Alpha Prospects Limited

Active Energy Update
September 2, 2021

First CoalSwitchTM pellet analysis from University of New Brunswick, Canada confirms premier qualitie

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 announces that it has received the first independent analysis of the CoalSwitchTM pellets produced at the Ashland facility in June 2021. The pellet analysis was conducted by the Wood Science and Technology Centre at the University of New Brunswick, which Active Energy has engaged to analyse its next generation biomass fuel: CoalSwitchTM. The results of this first analysis confirm CoalSwitchTM’s superior qualities to white pellets as well as its suitability as a sustainable substitute for carbon emitting fuels.

The CoalSwitchTM pellets were produced from waste wood located in the vicinity of Ashland, Maine. The pellets were analysed for their proprietary qualities, namely the quality of the pellet produced from the Ashland facility, its heating value and organic elemental analysis in a laboratory environment.

The results from the first analysis are as follows:

  • CoalSwitchTM pellets were produced to industry standard size and met the initial hydrophobic tests set by the Pellet Fuels Institute;
  • CoalSwitchTM pellets produced from Ashland had a bulk density of 42.17 lb/ft3 (or 672 kg/m3) – a substantial premium to existing white pellets;
  • CoalSwitchTM pellets when burned produced less ash (circa 3% inorganic ash) – a significant reduction to customary ash content for coal at circa 11% ash content;
  • CoalSwitchTM pellets in the elemental analysis contained circa 55% carbon and less than 0.5% sulphur content – a significant improvement from white pellet.
  • CoalSwitchTM pellets had an increased heating value over white pellet, namely 10,042 btu/lb (with the potential for even greater heating value yields by reducing the moisture content which was attained during first production);

Max Aitken, Active Energy Non-Executive Director, said:
“We are extremely encouraged by this initial analysis of our CoalSwitchTM product produced at our Ashland facility. The results validate that CoalSwitchTM can be used as an efficient replacement for carbon emitting fuels, and that it burns more effectively than other equivalent fuels such as white pellet. We thank the University of New Brunswick and look forward to supplying more fuel in the coming weeks in order to progress these tests further.”

Dr. Chen Huang, Research Scientist, Wood Science & Technology Centre, University of New Brunswick, said:
“We are excited to be working with Active Energy in the development of next generation biomass fuels. Initial test results demonstrate CoalSwitchTM as an improvement over existing white pellet currently available in the market and we look forward to continuing the testing program over the coming months.”

This initial analysis will be replicated by UNB in the coming weeks with completed production from the Ashland Facility for additional emissions analysis.

Update on Ashland Facility
Further to the announcement on 9 August 2021, the Company continues to undertake a detailed assessment of the Facility. The Company anticipates that the assessment will be concluded in the next couple of weeks and a full update will be provided to shareholders later in September. The Company continues to have stores of CoalSwitchTM at Ashland to meet prospective customer enquiries.

Regulatory information
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.”



Alpha Prospects
Christopher Foster
+44 (0) 7525 688 741

Lothbury Financial Services
Michael Padley
+44 20 3290 0707

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