LONDON (ShareCast) - Ukrainian biomass supplier Active Energy has won a major contract with green energy generator Biomasse Italia, lifting its shares by a quarter.

Active, which supplies woodchip and related timber products to biomass power generators, said it will ship at least 240,000 tonnes of biomass from its Black Sea deep water port operations over two years starting on January 1st 2014.

Founded in 1997, Biomasse Italia is based near Naples and, through its two power stations in Crotone and Strongoli in south east Italy, produces up to 500 gigawatts per hour with an annual demand for biomass of about 700,000 tonnes.

Active's Chief Executive Richard Spinks said: "The energy industry is experiencing great pressure across Europe, with tightening supply of wood chip and forestry products in general, particularly in the EU. We are ideally positioned to exploit this opportunity."

Shares rose 25% or 0.62p to 3.12p by 10:57 in London.

PW

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