AEG - Active Energy Group sees US market now far more receptive to its CoalSwitch product
(NewsDirect)
Active Energy Group (AIM:AEG) CEO MichaelRowan, CFO Michelle Fagan and Chief Operating Officer provide someinsight into how the biomass-based renewable energy company has beenperforming, following the release of interim results for the sixmonths to 30 June 2023. Rowan says that the past six months have seensignificant changes, including the establishment of a new US-basedmanagement team.
The company isexpanding its product offerings, focusing on future costs, fuel sales,manufacturing, consulting, and technology sales. The company'sCoalSwitch fuel is an energy-dense, low-carbon product designed forexisting equipment, offering additional revenue streams like renewablecredits.
CFO Michelle Fagan reportedno revenue in H1 but remains optimistic about Q4 finances, noting acash balance of $1.2 million and no debt.
COO Steve Schaar introduces new iterations of CoalSwitch andtalks about partnerships, aiming for US site expansion and diversefeedstocks.
The company is activelymarketing, targeting industries like pulp, paper, and cement, and seesgrowing global interest.
Rowan concludes with a summary of howhe sees the current position of the business, saying that the USmarket is now "far more receptive" to what AEG is bringing tothe market.
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