AEG Aegon Ltd

Active Energy Group (AIM:AEG), producer of CoalSwitchTM, a new clean energy pellet, has achieved Chain of Custody (CoC) and Controlled Wood certifications that are compliant with Forest Stewardship Council® (FSC) standards for its CoalSwitch fuel. This new designation is part of AEG’s continuing commitment to sustainability across its entire business model, from supply chain to production to the impact of the fuel itself.

The process of attaining this FSC certification has included rigorous audits by the independent accredited certification body SCS Global Services. These audits examine the full CoalSwitch production process, encompassing the entire supply chain from feedstock source to final production of fuel. Active Energy’s certification to these FSC standards confirms that the production of CoalSwitch will use forest-based materials from responsible sources and that the Company’s suppliers have committed to the strictest standards currently governing forest management.

The FSC certification is the basic market prerequisite to permit biomass products to be sold into many of Active Energy’s target markets. Certification to FSC represents a significant milestone and allows the Company to engage with a wider range of prospective customers who share Active Energy’s commitment to sustainability. While not a legislative requirement in many jurisdictions, a number of prospective customers have indicated that FSC certification will support their corporate Environmental, Social and Governance (ESG) agendas, enhancing the prospect of future orders.

This new certification comes on the heels of independent testing of CoalSwitch which found that AEG’s CoalSwitch fuel reduces pollutants including ash, nitrogen oxide and sulfur dioxide when co-fired with coal and in terms of energy values outperforms existing biomass-based “white” pellets. The testing was conducted in late 2021 in Utah by Brigham Young University, Rocky Mountain Power (a subsidiary of PacifiCorp), the University of Utah, Chalmers University of Technology and Reaction Engineering International. as part of the STEP program.

“The FSC certification is a measure of our commitment to sustainability across our entire business model and demonstrates confidence in our supply chain for our prospective customers both in North America and internationally,” said Michael Rowan, CEO of Active Energy Group. “Not only has CoalSwitch been shown to be a more sustainable option compared to coal when it burns, but now we can show that the original source of the fuel itself is sustainable. The FSC designation is a major pre-requisite to future sales contracts and we are excited at the prospect to demonstrate all the environmental benefits of our CoalSwitch fuel.”

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 waste biomass into renewable energy.  Its patented product CoalSwitch™ is a leading drop-in biomass feedstock that can co-fire with coal or replace up to 100 percent of the coal in power stations without requiring plant modification. The company is developing commercial production facilities in Lumberton, North Carolina and Ashland, Maine which will supply power and utility customers, including the pilot program at PacifiCorp’s Hunter Power Plant in Utah. More information is available at www.aegplc.com.

About FSC

The Forest Stewardship Council (“FSC”) is an independent, not for profit, nongovernmental organization established to support environmentally appropriate, socially beneficial, and economically viable management of the world's forests. FSC chain of custody certification provides a credible assurance that products which are sold with an FSC claim originate from well-managed forests, controlled sources, or reclaimed materials.

FSC License Code: FSC-C175386

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/35df328c-40b1-437b-b57c-a4d9c2bbd21a

Media Relations Contact
John Williams, Scoville PR for AEG
206-660-5503, jwilliams@scovillepr.com