19 February 2021 | 14:09pm
StockMarketWire.com - Biomass-based renewable energy group Active Energy said the CLN restructuring and fundraising announced on 1 February 2021 received approval at its general meeting today (19 February).
Chief executive Michael Rowan said: We would like to thank current shareholders, former CLN holders and new shareholders for their continuing support of Active Energy. The completion of the corporate restructuring represents a significant milestone for Active Energy and will allow us to accelerate our business plans for CoalSwitch and the Lumberton site.
He added: Construction work is underway to complete the commissioning of the up to 5tph reference plant and we look forward to completing the development of Lumberton and exploiting additional commercial opportunities in North America in the months ahead. At 2:09pm: [LON:AEG] Active Energy Group share price was 0p at 0.47p
IN BRIEF: New Active Energy Chair Plus At Least GBP6 Million Fundraise
Mon, 1st Feb 2021 20:21
Active Energy Group PLC - London-headquartered biomass-based renewable energy business - Intends to conduct an at least GBP6 million fundraise, allotting a minimum of 600.0 million shares at 1.0 pence each. Placing shares are offered through an accelerated bookbuild with Allenby Capital Ltd as broker. Directors have agreed to buy a total of GBP20,000 worth of shares under the placing. A conditional offer for subscription via PrimaryBid at the same 1.0p per share has been made.
Proceeds will help finalise the installations and commissioning of the up to 5 tonnes per hour CoalSwitch reference plant as well as accelerating development of the up to 50tph CoalSwitch production plant. The money will also go towards general working capital and enhancing existing infrastructure and operations at Lumberton, as well as payment of the convertible loan notes as well as other note restructuring cost
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 low-cost biomass material into high-value green fuels. Its patented product CoalSwitch™ 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 modification. Active Energy Group s immediate strategic focus is the production and commercialisation of CoalSwitch™ and a low emission CoalSwitch™ blend that utilises other waste materials.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected
Will Biden s EPA Take On Wood Burning?
Photo: Boris Horvat (Getty Images)
Last week, President-elect Joe Biden nominated Michael Regan, who now heads North Carolina’s Department of Environmental Quality (DEQ), to lead the Environmental Protection Agency. One of the top issues he grappled with in North Carolina could also be prominent at the EPA as the Biden administration tries to reduce carbon emissions: burning wood for energy, which could lead to climate doom if not properly regulated.
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Regan’s record at DEQ has garnered praise from policymakers and activists alike for creating his agency’s first Environmental Justice and Equity Board in 2018, as well as helping win settlements to clean up PFAS and coal ash pollution. But on biomass, it’s more mixed.
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