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Active Energy (AIM: AEG, OTCQB: ATGVF), the international biomass based renewable energy business, announces an update on the progress of the construction of the CoalSwitch® manufacturing facility at Ashland, Maine (the "Ashland Facility").
Active Energy has been informed that construction of the Ashland Facility will not be completed, and the Ashland Facility will not be ready to commence production, before the end of Q3 2023. It has been confirmed that the delay in completion of construction is due to delays in receipt of key components and associated equipment. Operations at the Ashland Facility and production of CoalSwitch® are now expected to commence in November. Accordingly, Active Energy will not have CoalSwitch® fuel available for delivery to its potential customers during September 2023.
In recent months, Active Energy's sales team has initiated a broad range of active discussions worldwide with high quality future customers across several industries for CoalSwitch®. The Board is pleased with the accelerating progress of these discussions, which consistently confirm the premium properties of CoalSwitch® fuel and which provide strong evidence that, once production commences, there will be significant market demand for the fuel.
Active Energy will be announcing its interim results for the 6 months ended 30 June 2023 later in September 2023 and, as part of the results announcement, will provide an update on the sales strategy, together with an update on the progress toward CoalSwitch® fuel production.
Michael Rowan, CEO of Active Energy, commented:
"The delay in completion of the Ashland Facility is obviously disappointing news for the CoalSwitch® program. Nonetheless, despite the production delay, we continue to be actively engaged with an increasing number of potential customers for CoalSwitch® and the current level of engagement confirms the future commercial opportunities for the fuel. I look forward to updating shareholders in the announcement of our interim results later in the month."
We normally have a little leaky pump if it's good news. But obviously happy to be proven wrong! Apparently the permits are in and the first boiler has arrived with construction ongoing. PDI is still projecting production Q3.
Same, I conceded and said all or nothing.
FYI, I'd check out what Ripple are doing in the world of transactions too if you're interested. Been in that saga for over 3yrs so not quite as bad but light at the end of the tunnel. BILL HINMAN EMAILS Is key.
Aeg twitter account: "Thrilled to announce the state of Maine has granted the requisite permits to our production partner PDI. PDI is now able to commence construction, install key equipment, perform testing and trials, and ready the plant for #CoalSwitch® production in Q3.."
https://www.google.com/amp/s/www.benzinga.com/amp/content/29612762
Will see these orders fly in this year inline with MR's last statement: "Since the AGM we have already expanded the Company's sales function, both in the US and internationally, to address increasing customer enquiries for CoalSwitch®. For the remainder of this year, AEG will be focused on converting these commercial discussions into orders for CoalSwitch® for delivery in 2023 and beyond."
It's all pathetic though isn't it. Literally just arguing about an opinion. I mean it's you're right in a public forum, but it's juts a bit boring, to keep coming back to check in and just see a bunch of frustrated men arguing about an opinion :-/
Ridiculous post Winter...begs the question why you have found a feed to say how ludicrous it is to buy in to. 1 post to your name...and it's one of the most moronic things I've seen on here. Do a bit of research and perhaps you'll understand...or just move on and find a share worth talking about.
Hazmat, you've joined the forum and your first post is to knock a share when it's up? Behave! Probably just not buy in and move on mate because if you're already knocking it now, you won't survive considering this shares history.