LONDON (ShareCast) - (Sharecast News) - AIM-quoted renewable energy outfit Active Energy has entered into a joint venture agreement with Georgia Renewable Power that will see the pair install CoalSwitch facilities across the US.
Under the agreement, Active Energy will install manufacturing facilities for its biomass-based fuel that utilises low-value forestry and agricultural residues at all three of Georgia Renewable's biomass-to-energy power plants in North Carolina and Georgia.

The pair aims to have commercial production facilities installed and ready to go by the end of the fourth quarter and will also work together on "a number of additional projects", including Active's LitterSwitch and PeatSwitch technologies for complementary sales of biomass.

Chief executive Michael Rowan, said: "This is an important development for Active Energy, which we believe will result in a significant increase in CoalSwitch and PeatSwitch production capacity in the US, the diversification of AEG's activities in terms of both geography and feedstock, and additional revenue streams through biomass trading."

As of 0900 BST, Active Energy shares had warmed up 12.63% to 2.14p.

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