Proactive Investors - Run By Investors For Investors

Active Energy to beef-up board after Evans-Jones opts to focus on the Advanced Biomass Solutions business

The board looks forward to supporting Evans-Jones and his team as they focus exclusively on the commercialisation of CoalSwitch biomass fuel in South East Asia, which it sees as a key market
biomass pellets
Major oil palm producers are now evaluating CoalSwitch as the biomass fuel of choice

Brian Evans-Jones has quit the Active Energy Group PLC (LON:AEG) board to focus exclusively on his role as managing director of Advanced Biomass Solutions (ABS).

AEG said Evans-Jones’s decision was prompted by the increasing commercial interest in CoalSwitch from the south-east Asia region. The ABS business unit will continue to develop AEG's network of commercial partners in the forestry and plantation sectors in the Asia region as the group assesses new markets for CoalSwitch.

READ: Active Energy set for commercial scale launch of CoalSwitch biomass fuel

"ABS has made progress building relationships with potential financial partners to fund the CoalSwitch plant roll-out programme,” said Michael Rowan, the non-executive chairman of AEG. 

“Major oil palm producers are now evaluating CoalSwitch as the biomass fuel of choice, due to it being the only technology available that can process the industry's waste, which contains high amounts of potassium.  Furthermore, coal-fired power plants throughout the region are increasingly being required to change to biomass. We believe this creates a significant opportunity for the Group as CoalSwitch is the only technology capable of producing biomass pellets to be co-fired with coal at those levels," he added.

READ: Active Energy welcomes support from Governor of Utah for CoalSwitch

For the time being, AEG will only have two directors on the board but it is on the hunt for a new finance director and intends at some point in the near future to appoint a new independent non-executive director.

Shares in AEG were up 2.2% in a market that was down 2.2% following the news.

View full AEG profile View Profile

Active Energy Group PLC Timeline

Related Articles

oil and gas operations
July 24 2018
Prospect S offshore Namibia is Chariot's next shot at a big target, drilling is slated for the fourth quarter this year and it will be closely watched by investors
oil well
August 22 2018
Production in the six months to June rose 64% following a workover campaign on the three producing wells
New prospect areas near the Dorado-1 oil discovery
October 15 2018
Three additional prospects are estimated to contain significant quantities of oil, gas and condensate.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use