Last checked at 10 Dec 2020 07:00
Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy
10 December 2020
Active Energy Group Plc
("Active Energy", "AEG", or the "Company")
Patent Awarded for CoalSwitch™
Active Energy, the London quoted international biomass based renewable energy and forestry management business, is pleased to announce that it has been awarded a new U.S. patent for its CoalSwitch™ process and the beneficiation of biomass. The patent, number 10,858,607, was awarded on 8 December 2020 and will ensure Active Energy holds the legal rights to exclude any other company from producing, selling or using the claimed CoalSwitch™ process for over 17 years. The proprietary CoalSwitch™ process includes subjecting steam-exploded biomass to a second washing step to remove additional salts and light volatile compounds derived from the biomass.
This new patent combines with the U.S. process patent, number 10,647,935, which was awarded for AEG's PeatSwitch™ technology on 12 May 2020. AEG's PeatSwitch™ patent gives AEG the exclusive rights over the process of producing an engineered soil from raw biomass in AEG's unique reactor.
The Company continues to file further patent applications in the US and will follow each of these with additional filings in Canada, Malaysia, Thailand and Europe.
Michael Rowan, CEO of Active Energy, said:
"CoalSwitch™ has significant market potential and is unique given the distinct and highly beneficial differences between its processes and other biomass beneficiation methods. The value driver is in the pre-treatment and post-treatment processes that effectively remove most of the soluble mineral contaminants. These patent awards to AEG underline the important commercial opportunities for CoalSwitch™. We look forward to continuing to develop the patent portfolio for AEG."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
ENDS
Enquiries | ||
Active Energy Group Plc | Michael Rowan Chief Executive Officer Antonio Esposito Chief Commercial Officer
| www.aegplc.com |
SP Angel Corporate Finance LLP Nominated Adviser and Broker
| David Hignell / Caroline Rowe | Office: +44 (0)20 3470 0470 |
Allenby Capital Limited Joint Broker | Amrit Nahal / Nick Naylor | 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 Group:
Active Energy Group plc is a London listed (AIM: AEG) renewable energy company that has developed a proprietary technology which transforms low-cost biomass material into high-value green fuels. Its patented product CoalSwitch™ is the world's only drop-in biomass fuel that can be mixed at any ratio with coal or completely replace coal in existing coal-fired power stations without requiring plant modification. Active Energy Group's immediate strategic focus is the production and commercialisation of CoalSwitch™ and a low emission CoalSwitch™ blend that utilises other waste materials.