Last checked at 5 Apr 2016 07:00
5 April 2016
Active Energy Group plc ("Active Energy" or the "Company")
Board Changes
Active Energy, the AIM quoted international vertically-integrated renewable energy, forestry management and timber processing business, announces that Chairman Mr. Frank Lewis is stepping down from the Board with immediate effect in order to pursue his other business interests. Mr. Michael Rowan, who currently sits on the Board as a Non-Executive Director, will assume the role of Interim Non-executive Chairman whilst the Board evaluates potential candidates for the permanent Chairman role. A subsequent announcement will be made in due course once an appointment has been made.
Richard Spinks, Chief Executive Officer of Active Energy said, "Frank has been a source of support and insight since being appointed as Non-executive Chairman early last year. We all wish him the best of luck in his future endeavours.
"The Board now intends to interview individuals with the requisite skills to drive progress and growth across Active Energy's diversified business units. In particular, we are looking to appoint a Chairman with the necessary experience to support Active Energy in fulfilling the potential of AEG CoalSwitch, our Biomass 'drop-in' coal replacement fuel. "
**ENDS**
Enquiries & Further Information
Website | ||
www.active-energy.com | www.linkedin.com/company/activeenergy
| www.twitter.com/aegplc (@aegplc) |
Enquiries | ||
Active Energy Group Plc
| Richard Spinks Chief Executive Officer
| richard.spinks@active-energy.com Int: +380 503 942 702 |
Brian Evans-Jones Chief Financial Officer | brian.evans-jones@active-energy.com UK: +44 (0)7500 861 696 Ukraine: +380 955 227 745 | |
WH Ireland Ltd Nominated Adviser & Broker
| Chris Fielding/Mark Leonard
| Office: +44 (0)20 7220 1666 |
St Brides Partners Financial PR Adviser
| Susie Geliher/Frank Buhagiar | info@stbridespartners.co.uk Office: +44 (0) 20 7236 1177 |
About Active Energy Group
Active Energy Group Plc ("Active Energy" or "AEG") is an AIM quoted company operating internationally across the entire timber supply chain - from forest to factory and fuel.
Active Energy's vertically-integrated business units provide timberland development services for forestry owners, industrial wood fibre for MDF manufacturers, and second-generation Biomass coal replacement fuels for industrial power generators.
Active Energy has three divisions:
· AEG TimberLands: Forestry Asset Management and Development
· AEG WoodFibre: Industrial Wood Fibre for Medium-Density Fibreboard (MDF) Manufacturing
· AEG CoalSwitch: Advanced Biomass Coal Replacement Fuels and Fuel Processing Systems
Active Energy's relationships with forestry owners through its AEG TimberLands operation allows the Company to maximise the value of its standing timber assets, converting low-grade material - primarily non-saw logs/technical lumber and forestry thinnings - into industrial wood fibre for MDF manufacturing via Active Energy's AEG WoodFibre division. This vertically integrated model also provides feedstock for the Company's AEG CoalSwitch joint venture, which generates green energy power generation from Biomass.