Change of Registered Office

RNS Number : 6419G

Active Energy Group PLC

05 March 2015

 

5 March 2015

Active Energy Group Plc
("Active Energy Group" or the "Group" or the "Company" or "AEG")

Change of Registered Office Address

Active Energy Group Plc (AIM: AEG.L), the London Stock Exchange AIM-listed international supplier of industrial wood chip and timber, Biomass for Energy (BFE) fuel products, and forestry asset development services, announces that its registered office address has changed to:

Active Energy Group Plc

27-28 Eastcastle Street

London

W1W 8DH

United Kingdom

- ends -

Contact Information & Editor's Notes

Enquiries:

Active Energy Group Plc
Richard Spinks, Chief Executive Officer           [phone] (UA)              [e-mail]
                                                                                  [phone] (RoW)

Brian Evans-Jones, Finance Director                [phone]                   [e-mail]

6 Hillgrove Public Relations                            
Richard Hillgrove/John Price                              [phone]                   [e-mail]
                                                                                                                                           [e-mail]

WH Ireland Ltd. (Nominated Adviser and Broker)                                           
Chris Fielding/Mark Leonard                              [phone]

Active Energy Group:

·   Company Website: www.active-energy.com

·   Active Energy Group Plc, a London Stock Exchange AIM-listed company (AIM: AEG.L), is an international supplier of industrial wood chip and timber for MDF and OSB panel board manufacturing; Biomass for Energy (BFE) fuel products, including development of second generation fuel pellets and pelleting technologies; and global forestry asset development and management services.

·   The Group, headquartered in the United Kingdom, currently operates from four international locations:

o Ukraine, where it is the largest producer and exporter of wood chip for MDF manufacturing.

o Spain and Montenegro, from where it supplies BFE wood chip to European power plants.

o Canada, where it has entered into a landmark forestry joint venture - KAQUO Forestry & Natural Resources Development Corporation - with several indigenous Métis Settlements to commercialise in excess of 250,000 hectares of forestry/timberland assets.

·   The Group is led by a highly experienced and dedicated management team with a proven track record in the industries and regions in which it operates and from which its revenues are generated.

·   Ukraine and Canada, with their large forestry reserves and comprehensive road, rail and sea transport links, are ideal locations from which to source raw timber and manufacture wood chip and fuel pellets for supply to Biomass power plants and MDF/OSB producers.

Turkish MDF Market:

·   Turkey is the leading manufacturer of MDF in Europe, producing over 6 million m³ of high-quality boards and finished products per annum.  AEG maintains close relationships with all the major Turkish MDF producers, and works with them to develop its production capacity and product range.

·   Until recently, approximately 69% of US, Canadian and Latin American industrial wood chip exports were destined for Turkey; all of it for production of wood-based panels, primarily MDF.

·   AEG has successfully developed the first viable alternative to these traditional supply sources; delivering high-quality wood chip in approximately one-tenth of the transatlantic shipping time.

·   As well as providing fresher and superior wood chip to its clients, AEG's Black Sea production and shipping facilities provide them with significant cost-savings and cash flow advantages.

European Biomass for Energy (BFE) Market:

·   Biomass-generated power is expected to account for over 50% of European renewable energy, according to an EU directive on National Renewable Energy Action Plans.

·   EU directives and continued commissioning of new Biomass and CHP power plants across Europe continue to generate additional demand for Biomass fuel.

·   The European Renewable Energy Council (EREC) estimates that Biomass-based energy production will grow from 43TWh (Terawatt Hours) in 2005 to 250TWh in 2020.

 

END

 

 

CROBGGDXBDGBGUU