Active Energy Group PLC (AIM:AEG, OTCQB:ATGVF) has completed a strategic review of its CoalSwitch technology and confirmed a strengthened collaboration with Indigenous Canadian Energy (ICE).
The review was carried out under the company’s new management team and assessed both the technical and commercial pathways for advancing CoalSwitch.
The company said the review concluded that partnering with ICE provides the most effective route to commercialisation. ICE has experience in steam-enhanced biofuel pellet technology and has developed operational expertise in this area, which Active Energy identified as a key factor in its assessment.
Paul Elliott, executive director of Active Energy Group, said: “Our strategic review confirmed that CoalSwitch is best advanced alongside experienced partners with an established track record in SEBP technologies.”
He added: “ICE has demonstrated a high level of technical capability and their alignment with our commercial objectives provides a strong platform for CoalSwitch to progress toward market deployment.”
Active Energy and ICE have agreed to advance development of an industrial-scale ICE/CoalSwitch validation plant to demonstrate the technology, validate feedstocks and provide samples for off-takers and financiers