ALPHA PROSPECTS PLC
(“Alpha” or the “Company”)
Active Energy Assigns Biomasse Italia SpA Contract
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):
“Active Energy Group Plc, the AIM-listed international supplier of industrial wood chip for MDF manufacturing and Biomass for Energy (BFE) power generation, second-generation Biomass for Energy (BFE) fuel solutions and systems, and global forestry and natural resources development services, has assigned the balance of its contract to supply wood chip to Biomasse Italia SpA from Montenegro (as per its announcement dated 14 August 2013) to an unrelated third party.
This move is intended to allow AEG to focus its resources on its rapidly-expanding high-margin Ukrainian operations, which are now the country’s largest producer and exporter of processed wood products, including wood chip for MDF manufacturing; and on its Canadian forestry and natural resources joint venture, which is developing in excess of 250,000 hectares of lands owned by the Metis Settlements of Northern Alberta.
As a result of this move, AEG will have no further revenues or costs associated with the Biomasse Italia supply contract.
The Company is presenting at the new Ukraine 2015 Investment Conference in Kiev this week, and will announce details of its presentation by RNS beforehand.”
Active Energy Group Plc is led by a highly experienced and dedicated management team with a proven track record in the industries and regions in which it operates and from which its revenues are generated.
The Company has grown significantly in recent years, and has established a firm foundation, excellent reputation and international customer base upon which to build for the future.