Active Energy Group PLC (AIM:AEG, OTCQB:ATGVF) saw its shares more than double in price following a settlement deal with Player Design Inc, resulting in a $1.65 million cash payment to AEG.
It recoups funds earmarked for the development of the Ashland Facility and includes the transfer of some non-essential production equipment.
Crucially, the agreement ensures AEG retains full ownership of its original patents and intellectual property, bolstering its stance in the renewable energy sector. The company's pioneering product, CoalSwitch, offers a revolutionary renewable fuel solution for coal-fired power and heavy industries, thanks to its unique properties.
With plans to refine CoalSwitch production and explore new markets in partnership with Omega Thermal Solutions Group, Active Energy is poised for further growth and innovation in renewable energy solutions.
In London, Active Energy traded up 0.36p or 112% to change hands at 0.69p.