Active Energy Group (AEG)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM All-Share

 0.35p
   
  • Change Today:
      0.000p
  • 52 Week High: 7.35
  • 52 Week Low: 0.31
  • Currency: UK Pounds
  • Shares Issued: 161.86m
  • Volume: 77,994
  • Market Cap: £0.57m

Active Energy shares soar as it receives first CoalSwitch order

By Josh White

Date: Tuesday 22 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Biomass-based renewable energy and forestry management company Active Energy has received its first order for its 'CoalSwitch' product from its reference plant at the Lumberton site in North Carolina, it announced on Tuesday.
The AIM-traded firm said the order was from PacifiCorp - the largest grid operator in the western United States, which serves the energy demands of 1.9 million customers.

It said CoalSwitch would be burned at PacifiCorp's Hunter Power Plant in Utah, as part of the coal and biomass co-firing demonstration being conducted by PacifiCorp.

Active Energy said it would be supplying up to 900 tonnes of biomass feedstock from its Lumberton site for delivery by 14 June 2021.

All the feedstock used for the biomass would be sourced locally within North Carolina, and processed by using residual wood, including bark, and treetops and branches.

The board said the commitment formed part of Active Energy's strategy to produce a biomass solution including waste materials from the lumber industry.

Following its announcement on 3 December, work on the CoalSwitch plant continued to progress, with construction activity set to increase early in the new year.

Active Energy and Player Design expected the commissioning of the first CoalSwitch plant in the second quarter of 2021.

Additionally, Active Energy said it was currently in discussions with a number of other prospective utility and power customers in the United States to test the CoalSwitch fuels as soon as possible.

"This is a seminal moment for Active Energy as we deliver our first commercial product to a major US-based customer," said chief executive officer Michael Rowan.

"We are on track with our business plan and we are working at great pace to commission the Plant and fulfil the interest for the CoalSwitch product.

"We are also pleased to confirm that the order will also be fulfilled using waste materials as a key component of the next generation biomass fuels and which will be a core value of Active Energy's future biomass goals."

At 1453 GMT, shares in Active Energy Group were up 76.92% at 0.69p.

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AEG Market Data

Currency UK Pounds
Share Price 0.35p
Change Today 0.000p
% Change 0.00 %
52 Week High 7.35
52 Week Low 0.31
Volume 77,994
Shares Issued 161.86m
Market Cap £0.57m

AEG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.21% above the market average76.21% above the market average76.21% above the market average76.21% above the market average76.21% above the market average
35.29% above the sector average35.29% above the sector average35.29% above the sector average35.29% above the sector average35.29% above the sector average
Price Trend
98.51% below the market average98.51% below the market average98.51% below the market average98.51% below the market average98.51% below the market average
89.74% below the sector average89.74% below the sector average89.74% below the sector average89.74% below the sector average89.74% below the sector average
Income Not Available
Growth Not Available

AEG Dividends

No dividends found

Trades for 17-Apr-2024

Time Volume / Share Price
11:18 12,374 @ 0.31p
11:00 875 @ 0.40p
10:11 64,705 @ 0.31p
10:00 40 @ 0.40p

AEG Key Personnel

CEO Michael Rowan

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