Active Energy Group sees US market now "far more receptive" to its CoalSwitch product | News Direct

Active Energy Group sees US market now "far more receptive" to its CoalSwitch product

Active Energy Group PLC
News release by Active Energy Group PLC

facebook icon linkedin icon twitter icon pinterest icon email icon London, UK | September 29, 2023 03:00 AM Eastern Daylight Time


Active Energy Group (AIM:AEG) CEO Michael Rowan, CFO Michelle Fagan and Chief Operating Officer provide some insight into how the biomass-based renewable energy company has been performing, following the release of interim results for the six months to 30 June 2023. Rowan says that the past six months have seen significant changes, including the establishment of a new US-based management team.

The company is expanding its product offerings, focusing on future costs, fuel sales, manufacturing, consulting, and technology sales. The company's CoalSwitch fuel is an energy-dense, low-carbon product designed for existing equipment, offering additional revenue streams like renewable credits.

CFO Michelle Fagan reported no revenue in H1 but remains optimistic about Q4 finances, noting a cash balance of $1.2 million and no debt.

COO Steve Schaar introduces new iterations of CoalSwitch and talks about partnerships, aiming for US site expansion and diverse feedstocks.

The company is actively marketing, targeting industries like pulp, paper, and cement, and sees growing global interest.

Rowan concludes with a summary of how he sees the current position of the business, saying that the US market is now "far more receptive" to what AEG is bringing to the market.


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