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Active Energy Group PLC (AEG.L)

LSE - LSE Delayed price. Currency in GBp
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0.39500.0000 (0.00%)
As of 11:00AM BST. Market open.
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Previous close0.3950
Open0.3950
Bid0.0000 x 0
Ask0.4000 x 0
Day's range0.3800 - 0.4050
52-week range0.3500 - 1.9500
Volume756,106
Avg. volume9,853,901
Market cap15.413M
Beta (5Y monthly)2.07
PE ratio (TTM)N/A
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
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News
  • Globe Newswire

    Active Energy Group to Build 2nd U.S. CoalSwitch™ Production Facility in Ashland, Maine

    CoalSwitch, made from waste biomass, can replace up to 100 percent of coal in power plants, reducing emissions and preserving jobs and economic impact of existing energy providers Construction of AEG's second CoalSwitch Production Facility in Ashland, Maine AEG's second CoalSwitch production facility is underway in Ashland, Maine. ASHLAND, Maine, May 20, 2021 (GLOBE NEWSWIRE) -- Active Energy Group plc (AIM: AEG) announced Ashland, Maine as the location for its second CoalSwitch™ production facility. AEG has partnered with Player Design, Inc. (“PDI”) to complete the facility which, at scale, could produce up to 35,000 tons of CoalSwitch per year. “We are seeing increased demand for our next-generation biomass pellets from customers in North America,” said Michael Rowan, CEO of AEG. “Our partnership with PDI and the support from the State of Maine will enable us to accelerate production of CoalSwitch to help reduce overall CO2 emissions from the power generation industry.” CoalSwitch is a revolutionary “drop-in” biomass feedstock that can co-fire with coal or replace up to 100 percent of the coal in power stations without requiring plant modification. AEG’s patented technology plant converts residual from lumber operations as well as locally-sourced residual (including bark and treetops/branches) from forestry operations, into CoalSwitch, which burns at temperatures nearly identical to coal, but cleaner and more efficiently while producing less ash. PDI already has an operational log processing facility at the Ashland facility, which has been expanded to accommodate CoalSwitch production. PDI and AEG were granted a temporary operating permit by the State of Maine in April, 2021 to allow the construction of the facility as well as immediate operations between May 15 and July 31 to produce an initial amount of 1,000 oven dried tons of fuel. “PDI has built a close working relationship with the team at AEG over many months. We have seen the potential that CoalSwitch can present to the biomass industry,” said Tyler Player, CEO of Player Design. “The opportunity to add a new production facility in Maine is important, not only to allow Player Design to further demonstrate the potential of the fuel and its production process, but also to enable a wider North American audience to appreciate the future of next generation biomass fuels.” All parties intend to present the operating data from this facility to the Department of Environmental Protection within the State of Maine as soon as production commences in late May, with the aim of securing a long-term operating permit for the Ashland facility. CoalSwitch produced at the Ashland facility will be shipped to PacifiCorp’s Hunter Power Plant in Castle Dale, Utah for a coal/biomass co-firing demonstration scheduled for June, 2021. PacifiCorp is the largest grid operator in the western United States serving the growing energy demands of 1.9 million customers. “The State of Maine is excited for the prospects of CoalSwitch production at the Ashland Facility,” said State Senator Troy Jackson (D-1), who is also President of the Maine Senate. “The State of Maine wants to see new technologies developed for the biomass industry and assisting companies like PDI and AEG to develop new commercial, environmentally-friendly processes is our utmost priority.” 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 waste biomass into renewable energy. Its patented product CoalSwitch™ is a leading drop-in biomass feedstock that can co-fire with coal or replace up to 100 percent of the coal in power stations without requiring plant modification. The company is developing commercial production facilities in Lumberton, North Carolina and Ashland, Maine which will supply power and utility customers, including the pilot program at PacifiCorp’s Hunter Power Plant in Utah. More information is available at www.aegplc.com. Media Relations ContactJohn Williams, Scoville PR for AEG206-660-5503, jwilliams@scovillepr.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5d36d90f-8932-46d8-9fcd-f075b0e30c18