Active Energy Group (AEG) is restructuring its operations. According to the announcement, in future it will focus on two principal growth areas:
- global commercial roll out and development of AEG’s biomass coal replacement fuel product
- development of a forestry management business based in various territories
Michael Rowan, Chairman of Active Energy, commented:
“ABS and Timberlands represent two highly compelling business opportunities for AEG, which we believe are capable of establishing important new franchises in each of their existing industry sectors. The market opportunities being presented to each of these companies show considerable commercial potential. Accordingly, the Board has resolved that to achieve optimal success and capitalise on this, AEG needs to create a more defined group structure to execute these opportunities in an efficient and value accretive manner.
The reorganisation will decrease AEG’s future involvement in AEG WoodFibre and operations in Ukraine, thus significantly reducing the Group’s perceived geographic risk profile and allow investors to focus on two exciting investment strategies that are complementary but also have significant value as standalone operations.”
Earlier AEG informed, it had drawn down an initial USD 2 million under the USD 6 million five-year unsecured loan facility, provided by Linarus FZE to fund the construction of the first 35ktpa commercial reference plant in North America.
About Active Energy:
The company is London Stock Exchange AIM-listed international supplier of industrial wood chip and timber, Biomass for Energy (BFE) fuel products, and forestry asset development services. It has several operational set-ups in different segments: in Ukraine, Canada, the U.K and the U.S. It is the largest producer and exporter of processed wood products (in the form of wood chip) in Ukraine. In 2014 it reported revenues of USD 17.395 million.