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Permits granted at Ashland

24 May 2023 07:00

RNS Number : 4242A
Active Energy Group PLC
24 May 2023
 

24 May 2023

 

Active Energy Group Plc

("Active Energy" or the "Company")

 

Permits granted at Ashland to allow construction and operation of the CoalSwitch® plant to commence

 

Active Energy (AIM: AEG, OTCQB: ATGVF), the international biomass based renewable energy business, is pleased to announce that Player Design Inc ("PDI") has informed the Company that it has received the relevant permit (the "Permit") for the construction and operation of a CoalSwitch® manufacturing facility at PDI's site at Ashland, Maine (the "Ashland Facility"). 

The Permit, which has been granted by the Department of Environmental Protection in the State of Maine (the "Department"), will: a) allow PDI to immediately commence the final stage of construction for the CoalSwitch® production plant (the "CoalSwitch® Plant") at the Ashland Facility; and b) permit manufacturing operations at the CoalSwitch® Plant to commence. Under the terms of the Permit, PDI must provide certain additional data to the Department within an initial six-month period.

PDI has confirmed to Active Energy that construction of the CoalSwitch® Plant is due to be completed in Q3 2023 with first production of CoalSwitch® pellets being available for delivery to AEG's potential customers during the same quarter. The initial annualised production volumes are anticipated by PDI to remain at a target rate of 35,000 tons per annum and Active Energy will make any CoalSwitch® produced available for delivery to the Company's identified customers in the US and in Europe.

In conjunction with the developments at the Ashland Facility, Active Energy continues to receive increasing enquiries for the CoalSwitch® technology. In recent weeks, Active Energy has commenced work on additional joint venture production licenses in the US and is working on these licenses to develop the production technology to suit specific facilities. This will, the Company anticipates, further accelerate production volumes in US.

Tyler Player, President of Player Design Inc, commented:

"I am grateful for the support from the State of Maine for all their efforts to ensure a successful conclusion to the permit applications for our facility at Ashland. The project will now move to the final phase of construction and assembly at Ashland and the initial production of CoalSwitch® fuel. I look forward to making the first deliveries of fuel to Active Energy in the coming months. I am confident of providing the operating data to the State of Maine which will allow for permanent operation of the CoalSwitch® Plant."

Michael Rowan, CEO of Active Energy, commented: 

 

"We are delighted that PDI has received the Permit which will allow them to commence production of our next generation biomass fuel, CoalSwitch®. Active Energy has continued to raise the profile of CoalSwitch® with potential customers, both in the US and internationally, and will be sending product to these customers immediately after first production. We look forward to working closely with PDI towards production and we would also like to thank the State of Maine for their ongoing support throughout this process."

 

 

Enquiries: 

Active Energy Group Plc

Michael Rowan (Chief Executive Officer)

Michelle Fagan (Chief Financial Officer)

info@aegplc.com

Allenby Capital Limited

Nominated Adviser and Broker

Nick Naylor/James Reeve/Daniel Dearden-Williams (Corporate Finance)

Amrit Nahal (Sales/Corporate Broking)

Office: +44 (0)20 3328 5656

Camarco

Financial PR Adviser

Tom Huddart / Emily Hall / Lily Pettifar

aeg@camarco.co.uk

Office: +44 (0)20 3757 4980

Scoville PR

US PR Adviser

John Williams

jwilliams@scovillepr.com

 

Website

LinkedIn

 Twitter

www.aegplc.com

www.linkedin.com/company/activeenergy

 

 https://twitter.com/aegplc

@aegplc

 

About Active Energy Group

 

Headquartered in London with operations in the United States, Active Energy Group plc (AIM: AEG, OTCQB:ATGVF) is a biomass-based renewable energy company focused on the production and development of next generation biomass products that have the potential to transform coal fired power and heavy industries and the existing renewable biomass industry.

