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10 Jun 2019 14:41
Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy
10 June 2019
Active Energy Group Plc
('Active Energy', 'AEG' or the 'Company')
Reactors Successfully Delivered to Lumberton Site in the U.S.
Active Energy, the London quoted renewable energy and forestry management company focussed on biomass, is pleased to announce that following the Company's announcement of 4 June 2019, its reactors have been successfully delivered to its industrial site in Lumberton, Robeson County, North Carolina ('Lumberton' or 'the Project').
Lumberton is being developed to be the Company's first permanent production facility for CoalSwitch™, its proprietary technology that transforms low-cost biomass material into high-value green fuels, and to serve as the primary base for all its biomass fuel operations in the U.S.
The Company is now making rapid progress advancing construction of its new CoalSwitch™ operation at Lumberton, with construction of the 5 tonne per hour plant to commence and engineering crews arriving within the month.
To view the announcement with illustrative images, please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/7131B_1-2019-6-10.pdf
Figure 1: Test Reactors Arriving at Lumberton Site
Figure 2: Test Reactors being offloaded at Lumberton Site
Figure 3: Test Reactors being staged for installation
Further Details
Lumberton is strategically located close to AEG's joint venture partner Georgia Renewable Power LLC ("GRP") and is also in the heart of the lumber production region in North America. The fully permitted facility includes up to 415,000 sq ft of covered factory space, circa 151 acres of surrounding land, as well as ancillary facilities, such as water treatment, an analysis lab, offices and IT hardware. Lumberton is also located close to the Eastern Seaboard of the United States, which the Directors believe will be advantageous for the Company as it seeks to generate regular sales of its products to Western Europe and South East Asia.
The Directors believe that the size of Lumberton will ensure significant scope for the expansion of the initial CoalSwitch™ plant via the addition of extra CoalSwitch™ production facilities targeting capacity of up to 500,000 tonnes per annum during 2021. Furthermore, the Directors expect that AEG will benefit from complementary biomass, saw logging and other commercial revenue opportunities in the Lumberton area.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
**ENDS**
Enquiries & Further Information:
Website |
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www.aegplc.com | www.linkedin.com/company/activeenergy
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Enquiries | ||
Active Energy Group Plc | Michael Rowan Chief Executive Officer (Active Energy) Antonio Esposito Chief Operations Officer (Active Energy) | C/O SBP +44 (0) 20 7236 1177 |
SP Angel Corporate Finance LLP Nominated Adviser and Broker
| David Hignell / Lindsay Mair / Jamie Spotswood | Office: +44 (0)20 3470 0470 |
St Brides Partners Financial PR Adviser | Melissa Hancock / Gaby Jenner | info@stbridespartners.co.uk Office: +44 (0) 20 7236 1177 |
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 a 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 other biomass where a low emission biomass-based fuel can be created as a blend with CoalSwitch™.
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