Alpha Prospects Limited
(“Alpha” or the “Company”)
Update re Revolutionary CoalSwitch™ Plant
Alpha Prospects Limited, the investment management company focussed on innovative energy companies, is pleased to inform shareholders of an update issued by its investee company Active Energy Group Plc:
“Active Energy, the London quoted international biomass based renewable energy and forestry management business, is pleased to announce an update on its first CoalSwitch™ plant in Utah, United States (‘the Plant’), which is set to deliver commercial quantities of the world’s first ‘drop-in’ biomass fuel that can be mixed in any ratio with coal or completely replace coal in existing coal-fired power stations globally.
To view the press release with images please use the following link: Press Release
Highlights
- Construction of the first five-tonne-per-hour CoalSwitch™ plant will be completed in December 2017 followed by full commissioning and revenue generation thereafter
- The plant will importantly demonstrate that the CoalSwitch™ technology can be scaled to full commercial production and reinforce that the proven science developed represents a disruptive force in the global biomass industry
- Design on a modular basis allows further scale-up to any plant size and volume of production based on multiple modules of 5 tonnes-per-hour
- Plant constructed as a demountable containerised system, enabling it to be relocated globally to capitalise on any available feedstock opportunity
- CoalSwitch™ is a unique, high-calorific value advanced biomass pellet, that has all the characteristics of coal but with environmentally friendly/lower emissions
- The CoalSwitch™ system has been tested and proven to efficiently convert multiple types of biomass and forestry waste and residuals; including sawmill and pulp mill by-products into a high energy and bulk density fuel products which are in demand globally
- Strong commercial interest already received for plants from governments and corporates in North America, Asia and Europe
- Construction of the next plant is planned to commence upon completion of post-commissioning tests of initial plant
Brian Evans-Jones, Active Energy and ABS Director said,
“This is a landmark occasion for AEG and represents the advent of the commercialisation of CoalSwitch™, our ground-breaking and world beating ‘drop in’ biomass coal replacement fuel. The completion of the plant construction in Utah and commissioning, enables us to commence scalable commercial operations of the CoalSwitch™ technology and generate revenues. The international interest in CoalSwitch™ has been extremely encouraging and we have made excellent progress in developing feedstock and off-take agreements for the product in recent months. “
“We are confident that CoalSwitch™ represents a revolutionary force within the market and look forward to providing further updates to our shareholders regarding our progress in commercialising this incredible opportunity. “
The Plant will provide sufficient CoalSwitch™ fuel to satisfy existing early-stage demand in Utah for a period and for commercial (paid for) burn testing at full-scale power utility plants. Thereafter, the Plant will be relocated to one of several potential destinations where premises, long-term feedstock and CoalSwitch™ off-takers will be in place ready for the commencement of operations. Construction of the next several plants is planned to commence in H1 2018 upon completion of post-commissioning tests of this initial plant.
CoalSwitch™, which is currently managed and operated by AEG’s affiliate company, Advanced Biomass Solutions Plc (‘ABS’), is a unique, high-calorific, high bulk density, advanced biomass pellet behaving in the logistics and generating plants of utilities just like coal, albeit with all the environmental benefits of clean biomass; produced primarily from forestry waste and other industrial cellulose waste products.
Unlike the current ubiquitous white pellets and other Advanced Pellets, CoalSwitch™ can be mixed at any ratio with coal or completely replace coal in existing unmodified coal-fired power plants allowing ‘dirty’ plant operators to fulfil their environmental obligations without the need for extensive retrofitting of power station plant and handling/storage infrastructure.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
