ACTIVE ENERGY GROUP (LON:AEG)
SECTOR – RENEWABLE ENERGY
RATING – CORP*
MARKET CAP – £22.3m
CURRENT PRICE – 2.7p#
ANALYST – MIKE JEREMY
Year-end Dec 2015 2016
Revenue (US$m) 24.38 19.20 No forecasts provided
EBITDA (adj) (US$m) (1.63) 1.27
Adj. pre-tax Profit (US$m) (3.39) (0.95)
Adj. EPS (US$c) (0.65) (0.16)
DPS ($c) - -
Net Cash/(Debt) (US$m) (6.79) (5.52)
P/E (x) - -
Dividend yield (%) - -
EV/EBITDA (x) - 30.2
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited Acts as Nomad and Broker to Active Energy Group and therefore this information should be viewed as a Marketing Communication.
£1.75m raised to accelerate rollout of CoalSwitch ™
NORTHLAND VIEW
Active Energy has announced an oversubscribed placing of £1.75m (gross) through the issue of 83,333,334 shares at 2.1p in order to accelerate the commercial roll out of its CoalSwitch™ biomass fuel solution, and for working capital. Following admission, AEG will have 908.125m shares in issue with an additional 33.213m held as Treasury shares.
AEG reports that its affiliate Advanced Biomass Solutions continues to make progress towards commercialisation of CoalSwitch™ following the agreement with Lumino Capital LLC for financing, development and operation of CoalSwitch™ plants across South East Asia - as detailed on 21st September.
AEG also reports that Timberlands International is awaiting feedback from the Ministry of Fisheries and Land Resources of the Crown Province of Newfoundland and Labrador following the submission of final documents relating to its application for a Crown Timber Licence and Forestry Management Agreements - as announced on 12th October.
October 30th saw press headlines that the concentration of atmospheric CO2 in 2016 reached record levels; for example in the US coal used in power generation is by far the largest single source of CO2 emission (29% of total). This is the type of data which will concentrate attention on developments such as AEG’s CoalSwitch™, its proprietary biomass replacement for the use of coal in power generation. As AEG reports it now has additional funds to accelerate towards commercial deployment of this solution.