2nd Oct 2015 16:26
LONDON (Alliance News) - Active Energy Group PLC Friday noted market speculation surrounding its recently-announced AEG CoalSwitch joint venture, citing an article in The Times, but said it has made no commitments to individual power plant owners or operators.
The company announced last month it had entered into a joint venture agreement with Biomass Energy Enhancements LLC to form the venture, to commercialise a new clean-energy biomass fuel which can be utilised in traditional coal-fired power plants as a direct replacement for coal.
It said this has generated "considerable international interest" from coal-fired power plant owners and operators, and said it has been in talks with the owners of the Eggborough power station in North Yorkshire, amongst others in Europe, North America and the Middle East.
"Any suggestion that AEG has selected a particular coal-fired electricity generating plant or company is premature, and any such agreement would be announced through the proper regulatory channels. In the meantime, AEG CoalSwitch is establishing a number of important commercial relationships which we believe will be fundamental to our future success, and we welcome interest from all sectors of the power generation, biofuel and renewable energy industries," said Chief Executive Officer Richard Spinks in a statement.
Shares in Active Energy closed down 2.5% at 5.80 pence Friday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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