Award of Canadian Patent for CoalSwitch™
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 international biomass based renewable energy business, is pleased to announce the award of Canadian Patent No. 2,999,447 (the “Canadian Patent’) by the Canadian Patent Office in respect of the process for beneficiating and cleaning biomass. The Canadian Patent award completes the process of the Notice of Allowance, which was previously issued to the Company on 9 June 2021. The Canadian Patent ensures that Active Energy holds the proprietary rights for the CoalSwitch™ manufacturing process throughout Canada for 20 years from the date of filing (being 27 March 2018).
The Canadian Patent combines with the patents awarded in the United States to Active Energy in 2020 for the CoalSwitch™ manufacturing technologies. The Company continues to file further patent applications in the United States, South-East Asia and Europe as the CoalSwitch™ manufacturing processes develop.
Michael Rowan, CEO of Active Energy, commented:
“The receipt of the Canadian Patent for beneficiating and cleaning biomass is another significant step forward for Active Energy and we are actively developing our patent portfolio for the CoalSwitch™ manufacturing processes globally. The patent portfolio is rapidly evolving as the designs for larger scale production facilities progress.
“We are seeing increasing momentum in our sales and marketing activities throughout the USA, Canada and Japan and this patent confirmation will further assist these activities. We are also receiving positive feedback on CoalSwitch™ test analysis currently being undertaken by a number of potential clients. These tests are being conducted on CoalSwitch™ fuel produced at Ashland, Maine during Q2 and Q3 of 2021.”
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.