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Active Energy Group PLC

Test Reactors arrive at Lumberton in the U.S.

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RNS Number : 7131B
Active Energy Group PLC
10 June 2019
 

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

10 June 2019

Active Energy Group Plc

('Active Energy', 'AEG' or the 'Company')

Reactors Successfully Delivered to Lumberton Site in the U.S.

 

Active Energy, the London quoted renewable energy and forestry management company focussed on biomass, is pleased to announce that following the Company's announcement of 4 June 2019, its reactors have been successfully delivered to its industrial site in Lumberton, Robeson County, North Carolina ('Lumberton' or 'the Project'). 

 

Lumberton is being developed to be the Company's first permanent production facility for CoalSwitch™, its proprietary technology that transforms low-cost biomass material into high-value green fuels, and to serve as the primary base for all its biomass fuel operations in the U.S. 

 

The Company is now making rapid progress advancing construction of its new CoalSwitch™ operation at Lumberton, with construction of the 5 tonne per hour plant to commence and engineering crews arriving within the month.

 

To view the announcement with illustrative images, please use the following link: 

http://www.rns-pdf.londonstockexchange.com/rns/7131B_1-2019-6-10.pdf

 

Figure 1: Test Reactors Arriving at Lumberton Site

Figure 2: Test Reactors being offloaded at Lumberton Site

Figure 3: Test Reactors being staged for installation   

 

 

Further Details

Lumberton is strategically located close to AEG's joint venture partner Georgia Renewable Power LLC ("GRP") and is also in the heart of the lumber production region in North America. The fully permitted facility includes up to 415,000 sq ft of covered factory space, circa 151 acres of surrounding land, as well as ancillary facilities, such as water treatment, an analysis lab, offices and IT hardware.  Lumberton is also located close to the Eastern Seaboard of the United States, which the Directors believe will be advantageous for the Company as it seeks to generate regular sales of its products to Western Europe and South East Asia.

 

The Directors believe that the size of Lumberton will ensure significant scope for the expansion of the initial CoalSwitch™ plant via the addition of extra CoalSwitch™ production facilities targeting capacity of up to 500,000 tonnes per annum during 2021. Furthermore, the Directors expect that AEG will benefit from complementary biomass, saw logging and other commercial revenue opportunities in the Lumberton area.

 

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

 

**ENDS**

 

Enquiries & Further Information:

 

Website

LinkedIn

 

www.aegplc.com

www.linkedin.com/company/activeenergy

 

 

 

Enquiries

Active Energy Group Plc

Michael Rowan

Chief Executive Officer (Active Energy)

Antonio Esposito

Chief Operations Officer (Active Energy)

C/O SBP

+44 (0) 20 7236 1177

SP Angel Corporate Finance LLP

Nominated Adviser and Broker

 

David Hignell / Lindsay Mair / Jamie Spotswood

Office: +44 (0)20 3470 0470

St Brides Partners

Financial PR Adviser

Melissa Hancock / Gaby Jenner

[email protected]

Office: +44 (0) 20 7236 1177

 

About Active Energy Group:

Active Energy Group plc is a London listed (AIM: AEG) renewable energy company that has developed a proprietary technology which transforms low-cost biomass material into high-value green fuels.  Its patented product CoalSwitch™ is a drop-in biomass fuel that can be mixed at any ratio with coal or completely replace coal in existing coal-fired power stations without requiring plant modification.

 

Active Energy Group's immediate strategic focus is the production and commercialisation of CoalSwitch™ and other biomass where a low emission biomass-based fuel can be created as a blend with CoalSwitch™. 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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