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Active Energy Group (AEG)

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Monday 20 January, 2020

Active Energy Group

Board Appointments

RNS Number : 2307A
Active Energy Group PLC
20 January 2020

Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy


20 January 2020

Active Energy Group Plc

('Active Energy', 'AEG' or the 'Company')

Board Appointments


Active Energy Group Plc, the London quoted international biomass based renewable energy business, is pleased to announce the appointments of Max Aitken and Jason Zimmermann as independent Non-Executive Directors.


Commenting on the board appointments, Michael Rowan CEO of AEG, said, "As we approach the commercialisation phase of our growth strategy at our Lumberton facility, we are delighted to welcome such highly experienced board members. Max's experience in the UK biomass sector in the last 10 years will help AEG accelerate its future biomass expansion plans and Jason's acknowledged expertise of timberland assets globally will further complement AEG's growth strategy. We look forward to benefiting from their contributions during this exciting period for the Company."

Max Aitken is an entrepreneur who has founded and been instrumental in the financing of several businesses in energy, IT, and media. He is currently the CEO of Estover Energy Ltd.  Over the last 10 years Estover Energy has established itself as a leader in the UK biomass industry developing 3 wood-fuelled biomass CHP plants producing up to 70 MW in the UK, financed with £375m of capital. He is also a trustee of the Beaverbrook Foundation London, and President of the Beaverbrook Canadian Foundation in Montreal. He is also a Non-Executive Director for 42 M&P, a fully integrated management and production company in the TV and film industry, based in London and Los Angeles.


Max Aitken, said "I am delighted to be joining the Board of AEG at this time. I have observed the progress that AEG has made in recent months and I believe that AEG is now well positioned to start delivering its new renewable fuels to the established biomass markets in the US, UK and Europe.


Jason Zimmermann has over 20 years' experience in the timber resource sector.  He is currently the President of Zimmfor Management Services Ltd ("Zimmfor"), an industry leading consulting firm focused on sustainable forestry management.  Jason has field and technical expertise relating to timberland assets worldwide and Zimmfor has worked with AEG in previous projects in Canada and Ukraine. He is a Registered Professional Forester and a graduate of the University of British Columbia with a Bachelor of Science in Forestry.


Jason Zimmermann, said "Having previously worked with AEG and its timberland assets, I am  fully aware of AEG's prospects and am excited to be joining the Company's board at this time. We are focused on accelerating the development of the Company's existing operations and acquiring additional, sustainable forestry assets to complement AEG's biomass and lumber operations ."


The following additional information is provided in accordance with paragraph (g) of Schedule Two to the AIM Rules for Companies:


Jason Leonard Zimmermann (age 44) holds or has held the following directorships/partnerships in the five years:


Current Directorships & Partnerships


Previous Directorships & Partnerships (held within the last 5 years)


Zimmfor Management Services Ltd

Zimmfor Consulting Ltd

GreenRaise Consulting GmbH

Sweet-Zees Holding Company Ltd

City of Campbell River Airport Commission

Horne Lake Strata Council


Maxwell Francis Aitken, also known as Hon Max Aitken, (age 42) holds or has held the following directorships/partnerships in the five years:


Current Directorships & Partnerships


Previous Directorships & Partnerships (held within the last 5 years)


Estover Energy Ltd

Estover Cramlington LHP Ltd

Estover Vescor Holdco Ltd

Speyside Renewable Energy Partnership Ltd

Speyside Renewable Energy Partnership Holdco Ltd

Speyside Renewable Energy Finance plc

Cramlington Renewable Energy Developments Holdco Ltd

Cramlington Renewable Energy Developments Ltd

Cherif Capital Ltd

Cherif Barnes Developments Ltd

Cherif (Barnes) Ltd

INJ London Ltd

Acclaria UK Ltd

42 M&P Ltd

3Ti Energy Hubs

Cramlington Wood Energy Partnership

Vescor Group Limited

Beaverbrook Foundation

Beaverbrook Canadian Foundation


Cherif Holdings Ltd

Cherif Capital Finance Ltd

Cherif Investment Properties Ltd

Cherif Hampton Row Holdco Ltd

Kent Renewable Energy Ltd

Inesiene London Ltd

Speyside Renewable Energy Funding plc




Max is currently a director of Cherif (Barnes) Ltd which had an administrator appointed on 30 April 2018.

Max was a director of Sports Betting Media Limited within a year of the company going into administration in July 2006.

Max was a director of Ro Realisations Limited when the company went into administration. An administrator was appointed in April 2005 and the Company Voluntary Arrangement was completed in April 2008.


There is no other information that is required to be disclosed pursuant to paragraph (g) of Schedule Two to the AIM Rules for Companies.


This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.




Enquiries & Further Information:







Active Energy Group Plc

Michael Rowan

Chief Executive Officer (Active Energy)

Antonio Esposito

Chief Operations Officer (Active Energy)


SP Angel Corporate Finance LLP

Nominated Adviser and Broker


David Hignell / Caroline Rowe

Office: +44 (0)20 3470 0470

St Brides Partners

Financial PR Adviser

Isabel de Salis / Priit Piip

[email protected]

Office: +44 (0) 20 7236 1177


About Active Energy Group:

Active Energy Group plc is a London listed (AIM: AEG) renewable energy company that has developed a proprietary technology, which transforms low-cost and waste biomass material into high-value green fuels.  Its patented product CoalSwitch™ is one of the world's leading drop-in biomass fuels that can be mixed at any ratio with coal or other waste products. The Company's immediate strategic focus is the production and commercialisation of CoalSwitch™, through either the development of proprietary facilities such as Lumberton, North Carolina or through licensing with strategic partners.





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