generate revenue and allow us to produce large scale quantities for testing and utilisation internationally.”

The company has started the search for a new finance director and has appointed an interim replacement in the meantime.

Optiva, which supported the group’s £1.75mln fundraise last month, will now act as its sole broker. 

The CoalSwitch product is made from waste wood that would normally be left to decompose following forestry operations.

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Active Energy Group PLC Timeline

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September 21 2017

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