Active Energy Group (AEG) established a separate affiliate company Advanced Biomass Solutions Plc (ABS), will hold all of the current CoalSwitch operations controlled by AEG in North America, along with all future projects relating to the Company’s unique biomass coal replacement technology.
According to the announcement, Brian Evans-Jones, the Group’s CFO, has been appointed to the board of ABS.
Earlier AEG announced restructuring of its operations.
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.