Access to a deeper pool of capital timely as company continues progress on first production facility in Maine
NEW YORK, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Active Energy Group (AIM:AEG, OTCQB: ATGVF), producer of CoalSwitch®, a new clean energy pellet, will begin trading today on the OTCQB Venture Market (“OTCQB”) in the United States, under the ticker symbol "ATGVF". The development enables AEG access to not only a deeper pool of capital, but also access to U.S. investors as the company builds out the first CoalSwitch production facility in the U.S.
OTCQB will provide enhanced investor benefits, including easier trading access for investors located in the U.S., and greater liquidity due to a broader geographic pool of potential investors. It also allows U.S. investors to invest in a company whose operations will eventually span the country.
"Joining OTCQB is strategically important for AEG. We are a business with solely US operations, an increasing profile amongst U.S. customers and an ambition to commence production, alongside joint venture partners, on both the East and West coasts,” said Michael Rowan, CEO of Active Energy Group. “We are therefore pleased to be able to offer prospective US shareholders the opportunity to invest in AEG’s exciting growth trajectory alongside our current UK institutional and retail investors.”
AEG’s next generation biomass technology, CoalSwitch, has been shown to reduce CO2 emissions by 99 percent compared to coal and 97 percent compared to natural gas in an independent report from Life Cycle Associates. This is in addition to independent testing carried out with Rocky Mountain Power that showed this fuel can readily co-fire with coal and in doing so significantly reduces emissions and produces fewer pollutants. AEG has also achieved Chain of Custody (CoC) and Controlled Wood certifications that are compliant with Forest Stewardship Council® (FSC) standards for its CoalSwitch confirming that it only uses forest-based materials from responsible sources and that all AEG’s suppliers have committed to the strictest standards of forest management.
The availability of CoalSwitch, the certifiably lower-carbon biomass fuel, comes at a perfect time. The Inflation Reduction Act offers numerous incentives to help utilities, power generators and heavy industries reduce emissions. Whether these entities simply want to blend CoalSwitch in with their existing fuel supplies or locate a CoalSwitch production facility onsite, AEG can provide an immediate and cost-effective solution toward emissions reduction.
“We are delighted to welcome Active Energy Group PLC to the OTCQB Venture Market in the United States,” said Jonathan Dickson, Vice President of Corporate Affairs at OTC. “With AEG’s primary listing remaining on London's AIM the OTCQB Market's cross trading facility will allow Active Energy Group to broaden its horizons and provide investors in the United States with the ability to access the Company's Ordinary Shares in U.S. dollars and during U.S. market hours.”
About Active Energy Group:
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 coal fired power and heavy industries and the existing renewable biomass industry.
AEG 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 co-fired with coal mixed at any ratio or completely replace coal as an alternative feedstock without requiring significant plant modification or wholly replacing existing feedstock resources.
Active Energy Group's immediate strategic focus is the production and commercialization of CoalSwitch®. CoalSwitch® is a registered trademark belonging to Active Energy Group plc.
FSC License Code: FSC-C175386
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