Last checked at 6 Jan 2014 07:00
Active Energy Group Plc("Active Energy" or the "Company")
Change of Adviser
Active Energy, the pan-European supplier of high-quality woodchip and associated timber products for green energy Biomass power generation and MDF manufacturing, is pleased to announce that it has appointed WH Ireland as nominated adviser and broker to the Company with immediate effect.
Enquiries:
Active Energy Group plc.Richard Spinks, Chief Executive Officer Tel: +380 675 802 852
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 apan-European supplier of high quality woodchip and associated timber products forgreen energy Biomass power generation and MDF manufacturing.
· The company is led by a highly experienced and dedicated management team with a proven track record of working in the regions in which its operations are based.
· In June 2013, Active Energy Group acquired its major trading partner and raised in excess of £3m to facilitate future growth and expansion of its production and shipping facilities.
· Ukraine, with its large forestry reserves and comprehensive road, rail and sea transport links, is an ideal location from which to source raw timber and supply European Biomass energy producers and MDF manufacturers.
· Turkish MDF Market:
o Turkey is the leading producer of MDF in Europe, producing an estimated 4.3 million m3 in 2012, in 6 plants around the country.
o Currently, approximately 69% of the woodchips imported in the Atlantic region from overseas went to Turkey; all of this volume was for production of wood-based panels, primarily MDF. AEG has now developed relationships with all of the major players in the Turkish MDF market-place
o By contrast, high-quality woodchip from AEG's ports in the Ukraine can be transported in approximately one-tenth of the time required for the US, Canadian and Latin American supply chain, representing cost-savings, client-side cashflow advantages and considerably fresher and better quality product.
· European Biomass Market:
o EU directives are greatly accelerating demand for Biomass fuel - 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.
o Bioenergy is expected to account for over 50% of EU renewable energy, according to a European Commission directive on National Renewable Energy Action Plans.