Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Active Energy shares jump as joint venture secures Polish government clearance for ‘SuperFuel’ product

The AIM-listed alternative energy group said testing by the Polish government laboratory showed that the new fuel met requirements under new AntiSmog legislation
OK hand sign with Polish flag painted on
The joint venture is now permitted to use the Polish government’s ‘Ecological Safety Sign’

Active Energy Group PLC (LON:AEG) shares jumped on Wednesday as its joint venture (JV) company, AEG CEE Sp. z O.O., received market certification and environmental clearance by the Polish government for its ‘SuperFuel’ product.

The AIM-listed alternative energy group said testing by the Polish government laboratory showed that the new fuel met requirements under new AntiSmog legislation for the certification of solid fuels, and thus allowed its use both domestically and in Polish/EU coal plants due to its high calorific value, low sulphur content, low ash content, and low SOx and NOx emissions.

Watch: Polish approval for 'SuperFuel' product a 'shot in the arm' for Active Energy

Active added that the joint venture was now permitted to use the Polish government’s ‘Ecological Safety Sign’ on all of its production, with the intention to move to production and revenue generation now that the certification had been achieved.

The JV is also in the final stages of price negotiation with customers in the Slask Region of Poland and was confident of a strong economic and environmental outcome.

Richard Spinks, Active Energy chief executive, said: “This certification programme, although expected to reach approval at the time of incorporating the Joint Venture, progressed much faster than anticipated and subsequently, now that we have received all necessary certification and commercial trade marks for the commercialisation of this new 'Super Fuel', we hope to generate cash flow more quickly in Poland than originally anticipated.

He added: “Our unique Active Energy/Cobant "SUPERFUEL" has been approved by the Polish Government Laboratory as a solution that not only meets all of their requirements under the "Anti-Smog" legislation, but is safe enough not only to use in Power Plants, but right there in the homes of Polish Citizens who until today face health and environmental issues, which we will now help to improve into the future.”

In mid-morning trading, Active Energy shares were up 17.9% at 3.95p.

In a note to clients, analysts at 'house' broker Northland Capital said: "This validation for AEG is particularly applicable in Poland which has a 90% reliance on coal and lignite in energy generation and opens up significant commercial opportunities."

 -- Adds analyst comment, updates share price --

View full AEG profile View Profile

Active Energy Group PLC Timeline

Related Articles

oil well
August 22 2018
Production in the six months to June rose 64% following a workover campaign on the three producing wells
oil and gas operations
July 09 2018
Greka highlighted improved revenues which boosted gross profit despite the challenges experienced in India and China through 2017.
oil and gas operations
September 20 2018
Spirit Energy, majority-owned by British Gas parent Centrica, is to fund a programme of new wells and cover Hurricane's costs for initial field development work for the Greater Warwick Area

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© 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