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Active Energy Group PLC (LON:AEG)

Active Energy Group PLC (LON:AEG)


Share Price
3.10 p
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0.1499 (5.08 %)
Market Cap
£32.02 m
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Active Energy Group PLC RNS Release

Opens Inaugural CoalSwitchT Plant in Utah


RNS Number : 5206E
Active Energy Group PLC
12 February 2018
 

Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy

12 February 2018

                                      Active Energy Group Plc ('Active Energy', 'AEG' or 'the 'Group')

Opens Inaugural CoalSwitch™ Plant in Utah

 

Active Energy, the international biomass based renewable energy and forestry management business, is delighted to announce that its first commercial CoalSwitch™ plant in Utah, United States (the 'Plant'), was officially opened on Friday 9 February 2018.  The event consisted of an introduction to Active Energy Group Plc, its Utah operations, management team and a demonstration of the reactors which can produce five tonnes per hour of finished CoalSwitch™ product.  This equates to an annual production of more than 40,000 tonnes of CoalSwitch™ product per year, depending on the type of raw material being used in the process.  Last Friday, the material used for the demonstration was supplied by Young Living Farms ('YLF') for the launch of a new product for soil enhancement in Utah.  YLF is looking to develop a new product, utilising the CoalSwitch™ process from existing waste materials from existing YLF processing plants.

 

Following the official opening of the Plant in Utah, members of the management team, including Richard Spinks, CEO and Phil Scalzo, Chief Technical Officer, gave a presentation to parties that had been invited to the opening of the Plant on 9 February 2018.  The presentation was recorded, and a video has been produced as part of the Company's Investor Relations initiative surrounding the opening of the Plant.  The video also includes interviews with potential customers.  The video has been uploaded to the Company's website and can be accessed from the following link: https://youtu.be/DaWDXvFnTNI

 

The first public demonstration of beneficiation of biomass using CoalSwitch™ Plant was initiated by Ken Clark, Business Development Specialist for PacifiCorp, the parent company of Rocky Mountain Power, with whom Active Energy has been working closely for two years on a coal/biomass (CoalSwitch™) co-firing project that is being supported by and conducted under the State of Utah's Legislated STEP Programme.  Active Energy is grateful to Ken for his agreement to start the Plant and the Group looks forward to working with him and his team in regard to forthcoming activities involving Rocky Mountain Power and PacifiCorp.

 

The event was also supported by representatives from the Office of Energy Development of the State of Utah including Dr. Laura Nelson, Executive Director of the Utah Governors' Office of Energy Development and Energy Advisor to the Governor of Utah.  Representatives from the forestry management industry, timber processing/sawmilling, coal mining/coal waste reclamation industries were also in attendance.

 

Prior to the event on 9 February 2018, a number of meetings took place with leading companies, including Rocky Mountain Power, keen to learn of the commercial and environmental benefits of CoalSwitch™.  Rocky Mountain Power is the owner and operator of the Hunter Unit 3 Plant in Utah where the co-firing project is scheduled to be conducted in 2018.  The co-firing project at Hunter Unit 3 will be the first time a full-scale coal-fired power station will use CoalSwitch's processed biomass product as a fuel source.  Active Energy is grateful to everyone at Rocky Mountain Power with whom it has had the pleasure of collaborating and is excited at the prospect of conducting a co-firing test and to working together in the future.

 

Active Energy Chief Executive, Richard Spinks, said, "I would like to thank Ken Clark for opening the Plant and to thank all those involved in bringing this flagship project to fruition including Governor Gary Herbert, the Governor of Utah, and Dr. Laura Nelson, Executive Director of the Office of Energy Development and Energy Advisor to the Governor, who have supported CoalSwitch™ since its  inception and without whom we could not have achieved all that we have.

 

"We have particularly enjoyed working with and the support of the many Utah business owners including Woodscape of Utah, Great Basin Industrial, Fast Track Welding, One Source Industrial and many people who have shown that engineering excellence and manufacturing know-how and skills are available at the highest level in the State of Utah.

 

"We are now focused on the next commercial milestones for Active Energy including the global roll-out of CoalSwitch™ fuel and CoalSwitch™ production Plants, which have the potential to change the power generation industry.  Our products unique properties and its ability to be a direct drop-in fuel to the power industry is a game-changer.  The new business opportunities in utilising the CoalSwitch™ process toward agricultural waste creating engineered soils adds a potential revenue opportunity for Active Energy.

 

"Most importantly from an environmental perspective, CoalSwitch's ability to use the waste, residuals and poor-quality lumber generated by timberlands and timber production companies throughout the world in an economical and sustainable way, creates a win-win for all parties."

 

Director of Utah Energy, Dr. Laura Nelson, said, "The opening of AEG's new CoalSwitch™ Plant once again demonstrates Utah's leadership as an exploratory frontier for advancing new and innovative energy solutions that will drive positive outcomes for our economy and environment.  The technology was developed and manufactured in Utah, and we're excited to see its rising global impact."

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

**ENDS**

 

Enquiries & Further Information:

 

Website

LinkedIn

 

www.active-energy.com

 

www.abs-plc.com

www.linkedin.com/company/activeenergy

 

 

 

Enquiries

Active Energy Group Plc

Michael Rowan

Non-Executive Chairman

[email protected]

 

 

Richard Spinks

Chief Executive Officer

[email protected]

 

Northland Capital Partners Limited

Nominated Adviser

 

David Hignell/Gerry Beaney

Office: +44 (0)20 3861 6625

Optiva Securities Ltd Broker

Graeme Dickson/Ed McDermott

Office: +44 (0)20 3137 1902

St Brides Partners

Financial PR Adviser

Isabel de Salis/Megan Dennison

[email protected]

Office: +44 (0) 20 7236 1177

 

 

 

 

About Active Energy Group:

Active Energy Group Plc (AIM: AEG.L) is a London Stock Exchange-listed international renewable energy business based upon forestry assets.  Its model is focussed on capturing the entire forestry value chain through sourcing, utilising and commercialising assets, and setting a new standard in the sustainable management and optimisation of timber resources.  The Company is led by a highly technical and commercial team with the experience to execute its defined growth strategy and build its visibility, primarily as a London-listed timber opportunity with a revolutionary biomass fuel technology.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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