Active Energy Group PLC (AIM:AEG, OTCID:AEUSF) told investors that its digital infrastructure push in the UAE has moved a step forward after its subsidiary signed an agreement aimed at supporting licensing, power access and site development for crypto mining operations.
The AIM-listed company said Active Mining Group has entered into a services and facilitation agreement with the Private Office of HH Sheikh Mohammed bin Ahmed bin Hamdan bin Mohammed Al Nahyan, with Black Road Investment Group and affiliated companies acting as liaison partner.
The agreement supports the addition of a dedicated Abu Dhabi cryptocurrency mining licence, adding to Active Mining Group’s existing licences across the UAE.
It is also structured to help develop and aggregate an initial 50 MVA of capacity across multiple sites in the country, including sites owned or controlled by Black Road and its affiliates.
Active Energy said the framework will support engagement with federal and emirate-level authorities, utilities and infrastructure providers, alongside work to secure ultra-low-cost power capacity, land access and required approvals.
Chief executive Paul Elliott said the agreement strengthens the company’s ability to access and secure infrastructure at scale, adding that it provides “a clear pathway” toward Active Energy’s targeted 100 MVA deployment.
In London, Active Energy shares climbed 12.15%, changing hands at 0.12p each.