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Active Energy Group (AEG)

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Wednesday 24 April, 2019

Active Energy Group

CoalSwitch(TM) Test Reactors arrive at Lumberton

RNS Number : 9810W
Active Energy Group PLC
24 April 2019
 

 

 

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

24 April 2019

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

CoalSwitch™ Test Reactors arrive at Lumberton and Installation Commences

 

Active Energy, the London quoted renewable energy business focussed on biomass, is pleased to announce that the test reactors to produce its proprietary CoalSwitch™ product have now arrived at its recently acquired commercial plant in Lumberton, Robeson County, North Carolina (the 'Project' or the 'Lumberton Site') and installation has commenced. 

 

To view this announcement with illustrative images please use the following link: 

http://www.rns-pdf.londonstockexchange.com/rns/9810W_1-2019-4-24.pdf

 

The Lumberton Site will serve as Active Energy's first permanent commercial production facility and the primary base for all of the Company's United States CoalSwitch™ operations.  The transfer of all the equipment from the Company's Utah site is targeted to be completed within 8 weeks, with closure of the Utah site expected by the end of May 2019.

 

The Lumberton Site includes up to 415,000 sq. ft of covered factory space and circa 151 acres of surrounding land.  It is strategically located adjacent to AEG's joint venture partner Georgia Renewable Power LLC ("GRP") and in prime lumber districts from which AEG will secure feedstock for its revolutionary CoalSwitch™ product.  Importantly the Lumberton site includes all requisite ancillary facilities for the production of CoalSwitch™, including all relevant power supplies, permits, water treatment facilities, a research and analysis lab as well as offices.  

 

CoalSwitch™, a biomass-based fuel that utilises low-value forestry and agricultural residues and other feedstocks, is a drop-in biomass fuel that can be mixed at any ratio with coal or completely replace coal in existing coal-fired power stations without requiring plant modifications.   The technology being utilised to produce CoalSwitch™ is also being utilised to create additional renewable fuels including blending it with animal waste such as hog manure, which further increases the Company's renewable energy credentials.

 

Figure 1: Disassembly of the plant at Utah ahead of transportation to the Lumberton Site

Figure 2: Disassembly of the plant at Utah ahead of transportation to the Lumberton Site

Figure 3: Equipment arriving and being unloaded at the Lumberton Site

 

Michael Rowan, CEO of AEG, said, "The arrival and installation of the test reactors at the Lumberton Site marks the latest exciting step on the path to delivering our first commercial CoalSwitch™ product to market, which is our primary focus.  The Project is ideally located in the heart of the lumber production region in North America and we are confident that its size will enable the expansion of the initial CoalSwitch™ plant via the construction of additional CoalSwitch™ production facilities, as the Company targets capacity of up to 400,000 tonnes per annum over the next 2 years.

 

"The scale of the Project, its existing components and the infrastructure will allow us to continue to develop additional renewable fuels based on blending the original CoalSwitch™ technology with animal and agricultural waste.  We believe this will be attractive to potential partners who want to improve their environmental credentials."

 

The Company's Directors look forward to providing further updates regarding developments at the Lumberton Site and the installation of the initial CoalSwitch™ plant as soon as practicable.

 

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

 

**ENDS**

 

Enquiries & Further Information:

 

Website

LinkedIn

 

www.aegplc.com

www.linkedin.com/company/activeenergy

 

 

 

Enquiries

Active Energy Group Plc

Michael Rowan

Chief Executive Officer (Active Energy)

Antonio Esposito

Chief Operations Officer (Active Energy)

CO SBP +44 (0) 20 7236 1177

SP Angel Corporate Finance LLP

Nominated Adviser and Joint Broker

 

David Hignell / Lindsay Mair / Jamie Spotswood

Office: +44 (0)20 3470 0470

Optiva Securities Ltd Joint Broker

Jeremy King

Office: +44 (0)20 3137 1902

St Brides Partners

Financial PR Adviser

Melissa Hancock / Gaby Jenner

[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 biomass material into high-value green fuels.  Its patented product CoalSwitch™ is the world's only drop-in biomass fuel that can be mixed at any ratio with coal or completely replace coal in existing coal-fired power stations without requiring plant modification.

 

Active Energy Group's immediate strategic focus is the production and commercialisation of CoalSwitch™ and SuperFuel™, a low emission CoalSwitch™ blend that utilises waste coal fines. 

 

 

 


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