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Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy
7th February 2020
Active Energy Group Plc
('Active Energy', 'AEG' or the 'Company')
Update on Permit for the Lumberton Site
Completion of Review by North Carolina Department of Environment and Natural Resources
Active Energy, the London quoted international biomass based renewable energy business, is pleased to announce an update regarding current activities at the Company's Lumberton site in North Carolina ('Lumberton' or the 'Lumberton Site').
Highlights:
· Completion of internal review by North Carolina Department of Environment and Natural Resources, Department of Air Quality ('NCDAQ') with regard to the issuance of relevant construction and air permit for the 5 tonne per hour plant at Lumberton (the 'Permit').
· In accordance with industry practices, with existing pellet mills in North Carolina, NCDAQ has requested that a public information meeting must be held prior to the issuance of the Permit. A meeting will be convened within the next month.
· Subject to any conditions within the Permit, AEG expects construction of the plant to commence once the Permit is granted.
Construction of CoalSwitch™ production Facilities at Lumberton
The Company continues to progress its operations at its commercial hub at the Lumberton Site, to facilitate the commercial production of CoalSwitch™ and second-generation biomass pellets. During the last 90 days, NCDAQ has reviewed AEG's application for the Permit and has confirmed no further information is required by the administration regarding this project. As a further and final stage of the permitting process, in accordance with industry practices, NCDAQ has requested a public information meeting to be held prior to issuance of the Permit. The date and venue of the meeting will be communicated by NCDAQ shortly. Given the 30 day notice required for public comments, AEG expects the meeting to be held during March.
AEG continues to undertake engineering analysis for the 5 tonne per hour CoalSwitch™ plant and the Company's management teams are working to secure offtake agreements, both in the US and internationally. Supplementary analysis on the development of ancillary products where CoalSwitch™ is blended with waste materials to produce a biomass-based black pellet fuel is also ongoing.
AEG, CEO, Michael Rowan said, 'This is the first occasion where the CoalSwitch™ production process has been analysed by relevant environmental authorities. I am pleased with the initial conclusions of the Department of Air Quality in North Carolina. AEG welcomes the opportunity to present its plans for the Lumberton Site at a public meeting to demonstrate not only the environmental advantages AEG's black pellets have against existing white pellet production, but also the sustainable production processes that AEG intends to introduce at Lumberton.'Robeson County Manager, Kellie Blue said, 'North Carolina and Robeson County are committed to a sustainable future and welcome businesses with environmental goals, like AEG. We look forward to supporting AEG, its activities at the Lumberton Site and AEG's aim of transforming residual biomass material into high-value carbon neutral fuels for the power industry. We continue to support AEG through the final stages of the Permit approval process.'
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
ENDS
Enquiries:
Website | ||
www.aegplc.com | www.linkedin.com/company/activeenergy |
Enquiries | ||
Active Energy Group Plc | Michael Rowan Chief Executive Officer Antonio Esposito Chief Operations Officer | |
SP Angel Corporate Finance LLP Nominated Adviser and Broker | David Hignell / Caroline Rowe | Office: +44 (0)20 3470 0470 |
Camarco Financial PR Adviser | Gordon Poole / Tom Huddart / Emily Hall | aeg@camarco.co.uk Office: +44 (0) 20 3757 4980 |
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 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™ and SuperFuel™, a low emission CoalSwitch™ blend that utilises waste coal fines.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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Update on Permit for the Lumberton Site - RNS
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Active Energy Group plc published this content on 07 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2020 07:07:09 UTC
