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Active Energy Group (AEG)

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Wednesday 27 March, 2019

Active Energy Group

Completion of Lumberton Acquisition

RNS Number : 0897U
Active Energy Group PLC
27 March 2019
 

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

27 March 2019

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

Completion of Lumberton Site Acquisition

 

Active Energy, the London quoted renewable energy and forestry management business focussed on biomass, is pleased to announce that further to the Company's announcement of 4 March 2019, the outstanding condition relating to the acquisition of the industrial site in Lumberton, North Carolina (the "Acquisition") has now been satisfied. As such, following the satisfactory review and acceptance of all inspections and titles, as well as appropriate re-zoning for its recognised industrial uses, the Acquisition has completed. 

 

The Lumberton site will become the new base for all AEG's CoalSwitch™ operations in the US and house the first permanent production facility for CoalSwitch™.  

 

The Company's Directors look forward to providing further updates regarding the development of the Lumberton site and the installation of the initial CoalSwitch™ plant as appropriate.

 

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)

 

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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