Active Energy Group PLC Re Joint Venture (4292Z)
September 17 2015 - 10:38AM
UK Regulatory
TIDMAEG
RNS Number : 4292Z
Active Energy Group PLC
17 September 2015
17 September 2015
Active Energy Group Plc
("Active Energy Group" or the "Group" or the "Company" or
"AEG")
Update on KAQUO Forestry & Natural Resources Development
Corporation ('KAQUO') Canadian Joint Venture
Active Energy Group Plc (AIM: AEG.L), the London Stock Exchange
AIM-quoted international supplier of wood fibre products for MDF
manufacturing, global forestry and natural resources development
services, and Biomass for Energy (BFE) coal replacement fuel
solutions and processing systems, announces that, further to its
announcement dated 31 July 2015, it has been advised by the three
Métis Settlements partners in the Group's KAQUO joint venture that
they have received the findings of the Alberta Ministry of
Aboriginal Relations investigation into the Métis Settlements
handling of their participation in the joint venture.
The Métis Settlements have informed AEG that they have received
Ministerial Order MSA-01/2015, which specifies certain conditions
to be fulfilled, after which the joint venture can proceed. The
Company is consulting with its Métis partners on those conditions,
none of which it believes to be material, to formulate a strategy
that will enable forestry operations to commence in January
2016.
A further announcement will be made in due course.
- ENDS -
NOTES TO EDITORS & CONTACT INFORMATION
ABOUT ACTIVE ENERGY GROUP PLC:
Active Energy Group Plc is a London Stock Exchange AIM-quoted
company (AIM: AEG.L). Headquartered in the UK, it is a
fast-expanding international business that has experienced
exceptionally strong growth and diversification into complementary
industry sectors since the current management team assumed
responsibility in mid-2012.
The Group has considerable expertise across the entire timber
industry supply chain - from forest to finished product.
Its three specialist business divisions, which reflect its
knowledge and experience and which work together to maximise
commercial opportunities, are focussed on providing products and
services to specific global market sectors:
-- Forestry & Natural Resources Development and Management
-- Wood Fibre Products for Medium-Density Fibreboard (MDF) Manufacturing
-- Advanced Biomass for Energy (BFE) Fuel Solutions and Processing Systems
Active Energy Group Plc operates from four international
locations:
-- Ukraine, where it is the largest producer and exporter of
wood fibre for the Turkish MDF manufacturing sector.
-- Canada, where it has entered into a landmark joint venture -
KAQUO Forestry & Natural Resources Development Corporation -
with several indigenous Métis Settlements to commercialise in
excess of 250,000 hectares of their lands, which contain valuable
forests and natural resources, including oil and gas reserves.
-- The United Kingdom and United States of America, where it
develops advanced Biomass for Energy fuels and fuel processing
systems that convert waste wood and industrial/agricultural
residues into coal replacement feedstock for clean energy power
generation in a joint venture - AEG CoalSwitch Limited - with
Biomass Energy Enhancements LLC.
Ukraine and Canada, with their large forestry reserves and
comprehensive road, rail and sea transport links, are ideal
locations from which to source raw Biomass material for conversion
into wood fibre for MDF manufacturing and enhanced sustainable
fuels for electricity generating power plants.
A highly experienced and dedicated management team leads Active
Energy Group Plc, each of whom possesses a proven track record in
the industries and regions in which it operates and from which its
revenues are generated.
The Company has grown significantly in recent years, and has
established a firm foundation, excellent reputation and
international customer base upon which to build for the future.
WEBSITE: LINKEDIN: TWITTER:
www.active-energy.com www.linkedin.com/company/activeenergy www.twitter.com/aegplc
(@aegplc)
ENQUIRIES:
Active Energy Group Plc
+39 344
Richard Spinks richard.spinks@active-energy.com Intl.: 111 6071
Chief Executive +380 503
Officer Ukraine: 942 702
+972 (0)54
Mark Broomer mark.broomer@active-energy.com Intl.: 575 3091
+44 (0)7703
Corporate Communications UK: 18 88 18
WH Ireland Ltd. (Nominated Adviser and Broker)
Chris Fielding/Mark +44 (0)20
Leonard Office: 7220 1666
This information is provided by RNS
The company news service from the London Stock Exchange
END
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