REPORT

Active Energy Signs CoalSwitch JV With Polish Coal Producer Cobant

LONDON – Active Energy Group PLC said Tuesday that it has signed a joint venture agreement with Polish coal producer Cobant SP ZOO to commercialise Active Energy’s CoalSwitch coal additive in blends with coal from slurry dumps in Upper Silesia, Poland. Shares in the biomass-based renewable energy company were up 8.4% at 4.50 pence in morning trade.

Following recent testing involving coal blends, CoalSwitch demonstrated outperformance over all other options tested by Cobant over the last three years, with the 15% CoalSwitch and 85% coal blend being the most efficient and requiring no chemical binder, Active Energy said. This is in line with the aim to produce a new “super fuel” product using CoalSwitch, produced from sawmill waste and forestry residue and combined with reclaimed and cleaned coal fines from Upper Silesia’s many coal waste dumps and processed from Cobant’s own patented coal waste reclamation technology, the company added.

“The group’s objective with this JVA [Joint Venture Agreement] with Cobant is to support this significant industry and regional employer in its efforts to meet its emissions targets and clean air requirements, whilst finding a use for their legacy and arising coal waste in a ‘Super Fuel’ blend,” said Active Energy Chief Executive Richard Spinks.

“Both Active Energy and Cobant believe this can be achieved by reconfiguring the feedstock of coal power plants to maximise output and enabling power plant operators to achieve their green credentials, whilst beating the mandated emission reduction targets set out by the European Union for 2020 and targeting the more ambitious targets for 2030,” Spinks added.

http://www.lse.co.uk/AllNews.asp?code=oahl8dgu&headline=Active_Energy_Signs_CoalSwitch_JV_With_Polish_Coal_Producer_Cobant

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