Completion of Lumberton Acquisition

RNS Number : 0897U

Active Energy Group PLC

27 March 2019

 

Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy

27 March 2019

Active Energy Group Plc ('Active Energy', 'AEG'or the 'Company')

Completion of Lumberton Site Acquisition

Active Energy, the London quoted renewable energy and forestry management business focussed on biomass, is pleased to announce that further to the Company's announcement of 4 March 2019, the outstanding condition relating to the acquisition of the industrial site in Lumberton, North Carolina (the "Acquisition") has now been satisfied. As such, following the satisfactory review and acceptance of all inspections and titles, as well as appropriate re-zoning for its recognised industrial uses, the Acquisition has completed. 

The Lumberton site will become the new base for all AEG's CoalSwitch™ operations in the US and house the first permanent production facility for CoalSwitch™.  

The Company's Directors look forward to providing further updates regarding the development of the Lumberton site and the installation of the initial CoalSwitch™ plant as appropriate.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

**ENDS**

Enquiries& Further Information:

Website	LinkedIn
www.aegplc.com	www.linkedin.com/company/activeenergy

Enquiries
Active Energy Group Plc	Michael Rowan Chief Executive Officer (Active Energy) Antonio Esposito Chief Operations Officer (Active Energy)
SP Angel Corporate Finance LLP Nominated Adviser and Joint Broker	David Hignell / Lindsay Mair / Jamie Spotswood	Office: [phone]
Optiva Securities Ltd Joint Broker	Jeremy King	Office: [phone]
St Brides Partners Financial PR Adviser	Melissa Hancock / Gaby Jenner	[e-mail] Office: [phone]

About Active Energy Group:

Active Energy Group plc is a London listed (AIM: AEG) renewable energy company that has developed a proprietary technology which transforms low-cost biomass material into high-value green fuels.  Its patented product CoalSwitch™ is the world's only drop-in biomass fuel that can be mixed at any ratio with coal or completely replace coal in existing coal-fired power stations without requiring plant modification.

Active Energy Group's immediate strategic focus is the production and commercialisation of CoalSwitch™ and SuperFuel™, a low emission CoalSwitch™ blend that utilises waste coal fines. 

 

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