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LONDON (Alliance News) - Biomass-focused energy firm Active Energy Group PLC said on Tuesday it has been awarded a US government grant of USD500,000 for its new manufacturing site in North Carolina.
The building re-use and renovation grant will be provided through the Community Development Block Grant programme of the US Department of Housing & Urban Development.
The CoalSwitch site in Lumberton, North Carolina is intended to be Active Energy's first permanent production facilit, and the primary base for the company's US operations.
The project includes up to 415,000 square feet of covered factory space and around 151 acres of surrounding land.
"The Lumberton site gives AEG an ideal base in the heart of the lumber production region in North America. Importantly, the Lumberton site provides a foundation for our onward expansion as it benefits from proximity to multiple power stations as well as the US Eastern Seaboard, ensuring AEG is connected to established export routes for sales of CoalSwitch domestically and internationally," said Chief Executive Officer Michael Rowan.
Shares in Active Energy were up 0.5% at 0.48 pence on Tuesday.
