Active Energy Group PLC (AIM:AEG, OTCQB:ATGVF), the AIM-listed renewable energy and digital infrastructure company, has said its first facility in the United Arab Emirates will be handed over a little later than planned after permitting delays, the Ramadan period and regional disruption caused by the recent Middle East crisis pushed back its commissioning schedule.
The company said infrastructure handover at its 8-megawatt energy and digital infrastructure site, its first in the Gulf Cooperation Council region, is now expected by the end of April 2026.
The company said the delays had not affected the underlying development progress or the strategic importance of the project.
Once fully operational, the site is projected to generate approximately $3.5 million in annual revenues at an estimated gross margin of around 50%, equating to roughly $1.75 million in annual gross profit.
Paul Elliott, chief executive of Active Energy, said the April handover marked an important step in the company's international infrastructure strategy and that discussions around additional UAE locations were continuing.
Active Energy said it is also evaluating additional locations in the UAE as part of a broader strategy to build a portfolio of energy-connected sites capable of supporting institutional hosting partners and high-performance computing applications.
In a separate announcement, the company said James Voce has resigned from its board with immediate effect to pursue other business interests.
Following his departure, the board comprises only the chief executive officer and the non-executive chairman, and the company said it has begun a process to appoint an additional non-executive director.
Active Energy also announced it will issue 77.56 million shares at 0.0928 pence each, reflecting the trailing 10-day average volume-weighted average price (VWAP) at close on 5 March 2026, to settle fees owed to advisers and service providers.