AEG Makes First Seaborne Shipment of Wood Chip
25 July 2012
AIM: AEG
ACTIVE ENERGY GROUP PLC
("Active Energy" or "the Group" or "the Company")
Active Energy Group Plc Makes First Seaborne Shipment of Wood Chip
Active Energy, the AIM - quoted Biomass fuel provider announces that it has completed its first seaborne shipment of wood chip from Ukraine to Turkey.
This is an important development for AEG, which recently appointed Richard Spinks as CEO and revealed its strategic focus on providing wood chip and other timber products from its Ukrainian operations to international markets. It represents a significant step in AEG's plans to substantially increase its export volumes and open new routes to market for ever larger quantities.
This initial shipment of 4,000 tonnes of wood chip from Nikolayev Port on the Black Sea was performed in conjunction with two of AEG's main trading partners - Ukrwood Export and Nikofeso Holdings - and is early evidence of the Company's strategy of outsourcing some of its processing and logistics operations to a select network of third-party service providers, allowing it to concentrate on leveraging its access to feedstock resources in the Ukrainian market.
The shipment was delivered to Siram SpA, a subsidiary of Dalkia International (part of Veolia Environnement). Dalkia International is one of the world's largest energy services providers, manages over 123,500 energy plants in 40 countries - many of them affected by EU regulations regarding the burning of biomass fuel - and achieved revenues of €8.3 billion in 2011.
Siram SpA provides a full range of services for optimising energy and environmental efficiency and the directors of AEG anticipate that this transaction represents the start of a long-term relationship for both companies.
Shipping by sea allows AEG to speedily and cost-effectively supply large volumes of wood chip and other timber products to Central and Southern Europe. The Company intends that shipment by sea will operate alongside its established facilities for shipment by rail from its Ukrainian base to Poland and Western Europe.
Commenting on this successful expansion of AEG's operations, AEG Chief Executive Officer Richard Spinks said:
"I am proud to report that the strategy that we unveiled in our recent Company Update (available at www.active-energy.com) - the result of a far-reaching review of AEG's operations and opportunities over the past several months - is already beginning to bear fruit. Shipment by sea from Nikolayev Port is a key part of that future strategy, and unlocks substantial new markets for our wood chip and biomass fuel products."
Enquiries:
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Active Energy Group Plc Richard Spinks, Chief Executive Officer |
Tel:+38 0675 802 852 |
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Merchant Securities Limited (Nominated Adviser and Broker) |
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Simon Clements |
Tel: +44207628 2200 |
This information is provided by RNS
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