Last checked at 2 Sep 2021 07:00
Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy
2 September 2021
Active Energy Group Plc
("Active Energy" or the "Company")
First CoalSwitchTM pellet analysis from University of New Brunswick, Canada
Confirms premier qualities
Active Energy announces that it has received the first independent analysis of the CoalSwitchTM pellets produced at the Ashland facility in June 2021. The pellet analysis was conducted by the Wood Science and Technology Centre at the University of New Brunswick, which Active Energy has engaged to analyse its next generation biomass fuel: CoalSwitchTM. The results of this first analysis confirm CoalSwitchTM's superior qualities to white pellets as well as its suitability as a sustainable substitute for carbon emitting fuels.
The CoalSwitchTM pellets were produced from waste wood located in the vicinity of Ashland, Maine. The pellets were analysed for their proprietary qualities, namely the quality of the pellet produced from the Ashland facility, its heating value and organic elemental analysis in a laboratory environment.
The results from the first analysis are as follows:
· CoalSwitchTM pellets were produced to industry standard size and met the initial hydrophobic tests set by the Pellet Fuels Institute;
· CoalSwitchTM pellets produced from Ashland had a bulk density of 42.17 lb/ft3 (or 672 kg/m3) - a substantial premium to existing white pellets;
· CoalSwitchTM pellets when burned produced less ash (circa 3% inorganic ash) - a significant reduction to customary ash content for coal at circa 11% ash content;
· CoalSwitchTM pellets in the elemental analysis contained circa 55% carbon and less than 0.5% sulphur content - a significant improvement from white pellet; and
· CoalSwitchTM pellets had an increased heating value over white pellet, namely 10,042 btu/lb (with the potential for even greater heating value yields by reducing the moisture content which was attained during first production).
Max Aitken, Active Energy Non-Executive Director, said:
"We are extremely encouraged by this initial analysis of our CoalSwitchTM product produced at our Ashland facility. The results validate that CoalSwitchTM can be used as an efficient replacement for carbon emitting fuels, and that it burns more effectively than other equivalent fuels such as white pellet. We thank the University of New Brunswick and look forward to supplying more fuel in the coming weeks in order to progress these tests further."
Dr. Chen Huang, Research Scientist, Wood Science & Technology Centre, University of New Brunswick, said:
"We are excited to be working with Active Energy in the development of next generation biomass fuels. Initial test results demonstrate CoalSwitchTM as an improvement over existing white pellet currently available in the market and we look forward to continuing the testing program over the coming months."
This initial analysis will be replicated by UNB in the coming weeks with completed production from the Ashland Facility for additional emissions analysis.
Update on Ashland Facility
Further to the announcement on 9 August 2021, the Company continues to undertake a detailed assessment of the Facility. The Company anticipates that the assessment will be concluded in the next couple of weeks and a full update will be provided to shareholders later in September. The Company continues to have stores of CoalSwitchTM at Ashland to meet prospective customer enquiries.
Regulatory information
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
ENDS
Enquiries | ||
Active Energy Group Plc | Michael Rowan (Chief Executive Officer) Andrew Diamond (Chief Financial Officer) Max Aitken (Director) | info@aegplc.com |
SP Angel Nominated Adviser and Joint Broker | David Hignell / Caroline Rowe(Corporate Finance) Rob Rees (Sales) | Office: +44 (0)20 3470 0470 |
Allenby Capital Limited Joint Broker | Nick Naylor/James Reeve (Corporate Finance) Amrit Nahal (Sales/Corporate Broking) | Office: +44 (0)20 3328 5656 |
Camarco Financial PR Adviser | Gordon Poole / Tom Huddart / Emily Hall | aeg@camarco.co.uk Office: +44 (0)20 3757 4980 |
About Active Energy
Active Energy Group plc is a London listed (AIM: AEG) renewable energy company focused on the production and development of next generation biomass products that have the potential to transform the traditional coal fired-power industry and existing renewable biomass industry.
The Company has developed a proprietary technology which transforms waste biomass material into high-value renewable fuels. Its patented product CoalSwitchTM is a leading drop-in renewable fuel that can be co-fired with coal, completely replace coal as an alternative feedstock without requiring significant plant modifications or replace existing biomass feedstock resources. Active Energy's immediate strategic focus is the production and commercialisation of CoalSwitchTM and further CoalSwitchTM fuel blends that utilise other waste wood and residual materials.
CoalSwitchTM is a registered trademark belonging to Active Energy Group plc.