Active Energy Update
Alpha Prospects Plc, the investment management company listed on the GXG Exchange, focussed on companies with fast growth and/or recovery prospects, is pleased to inform shareholders of an update issued by its investee company Active Energy Group Plc (AIM: AEG.L ).
On 18 July 2014, Active Energy Group Plc, the London Stock Exchange AIM-listed international supplier of Biomass for Energy (BFE) fuel products, industrial wood chip, and forestry management and development services, announced that it had entered into an important new joint venture to exclusively commercialise in excess of 100,000 hectares (c.250,000 acres) of mature forestry assets in Alberta, Western Canada, which were expected to yield more than 20 million m(3) of commercial standing timber.
Following the formalisation of the joint venture arrangements and the establishment of the joint venture company, KAQUO Forestry and Natural Resources Development Corporation (“KAQUO”), in which the Group shall have a 45% equity interest, the Directors of AEG now expect that KAQUO will have the rights to commercialise a significantly larger hectarage than at first envisaged, and in any case not less than 200,000 hectares (c.500,000 acres) of high quality forestry in Alberta.
KAQUO and AEG are currently undertaking an extensive sampling of approximately 2% of the forestry assets, following which an updated volumetric estimate of the standing timber will be issued. The Directors of AEG expect that this exercise will be concluded within the next two months.
Company website: www.active-energy.com