Active Energy Group PLC (AIM:AEG, OTCQB:ATGVF) has confirmed it is in discussions with a "number of parties" regarding the potential sale of its CoalSwitch technology that allows lumber waste to be burned cleanly and effectively for power.
"To date, discussions have resulted in a number of proposals being received by Active Energy and these are being considered by the board," investors were told.
In the update, AEG also said it was looking at ways to preserve cash and other potential disposals.
It is currently sitting on cash of $500,000 and a 4.1% shareholding in Alpha Prospects, which has a book value of $852,000 (£680,000).
AEG also warned that if it didn't receive an acceptable offer for its CoalSwitch asset in the near term it may have no option to consider a members' voluntary liquidation.
"Should this happen, it is not known at this stage what, if anything, would be returned to shareholders in an orderly winding up of the company," it added.