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LONDON (Alliance News) - Active Energy Group PLC on Wednesday said it has appointed Dan Shaw as the director of business development of its newly launched renewable energy division that is hoping to revolutionise the biomass fuel market.
Shaw has 25 years experience working within the mining, minerals and chemicals industries, bringing a valuable global network of investment, manufacturing and technology contacts to the company.
He previously held the role of director of new ventures and corporate development at Harsco Metals & Minerals, a division of the US's Harsco Corp, and spent several years prior working as a business analyst and product and process development manager in the steel, metals, chemical and materials industries.
Working with the existing US and UK based business development team at AEG CoalSwitch, Shaw's role will include negotiating with international power generation utilities and raw material feedstock owners to further develop the commercial opportunities for the company's biomass-derived coal replacement fuel technology, which has generated "enormous international interest" since it was announced in September 2015, said Active Energy.
Active Energy is primarily focused on supplying timberland management and development services, and industrial wood fibre, but has recently branched out with its new division, AEG CoalSwitch, which offers biomass coal replacement fuels, giving companies the opportunity to switch coal-fired stations to run off renewable sources rather than coal.
Active Energy claims its AEG CoalSwitch technology is the only technology that companies can use to immediately replace the coal they burn, or to burn alongside coal, without having to make any adjustments to their facilities, or as the first "drop-in biomass fuel" on the market.
The technology converts any fibrous or wood-based biomass material into high-energy feedstock via a process that removes the vast majority of minerals, salts and other contaminants that have prevented renewable Biomass-derived fuels from entering the energy mainstream.
To put the technology into context, London-listed Drax Group PLC is spending around GBP700.0 million on converting three of its six coal-fired units at its UK power station to use biomass rather than coal, something that would not be required if a company were to use AEG CoalSwitch's technology.
Active Energy shares were down 2.0% to 5.68 pence per share on Wednesday.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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