20th Aug 2020 11:33
(Alliance News) - Active Energy Group PLC on Thursday said it has raised GBP1.5 million through share placing to advance the Lumberton project located in the US state of North Carolina.
The biomass based renewable energy business has issued 251.7 million new ordinary shares at 0.6 pence per share. Shares in Active Energy were down 6.3% at 0.75 pence each in London on Thursday morning.
Proceeds of the fundraise will be used to progress construction of the company's CoalSwitch biomass fuel plant at Lumberton site, undertake further research and development, and for general working capital purposes.
By Tapan Panchal; [email protected]
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