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(Sharecast News) - Biomass-based renewable energy company Active Energy updated the market on its current activities at the Lumberton site in North Carolina on Friday.
The AIM-traded firm said the internal review by the North Carolina Department of Environment and Natural Resources, Department of Air Quality (NCDAQ) over the issue of relevant construction and air permit for the five tonne per hour plant had been completed.
It said that, in accordance with industry practices with existing pellet mills in North Carolina, NCDAQ had requested that a public information meeting be held before the issue of the permit, with a meeting set to be convened within the next month.
Subject to any conditions within the permit, Active Energy said it expected construction to begin once the permit is granted.
The company said it was still progressing its operations at the commercial hub at the Lumberton site, to facilitate the commercial production of its 'CoalSwitch' product, and second-generation biomass pellets.
Active Energy said it was still undertaking engineering analysis for the CoalSwitch plant, with its management teams said to be working to secure offtake agreements both in the United States and internationally.
Supplementary analysis on the development of ancillary products, where CoalSwitch is blended with waste materials to produce a biomass-based black pellet fuel, was also ongoing.
"This is the first occasion where the CoalSwitch production process has been analysed by relevant environmental authorities," said chief executive officer Michael Rowan.
"I am pleased with the initial conclusions of the Department of Air Quality in North Carolina.
"Active Energy welcomes the opportunity to present its plans for the Lumberton site at a public meeting to demonstrate not only the environmental advantages AEG's black pellets have against existing white pellet production, but also the sustainable production processes that Active Energy intends to introduce at Lumberton."
At 1345 GMT, shares in Active Energy Group were up 8.64% at 0.56p.
27 May 2022 16:00
IN BRIEF: Active Energy narrows loss; focuses on CoalSwitch production
Active Energy Group PLC - London-based biomass focused renewable energy business - Narrow pretax loss in 2021 to USD5 million from USD7.0 million the previous year. Loss includes an impairment of USD2.0 million related to damaged reactors following component failure at Ashland on the US east coast. Revenue falls sharply to USD644,914 from USD1.6 million. Assets increase to USD21.7 million from USD18.1 million. Continues to focus on delivery of the first CoalSwitch production facility in Ashland.
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