Active Energy Group PLC (AIM:AEG, OTCQB:ATGVF) has had to scale back investor interest in a heavily oversubscribed share placing, as it revealed plans to join the growing cohort of London-listed companies exploring Bitcoin and other digital assets as part of their treasury strategy.
The biomass-based renewable energy group said it had raised £346,180 in gross proceeds through an accelerated bookbuild led by Zeus Capital.
The placing was priced at 0.1 pence per share, a steep 66.6% discount to the closing price before the announcement, after strong demand from institutional and other investors.
While Active Energy confirmed that previous market speculation around Bitcoin plans was unfounded at the time, it now intends to allocate a portion of its proprietary reserves into digital assets, including Bitcoin, as part of a broader move to enhance financial resilience.
In a statement, the board said it is “evaluating a range of treasury management options” and that, subject to ongoing assessments, up to 30% of its liquidity could be held in digital assets.
The company described the strategy as a hedge against inflation and currency fluctuations in key operational markets.
Active Energy stressed that its crypto exposure would be limited, ring-fenced, and periodically reviewed.
It also said it would continue to prioritise funding for its operating business, which focuses on next-generation biomass technologies. No third-party capital will be pooled, and the company does not intend to operate as an investment vehicle.
The company is considering hiring a specialist adviser to support the development of its digital asset treasury framework.
The shares fell 29% to 0.25p, but were still well above their notional ex-rights price.