First production of CoalSwitch™ at the Ashland Facility
Alpha Prospects Limited, the investment management company 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 (‘Active Energy’, ‘AEG’, ‘the Company’).
“Active Energy, the London quoted international biomass based renewable energy business, is pleased to announce that production of CoalSwitchTM has commenced at the Company’s facility located at Ashland, Maine (the “Ashland Facility”), following the rapid construction of the 5 tonne per hour production facility.
Deliveries of the first CoalSwitch™ fuel to PacfiCorp’s Hunter Valley power plant will commence during this week for use in their testing programme which has been scheduled for the week commencing 14 June 2021. The CoalSwitchTM production by the Ashland Facility is part of the joint venture (the “JV”) between AEG and Player Design Inc, details of which were announced on 20 May 2021.
The Ashland Facility has been granted an initial permit (the “Permit”) for the production of 1,000 tons of CoalSwitch™, to be produced by no later than 31 July 2021. Emissions data from the initial production will be supplied to the State of Maine for their analysis. The JV will then apply to the State of Maine to extend the terms of the Permit to enable the Ashland Facility to expand its production to up to 35,000 tonnes of CoalSwitch™ per year.
Michael Rowan, CEO, Active Energy Group:
“We are delighted to have successfully commissioned the Ashland Facility and to have begun production of CoalSwitch™. This is part of AEG’s plan to have two operational CoalSwitch™ plants on the east coast of the US during 2021. I would like to thank all involved for their support in recent weeks, notably the State of Maine and the engineering team at Player Design. We will now proceed to deliver CoalSwitch™ to PacifiCorp on time and accelerate the CoalSwitch™ fuel testing programme.”
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.”