Last checked at 27 May 2014 07:00
Active Energy Group Plc("Active Energy Group" or the "Group" or the "Company" or "AEG")
CEO Richard SpinksAppears on Bloomberg TV 23 May 2014
Active Energy Group Plc (AIM:AEG), the fast-growing pan-European supplier of wood chip for the Biomass for Energy ('BFE') and MDF manufacturing industries, which is developing a unique high-energy Biomass fuel granule and granule manufacturing solution, announces that CEO Richard Spinks was interviewed by Olivia Sterns, anchor on Bloomberg TV's flagship show 'The Pulse' on Friday 23 May 2014.
The interview followed AEG's successful unveiling of a revolutionary Biomass fuel-granulating system to an audience of international partners, industry specialists and prospective project investors at an event in Belfast. During the interview, Richard Spinks described why the technology - for which AEG has signed an exclusive global licensing agreement - is a potential game-changer for the Biomass fuel and renewable energy industries, while also providing an update on developments in the Company's Ukrainian operations.
To watch the Bloomberg TV interview, please follow this link: http://www.bloomberg.com/video/how-biomass-power-creates-fuel-from-waste-4BD3jbFmT2O1HfSiA5tcow.html
Enquiries:
Active Energy Group plcRichard Spinks, Chief Executive Officer Tel: +380 503 942 702
WH Ireland (Nominated Adviser and Broker) Chris Fielding Tel: +44 20 7220 1666
Novella CommunicationsTim Robertson / Ben Heath Tel: +44 20 3151 7008
About Active Energy Group:
· Company website: www.active-energy.com
· Active Energy Group Plc, a London Stock Exchange-listed company (AIM: AEG), is a pan-European supplier of wood chip, high-energy fuel granules and granule manufacturing systems for the Biomass for Energy ('BFE') and MDF manufacturing industries.
· The Group, headquartered in London, currently operates from four locations across Europe:
o Ukraine, where it is the largest producer and exporter of MDF-quality wood chip
o Spain and Montenegro, from where it supplies BFE Biomass wood chip to power plants in Italy
o Northern Ireland, where it operates an R&D facility for its new Biomass fuel granulating systems
· The Group is led by a highly experienced and dedicated management team with a proven track record of working in the industries and regions from which its revenues are generated.
· In June 2013, AEG acquired its major trading partner and raised in excess of £3 million to facilitate future growth and expansion of its international production and shipping facilities.
· In May 2014, the Group announced the formation of a new subsidiary, AEG Pelleting Limited, to commercialise and market a revolutionary new Biomass for Energy ('BFE') fuel granulating system that converts sawdust and other industrial and agricultural co-products into valuable fuel granules for use in large-scale power plants and micro-CHP boilers.
· European Biomass for Energy ('BFE') Market:
o Biomass-fuelled power is expected to account for over 50% of European renewable energy, according to an EU directive on National Renewable Energy Action Plans.
o EU directives and continued commissioning of new Biomass and CHP power plants in Europe continue to generate additional demand for Biomass fuel, with little visibility on where that fuel will be sourced.
o The European Renewable Energy Council (EREC) estimates that Biomass-based energy production will grow from 43TWh (Terawatt Hours) in 2005 to 250TWh in 2020.
o Key NGO bodies such as the European Biomass Association and Eurelectric (the European Union of the Electricity Industry) advocate establishing harmonised, binding sustainability criteria for solid Biomass fuel.