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Active Energy Update

  Download PDF - 6th August 2020

Alpha Prospects Limited
("Alpha" or the "Company")

Construction and Air Permit Granted

Alpha Prospects Limited, the investment management company focussed on companies with fast growth and/or recovery prospects, is pleased to inform shareholders of an update issued by its investee company Active Energy Group Plc ('Active Energy').

“Active Energy, the international biomass based renewable energy business, is pleased to announce that the construction and air permit (the “Permit”) for the Company’s CoalSwitch™ plant at Lumberton, North Carolina (the “Lumberton Site”) has been granted by the NC Division of Air Quality. With the issuance of the Permit, Active Energy can now commence the final stage planning and construction for a CoalSwitch™ plant targeting production capacity of up to 5 tonnes per hour.

Michael Rowan, CEO, Active Energy Group, comments:

“The receipt of the Permit will transform Active Energy into a leading provider of waste to energy, second generation biomass technologies and represents the final approval required at the Lumberton Site, marking a major milestone for the Company. Active Energy can now push forward unhindered with completing the construction of an operable CoalSwitch™ plant at the Lumberton Site and provide the first working showcase of CoalSwitch™ technology. We would like to thank the NC Division of Air Quality for their ongoing support throughout this process.”

Activity at the Lumberton Site has accelerated in recent weeks as Active Energy creates a strategically located hub for lumber and next generation biomass pellet operations in the US. The granting of the Permit is the next step in Active Energy’s long term plan to develop complementary lumber and biomass activities.

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

www.aegplc.com 

The Directors are responsible for the contents of this announcement.

Company website: http://www.alphaprospectsplc.com


Enquiries:

Alpha Prospects
Christopher Foster
+44 (0) 7525 688 741

Lothbury Financial Services
Michael Padley
+44 20 3290 0707

Editors’ Note

About Alpha Prospects

The Company’s strategy is to make investments in companies with fast growth and/or recovery prospects. Typically the companies in which Alpha Prospects will invest are in the small and micro-cap sector and the Company’s interest in its investments is proactive. Currently Alpha has 11 investments.

The Directors are responsible for the contents of this announcement.