Issuance of Notice by NCDEQ

RNS Number : 8498X

Active Energy Group PLC

07 May 2021

 

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

May 7, 2021

Active Energy Group Plc

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

Issuance of Notice by North Carolina Department of Environmental Quality

The Directors of Active Energy, the London quoted international biomass based renewable energy business, announce that the Company received a Notice of Violation ("Notice") issued by the North Carolina Department of Environmental Quality ('NCDEQ') on 6 May 2021.

During construction, additional control devices to enhance emissions reductions from the Lumberton CoalSwitch^TM plant (the "Plant") have been installed by the Company. The additions were notified by the Company to NCDEQ, who acknowledge the additions as improvements to the Plant's construction, however any modifications require an amendment to the Company's existing air quality permit. The Company's representatives in North Carolina have already submitted a permit modification application and are in communication with the NCDEQ.

The addition of control devices reflects AEG's commitment to operate the Plant to the highest standards and the Company will continue to work closely with the North Carolina agencies who regulate it to comply with permitting and notice requests. AEG ceased construction on the relevant control devices, as required, and will reply to the Notice in the normal course.

Michael Rowan, CEO, Active Energy Group, comments:

"Activity at Lumberton has continued for many months and the Plant is nearing completion. NCDEQ has already acknowledged that the additional control devices further reduce emissions, and we are confident that the permit modification, which has already been submitted to NCDEQ prior to the Notice being issued, will be processed in short order.  The Company is confident it will meet its existing sales commitments."

Regulatory Information

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

ENDS

Enquiries
Active Energy Group Plc	Michael Rowan Chief Executive Officer Andrew Diamond Chief Financial Officer	[e-mail]
SP Angel Corporate Finance LLP Nominated Adviser and Joint Broker	David Hignell / Caroline Rowe	Office: [phone]
Allenby Capital Limited Joint Broker	Nick Naylor/James Reeve (Corporate Finance) Amrit Nahal (Sales/Corporate Broking)	Office: [phone]
Camarco Financial PR Adviser	Gordon Poole / Tom Huddart / Emily Hall	[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 a low emission CoalSwitch™ blend that utilises timber residuals and other waste materials.

 

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