 

Active Energy has developed a proprietary technology which transforms waste biomass material into high-value renewable fuels. Its patented product CoalSwitch® is a leading drop-in biomass renewable fuel that can be blended and co-fired with coal at any ratio without requiring significant plant modification or wholly replacing existing biomass fuels. In 2022 Active Energy's partner, Player Design Inc commenced the process for building a production facility for Coalswitch® at PDI's facility at Ashland, Maine. Under a "take or pay" arrangement Active Energy will purchase CoalSwitch® from PDI for sale to the Company's prospective customers in the US and Europe.

 

 

 

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MSCDBGDUBGDDGXX
Date   Source Headline
21st Jul 20222:33 pmRNSForm 8.3 - [ACTIVE ENERGY GRP ORD 0.35P]
18th Jul 20227:00 amRNSAward of Malaysian Patent for CoalSwitch®
14th Jul 20227:00 amRNSDirector/PDMR Shareholding
13th Jul 20224:04 pmRNSHolding(s) in Company
13th Jul 20228:58 amRNSDirector/PDMR Shareholding
11th Jul 20224:41 pmRNSSecond Price Monitoring Extn
11th Jul 20224:35 pmRNSPrice Monitoring Extension
11th Jul 20222:19 pmRNSStandard form for notification of major holdings
6th Jul 20224:36 pmRNSPrice Monitoring Extension
4th Jul 202210:47 amRNSResult of AGM
4th Jul 20227:00 amRNSAGM Statement and Strategic Update
1st Jul 20227:00 amRNSCompletion of agreement for the sale of Lumberton
30th Jun 20224:35 pmRNSChange of Adviser
28th Jun 20227:00 amRNSLifecycle Associates’ analysis on CoalSwitch®
27th Jun 20227:00 amRNSNotice of AGM presentation
22nd Jun 20224:40 pmRNSSecond Price Monitoring Extn
22nd Jun 20224:35 pmRNSPrice Monitoring Extension
22nd Jun 20222:05 pmRNSSecond Price Monitoring Extn
22nd Jun 20222:00 pmRNSPrice Monitoring Extension
10th Jun 20221:07 pmRNSReplacement: Posting of accounts & AGM notice
10th Jun 202212:00 pmRNSPosting of report and accounts, notice of AGM
27th May 20227:00 amRNSAudited results for year ended 31 December 2021
12th Apr 202211:05 amRNSSecond Price Monitoring Extn
12th Apr 202211:00 amRNSPrice Monitoring Extension
7th Apr 20222:05 pmRNSSecond Price Monitoring Extn
7th Apr 20222:00 pmRNSPrice Monitoring Extension
31st Mar 20227:00 amRNSSale of the Lumberton site for $4.65 million
15th Mar 20227:00 amRNSActive Energy receives FSC® certification
10th Feb 20227:00 amRNSResponse to notice from the SELC
31st Jan 20227:00 amRNSFirst phase CoalSwitch™ combustion testing results
6th Jan 20227:00 amRNSHolding(s) in Company
4th Jan 202211:06 amRNSSecond Price Monitoring Extn
4th Jan 202211:01 amRNSPrice Monitoring Extension
4th Jan 20229:28 amRNSStandard form for notification of major holdings
31st Dec 20211:30 pmRNSTotal Voting Rights
31st Dec 20211:26 pmRNSStandard form for notification of major holdings
31st Dec 20217:00 amRNSStandard form for notification of major holdings
29th Dec 202110:34 amRNSResult of General Meeting
22nd Dec 202111:58 amRNSUpdate on General Meeting
20th Dec 20212:25 pmRNSHolding(s) in Company
17th Dec 202110:48 amRNSStandard form for notification of major holdings
16th Dec 20214:20 pmRNSStandard form for notification of major holdings
16th Dec 202111:19 amRNSStandard form for notification of major holdings
13th Dec 20212:28 pmRNSStandard form for notification of major holdings
10th Dec 202112:15 pmRNSPosting of Shareholder Circular & Notice of GM
9th Dec 202110:30 amRNSSuccessful Fundraise & Subscription raising £3.0M
9th Dec 20217:00 amRNSProposed fundraising and subscription
15th Nov 20219:05 amRNSSecond Price Monitoring Extn
15th Nov 20219:00 amRNSPrice Monitoring Extension
1st Nov 20217:00 amRNSAward of Canadian Patent for CoalSwitch™

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