TIDMAEG
RNS Number : 4883H
Active Energy Group PLC
13 March 2018
Active Energy Group Plc / EPIC: AEG / Sector: Alternative
Energy
13 March 2018
Active Energy Group Plc ('Active Energy', the 'Company' or the
'Group')
Joint Venture Signed with Cobant Sp. z o.o. to Commercialise
CoalSwitch(TM) in Poland
Active Energy, the London quoted international biomass based
renewable energy and forestry management business, is pleased to
announce that it has signed a joint venture agreement (the "Joint
Venture" or "JVA") with Cobant Sp. z o.o. ('Cobant'), a Polish
research, development and coal recovery/production company active
in the land reclamation, environmental services and energy sectors,
to explore opportunities to commercialise the Company's unique
CoalSwitch(TM) coal additive in blends with reclaimed coal from
coal slurry dumps in Upper Silesia, Poland.
Overview
-- JVA signed with one of Poland's leading energy sector
research and development companies following recent testing of the
Company's unique CoalSwitch(TM) coal additive in blends with
reclaimed coal from coal slurry waste dumps, located in Upper
Silesia, Poland;
-- Detailed and varied tests demonstrated outperformance by
CoalSwitch(TM) over all other options tested by Cobant over the
past three years, in various concentrations, 15% CoalSwitch / 85%
Bytom (a city in southern Poland) coal being the most efficient and
allowing for zero chemical binder requirement on reclaimed coal
fines reconstitution;
-- Objective to produce a new 'Super Fuel' product, utilising a
CoalSwitch(TM) component, produced from sawmill waste and forestry
residue, combined together with reclaimed and cleaned coal fines
from Upper Silesias' many historical coal waste dumps, processed
through Cobant's own patented coal waste reclamation technology;
and
-- Intention to roll out product to other coal-fired power
plants and for household use, initially in Poland, although
significant opportunity is recognised across the CEE and EU member
countries where residual coal waste can also be found adjacent to
coal-fired power plants.
Richard Spinks, Active Energy Chief Executive Officer said,
"Poland's coal industry lies at the centre of the Polish identity,
however it is considered to be one of the most polluting coal
burning countries in Europe. Recently, much has been made of claims
that Poland's coal power pollution is negatively affecting its
neighbours across the European Union. The Group's objective with
this JVA with Cobant is to support this significant industry and
regional employer in its efforts to meet its emissions targets and
clean air requirements, whilst finding a use for their legacy and
arising coal waste in a 'Super Fuel' blend. Both Active Energy and
Cobant believe this can be achieved by reconfiguring the feedstock
of coal power plants to maximise output and enabling power plant
operators to achieve their green credentials, whilst beating the
mandated emission reduction targets set out by the European Union
for 2020 and targeting the more ambitious targets for 2030.
"Our recent conversations with power plant operators and
government agencies in Poland have demonstrated all parties'
eagerness to adopt cleaner energy protocols. As such, I look
forward to providing further updates regarding the JVA as
appropriate."
Pawel Woszczyk, Cobant Sp. z o.o. Chief Executive Officer said,
"Our cooperation enables the opportunity to use waste coal
accumulated in the coal slurry waste dumps to become valuable
feedstock, and this should offer a real alternative for the power
industry in Poland and throughout Europe. Poland is historically
bound to coal so it is a complete reversal and refocus on new fuel
sources would be extremely difficult to implement. However, new
generation coal fuels similar to the one we have developed together
with Active Energy, creates a solution to this "Gordian Knot" by
offering new "Super Fuel" which is innovatively formed between coal
and biomass. This has significant implications for the economy and
the environmentally friendly use of coal in Poland, including
significantly reducing smog.
"The timing for introduction of this new "Super Fuel' in Poland
is beneficial. New legislation is being prepared by the Polish
government banning usage of low quality solid fuels for individual
use. We predict a significant market opportunity in traditional
coal uses in Poland with the introduction of our new "Super Fuel"
based on our own local coal resources processed and enriched by
CoalSwitch(TM)."
