Assignment of Biomasse Italia SpA Supply Contract

RNS Number : 9115M

Active Energy Group PLC

12 May 2015

 

12 May 2015

Active Energy Group Plc
("Active Energy Group" or the "Group" or the "Company" or "AEG")

Assignment of Biomasse Italia SpA Supply Contract

Active Energy Group Plc (AIM: AEG.L), the London Stock Exchange AIM-listed international supplier of industrial wood chip for MDF manufacturing and Biomass for Energy (BFE) power generation, second-generation Biomass for Energy (BFE) fuel solutions and systems, and global forestry and natural resources development services, announces that it has assigned the balance of its contract to supply wood chip to Biomasse Italia SpA from Montenegro (as per its announcement dated 14 August 2013) to an unrelated third party.

This move is intended to allow AEG to focus its resources on its rapidly-expanding high-margin Ukrainian operations, which are now the country's largest producer and exporter of processed wood products, including wood chip for MDF manufacturing; and on its Canadian forestry and natural resources joint venture, which is developing in excess of 250,000 hectares of lands owned by the Métis Settlements of Northern Alberta.

As a result of this move, AEG will have no further revenues or costs associated with the Biomasse Italia supply contract.

The Company is presenting at the new Ukraine 2015 Investment Conference in Kiev this week, and will announce details of its presentation by RNS beforehand.

- ENDS -

NOTES TO EDITORS & CONTACT INFORMATION

ABOUT ACTIVE ENERGY GROUP PLC:

Active Energy Group Plc is a London Stock Exchange AIM-listed company (AIM: AEG.L).  Headquartered in the UK, it is a fast-expanding international business, experiencing strong growth and diversification since the current management team assumed responsibility in mid-2012.

The Group has considerable expertise across the entire timber industry supply chain - from forest to finished product. 

Its four specialist business divisions, which reflect its knowledge and experience, are focussed on providing products and services to specific global market sectors:

·   Forestry & Natural Resources Development and Management

·   Wood Chip for Medium-Density Fibreboard (MDF) Manufacturing

·   Wood Chip for Biomass for Energy (BFE) Power Generation

·   Second Generation Biomass for Energy (BFE) Fuel Solutions and Systems

Active Energy Group Plc operates from four international locations:

·   Ukraine, where it is the largest producer and exporter of wood chip for MDF manufacturing.

·   United Kingdom, where it operates a research & development facility for new BFE fuel technologies.

·   Spain, from where it sources finished wood chip for export to international customers.

·   Canada, where it has entered into a landmark joint venture - KAQUO Forestry & Natural Resources Development Corporation - with several indigenous Métis Settlements to commercialise in excess of 250,000 hectares of their lands, containing valuable forests and natural resources, including oil and gas reserves.

Ukraine and Canada, with their large forestry reserves and comprehensive road, rail and sea transport links, are ideal locations from which to source raw timber and manufacture wood chip and fuel pellets for supply to MDF producers and Biomass power plants.

In addition to its existing activities, the Group is actively developing innovative Biomass fuel solutions, converting waste wood and industrial/agricultural by-products into feedstock for clean energy power generation as a direct replacement for coal.

Active Energy Group Plc is led by a highly experienced and dedicated management team with a proven track record in the industries and regions in which it operates and from which its revenues are generated. 

The Company has grown significantly in recent years, and has established a firm foundation, excellent reputation and international customer base upon which to build for the future.

COMPANY WEBSITE:

www.active-energy.com

ENQUIRIES:

Active Energy Group Plc
Richard Spinks, Chief Executive Officer              [e-mail]           Intl.: [phone]
                                                                                                                                                                 Ukraine: [phone]

Mark Broomer, Corporate Communications    [e-mail]         Intl.: [phone]
                                                                                                                                                                 UK: [phone]

6 Hillgrove Public Relations
Richard Hillgrove                                                     [e-mail]             Office: [phone]
                                                                                                                                                                 Mobile: [phone]

John Price                                                                   [e-mail]                         Office: [phone]
                                                                                                                                                                 Mobile: [phone]

WH Ireland Ltd. (Nominated Adviser and Broker)                                                    
Chris Fielding/Mark Leonard                                                                                                            Office: [phone]

 

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