Active Energy Group PLC Construction and Air Permit Granted (0046V)

TIDMAEG

RNS Number : 0046V

Active Energy Group PLC

04 August 2020

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

4 August 2020

Active Energy Group Plc

('Active Energy', 'AEG' or the 'Company')

Construction and Air Permit Granted

Active Energy, the international biomass based renewable energy business, is pleased to announce that the construction and air permit (the "Permit") for the Company's CoalSwitch(TM) plant at Lumberton, North Carolina (the "Lumberton Site") has been granted by the NC Division of Air Quality. With the issuance of the Permit, Active Energy can now commence the final stage planning and construction for a CoalSwitch(TM) plant targeting production capacity of up to 5 tonnes per hour.

Michael Rowan, CEO, Active Energy Group, comments:

"The receipt of the Permit will transform Active Energy into a leading provider of waste to energy, second generation biomass technologies and represents the final approval required at the Lumberton Site, marking a major milestone for the Company. Active Energy can now push forward unhindered with completing the construction of an operable CoalSwitch (TM) plant at the Lumberton Site and provide the first working showcase of CoalSwitch(TM) technology. We would like to thank the NC Division of Air Quality for their ongoing support throughout this process."

Activity at the Lumberton Site has accelerated in recent weeks as Active Energy creates a strategically located hub for lumber and next generation biomass pellet operations in the US. The granting of the Permit is the next step in Active Energy's long term plan to develop complementary lumber and biomass activities.

ENDS

Enquiries:

 
 Website          LinkedIn 
 www.aegplc.com   www.linkedin.com/company/activeenergy 
                 -------------------------------------- 
 
 
 Enquiries 
 Active Energy        Michael Rowan 
  Group Plc            Chief Executive Officer 
                       Antonio Esposito 
                       Chief Operations Officer 
                     -----------------------------  ---------------------------- 
 SP Angel Corporate   David Hignell / Caroline       Office: [phone] 
  Finance LLP          Rowe 
  Nominated 
  Adviser and 
  Broker 
                     -----------------------------  ---------------------------- 
 Allenby Capital      Amrit Nahal / David Worlidge   Office: [phone] 
  Limited 
  Joint Broker 
                     -----------------------------  ---------------------------- 
 Camarco              Gordon Poole / Tom Huddart               [e-mail] 
  Financial            / Emily Hall                      Office: [phone] 
  PR Adviser                                                                4980 
                     -----------------------------  ---------------------------- 
 

About Active Energy:

Active Energy Group plc is a London quoted (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(TM) 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(TM) and a low emission CoalSwitch(TM) blend that utilises other waste materials.

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END

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August 04, 2020 02:00 ET (06:00 GMT)