Active Energy Share News (AEG)

(Sharecast News) - Renewable energy and forestry management company Active Energy announced an operational update on the development of its 'CoalSwitch' reference plant at the Lumberton site in North Carolina on Thursday.
The AIM-traded firm said it appointed Player Design in September to complete the engineering and construction process for the plant.

It said additional equipment had been sourced, and the company had started the procurement process.

Construction crews would begin work in January, with commissioning of the plant expected during the second quarter of 2021.

Active Energy said it was in active discussions with prospective customers for the delivery of its "next generation" biomass fuels, including CoalSwitch, in the United States.

"We have been making rapid progress at Lumberton since the award of the permit in August, and we are continuing the pace as we seek to commission the plant as soon as possible in the second quarter of 2021," said chief executive officer Michael Rowan.

"With the additional support from Player Design, we expect the pace of our activities to accelerate to reflect the market opportunities now presenting themselves both in the US and internationally."

Rowan claimed the company was seeing increasing customer interest for both the biomass products, including CoalSwitch, and the underlying CoalSwitch production technologies.

At 1140 GMT, shares in Active Energy Group were down 0.98% at 0.5p.