Further Information
Active Energy has entered into the Joint Venture with Cobant in
order to evaluate the Company's CoalSwitch(TM) coal additive in
blends with reclaimed coal from waste dumps in Upper Silesia,
Poland.
CoalSwitch(TM) is Active Energy's revolutionary direct drop-in
coal replacement biomass fuel that can be mixed in any ratio with
coal fines or completely replace coal in existing coal-fired power
stations, without retrofit. The Group believes CoalSwitch(TM) has
the potential to act globally not only as an emissions reductant,
but as a sulphur capture and reduction compound. In addition,
chemical binders, which have traditionally been used in the global
reclaimed coal reclamation sector, are no longer required when
utilising CoalSwitch(TM) pellets. Moreover, some additional savings
are possible for power plant operators, as usage of this new
alternative coal fuel does not require such intensive
desulphurisation and the fuel has lower ash content.
A series of tests were conducted between October 2017 and
February 2018, whereby CoalSwitch(TM) was fired together with
blends of coal fines, the results of which exceeded the
expectations of both Active Energy's and Cobant's management
teams.
Following these tests, a number of further tests are continuing
with partners and government agencies, results of which will be
announced once received.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
**ENDS**
Enquiries & Further Information:
Website LinkedIn
---------------------- --------------------------------------
www.active-energy.com www.linkedin.com/company/activeenergy
www.aeg-plc.com
---------------------- --------------------------------------
Enquiries
----------------------------------------------------------------------------
Active Energy Michael Rowan michael.rowan@aegplc.com
Group Plc Executive Chairman
------------------- ------------------------- ----------------------------
Richard Spinks richard.spinks@aegplc.com
Chief Executive Officer
------------------- ------------------------- ----------------------------
Northland Capital David Hignell / Gerry Office: +44 (0)20
Partners Limited Beaney 3861 6625
Nominated Adviser
------------------- ------------------------- ----------------------------
Optiva Securities Graeme Dickson / Ed Office: +44 (0)20
Ltd Broker McDermott 3137 1902
------------------- ------------------------- ----------------------------
St Brides Partners Susie Geliher / Isabel info@stbridespartners.co.uk
Financial PR de Salis Office: +44 (0)
Adviser 20 7236 1177
------------------- ------------------------- ----------------------------
About Active Energy Group:
Active Energy Group Plc (AIM: AEG.L) is a London Stock
Exchange-listed international renewable energy business based upon
forestry assets. Its model is focussed on capturing the entire
forestry value chain through sourcing, utilising and
commercialising assets, and setting a new standard in the
sustainable management and optimisation of timber resources.
The Company is led by a highly technical and commercial team
with the experience to execute its defined growth strategy and
build its visibility, primarily as a London-listed timber
opportunity with a revolutionary biomass fuel technology.
About Cobant:
Cobant has been operating since 2014 carrying out research and
development using modern research methods and techniques. In these
activities Cobant has developed and tested prototype installation
allowing in-field verification of developed innovative technology
allowing recovery of high quality coal from coal waste slurries
deposited around Poland. Cobant has focused on the Upper Silesian
region, where the EU mandates the clean-up of brownfield coal waste
sites.
Cobant provides comprehensive support for strategic stages of
development, establishing cooperation within the academic commnuity
and scientific institutions and has two laboratories which will be
utilised by JVA company, in Silesia. One of which is located at the
Silesia Polytechnical University in Slask, Poland.
The scope of Cobant's activities also includes the development
of effective strategy, creation of innovations, implementation of
revolutionary solutions and commercialisation of knowledge gained
with a focus on the coal mining and coal-fired power industries of
Poland and the CEE.
The Cobant team consists of a dozen of Poland's leading experts
from academia and industry with decades of experience in this
sector in addition to relationships and experience of working with
the Polish coal industry and coal-fired power operators for many
years.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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