Active Energy Group PLC - London-based biomass fuel producer - Concludes internal review into failure of reactor which led to suspended production at company's CoalSwitch Ashland Facility in early August.
The reactor failure was caused by the failure of a monitoring component which led to an unexpected interruption in a production cycle. As a result, both reactors are inoperable and will require replacing, while all other equipment remains operational.
Company is currently exploring options to re-establish production at the Ashland Facility as soon as possible.
"It is frustrating that the failure of the monitoring component occurred at a time when the reference plant was increasing production volumes on a daily basis but, notwithstanding this, AEG and PDI were able to collect invaluable production and emissions data, technical know-how to assist in future production plant development, and produce sufficient volumes of CoalSwitch fuel for prospective customer testing," says Chief Executive Officer Michael Rowan.
Current stock price: 0.42 pence
Year-to-date change: down 70%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Active Energy (AEG)