Active Energy Shares Jump As It Receives First CoalSwitch Order – Morningstar

(Alliance News) – Active Energy Group PLC on Tuesday said it has received its first order for CoalSwitch from the reference plant at its Lumberton site in North Carolina.

The order is from Portland, Oregon-based electric power company PacifiCorp.

The London-headquartered biomass-based renewable energy business was awarded a new US patent for its CoalSwitch process earlier this month, which is “the world’s only drop-in biomass fuel that can be mixed at any ratio with coal or completely replace coal in existing coal-fired power stations without requiring plant modification.”

Shares in Active Energy were up 54% at 0.60 pence in London on Tuesday.

Active Energy said it will be supplying up to 900 tonnes of biomass feedstock from its Lumberton site for delivery by no later than June 14, 2021. CoalSwitch will be burnt at PacifiCorp’s Hunter Power Plant in Utah as part of the coal and biomass co-firing demonstration being conducted by PacifiCorp.

The company said it anticipates the commissioning of the first CoalSwitch plant in the second quarter of 2021, and that it is currently in discussions with utility and power customers in the US to test the CoalSwitch fuels as soon as practicable.

Chief Executive Michael Rowan said: “This is a seminal moment for AEG as we deliver our first commercial product to a major US based customer. We are also pleased to confirm that the order will also be fulfilled using waste materials as a key component of the next generation biomass fuels and which will be a core value of Active Energy’s future biomass goals.”

By Zoe Wickens;

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