Management Reports • Sep 17, 2015
Management Reports
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RNS Number : 4292Z
Active Energy Group PLC
17 September 2015
17 September 2015
Active Energy Group Plc
("Active Energy Group" or the "Group" or the "Company" or "AEG")
Update on KAQUO Forestry & Natural Resources Development Corporation ('KAQUO') Canadian Joint Venture
Active Energy Group Plc (AIM: AEG.L), the London Stock Exchange AIM-quoted international supplier of wood fibre products for MDF manufacturing, global forestry and natural resources development services, and Biomass for Energy (BFE) coal replacement fuel solutions and processing systems, announces that, further to its announcement dated 31 July 2015, it has been advised by the three Métis Settlements partners in the Group's KAQUO joint venture that they have received the findings of the Alberta Ministry of Aboriginal Relations investigation into the Métis Settlements handling of their participation in the joint venture.
The Métis Settlements have informed AEG that they have received Ministerial Order MSA-01/2015, which specifies certain conditions to be fulfilled, after which the joint venture can proceed. The Company is consulting with its Métis partners on those conditions, none of which it believes to be material, to formulate a strategy that will enable forestry operations to commence in January 2016.
A further announcement will be made in due course.
- ENDS -
NOTES TO EDITORS & CONTACT INFORMATION
ABOUT ACTIVE ENERGY GROUP PLC:
Active Energy Group Plc is a London Stock Exchange AIM-quoted company (AIM: AEG.L). Headquartered in the UK, it is a fast-expanding international business that has experienced exceptionally strong growth and diversification into complementary industry sectors since the current management team assumed responsibility in mid-2012.
The Group has considerable expertise across the entire timber industry supply chain - from forest to finished product.
Its three specialist business divisions, which reflect its knowledge and experience and which work together to maximise commercial opportunities, are focussed on providing products and services to specific global market sectors:
· Forestry & Natural Resources Development and Management
· Wood Fibre Products for Medium-Density Fibreboard (MDF) Manufacturing
· Advanced Biomass for Energy (BFE) Fuel Solutions and Processing Systems
Active Energy Group Plc operates from four international locations:
· Ukraine, where it is the largest producer and exporter of wood fibre for the Turkish MDF manufacturing sector.
· Canada, where it has entered into a landmark joint venture - KAQUO Forestry & Natural Resources Development Corporation - with several indigenous Métis Settlements to commercialise in excess of 250,000 hectares of their lands, which contain valuable forests and natural resources, including oil and gas reserves.
· The United Kingdom and United States of America, where it develops advanced Biomass for Energy fuels and fuel processing systems that convert waste wood and industrial/agricultural residues into coal replacement feedstock for clean energy power generation in a joint venture - AEG CoalSwitch Limited - with Biomass Energy Enhancements LLC.
Ukraine and Canada, with their large forestry reserves and comprehensive road, rail and sea transport links, are ideal locations from which to source raw Biomass material for conversion into wood fibre for MDF manufacturing and enhanced sustainable fuels for electricity generating power plants.
A highly experienced and dedicated management team leads Active Energy Group Plc, each of whom possesses a proven track record in the industries and regions in which it operates and from which its revenues are generated.
The Company has grown significantly in recent years, and has established a firm foundation, excellent reputation and international customer base upon which to build for the future.
| WEBSITE: | LINKEDIN: | TWITTER: |
| www.active-energy.com | www.linkedin.com/company/activeenergy | www.twitter.com/aegplc (@aegplc) |
ENQUIRIES:
| Active Energy Group Plc | ||||
| Richard Spinks | [email protected] | Intl.: | +39 344 111 6071 | |
| Chief Executive Officer | Ukraine: | +380 503 942 702 | ||
| Mark Broomer | [email protected] | Intl.: | +972 (0)54 575 3091 | |
| Corporate Communications | UK: | +44 (0)7703 18 88 18 | ||
| WH Ireland Ltd. (Nominated Adviser and Broker) | ||||
| Chris Fielding/Mark Leonard | Office: | +44 (0)20 7220 1666 | ||
This information is provided by RNS
The company news service from the London Stock Exchange
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