Registration Statement for Securities to Be Issued in Business Combination Transactions (s-4/a)
(Alliance News) - Active Energy Group PLC on Tuesday said it has
received its first order for CoalSwitch from the reference plant at
its Lumberton site in North Carolina.
The order is from Portland, Oregon-based electric power company
The London-headquartered biomass-based renewable energy business
was awarded a new US patent for its CoalSwitch process earlier this
month, which 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
Shares in Active Energy were up 54% at 0.60 pence in London on
Active Energy said it will be supplying up to 900 tonnes of
biomass feedstock from its Lumberton site for delivery by no later
than June 14, 2021. CoalSwitch will be burnt at PacifiCorp's Hunter
Power Plant in Utah as part of the coal and biomass co-firing
demonstration being conducted by PacifiCorp.
The company said it anticipates the commissioning of the first
CoalSwitch plant in the second quarter of 2021, and that it is
currently in discussions with utility and power customers in the US
to test the CoalSwitch fuels as soon as practicable.
Chief Executive Michael Rowan said: "This is a seminal moment
for AEG as we deliver our first commercial product to a major US
based customer. 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."
By Zoe Wickens; email@example.com
Copyright 2020 Alliance News Limited. All Rights Reserved.