Active Energy 'one step closer' to commercialising CoalSwitch, claims Northland
Active has landed the financing for its first CoalSwitch plant which will produce around 35,000 tonnes per annum of the biomass
Company
LON:AEG
Active Energy Group PLC is advancing a diversified portfolio of renewable energy solutions, including solar, wind, and battery storage, to meet the growing global demand for clean, sustainable power. The company is committed to accelerating the energy transition by integrating innovative technologies and resilient financial strategies, including a cryptocurrency treasury comprising assets like Bitcoin and Ethereum. At the core of its growth strategy is its internationally IP-protected technology, CoalSwitch®—a revolutionary biomass-based, drop-in replacement for coal. With this proprietary clean fuel, Active Energy aims to lead the shift away from fossil fuels, leveraging CoalSwitch to scale its impact and drive the next phase of sustainable energy innovation.
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Active has landed the financing for its first CoalSwitch plant which will produce around 35,000 tonnes per annum of the biomass
“This is a landmark moment for AEG,” said chief executive Richard Spinks.
The company first announced plans to issue shares to its major investor and its CoalSwitch joint venture partners at the end of October
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AEG CoalSwitch had been developing an environmentally-friendly process that cleanses raw biomass
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The memorandum of understanding covers around 186,500 hectares of mature trees in northern Ukraine.