Active Energy Group plc (AEG), the London based renewable energy, forestry management and timber processing business has updated the market pertaining to the latest developments in the commercialization of its CoalSwitch project after announcing that its first CoalSwitch plant will be completed during December 2017 and the exercise of warrants and options in AEG some 3 years ahead of their maturity by the company’s CEO
- AEG announced on December 18th that it has netted GBP 521,666 following the exercise of warrants and options by Chief Executive Officer Richard Spinks.
- As of November, 30, 2017, Active Energy Group announced that it planned on completing its first 5 tph (tonne-per-hour) CoalSwitch™ plant, Utah, USA, in December 2017.
- On December 15, the Governor's Office of Energy Development in Utah issued a letter of support regarding ABS's plans for CoalSwitch™ and in particular Active Energy's intention to deliver product for commercial scale testing to power generating facilities in the state.
Please download the pdf version of our flash note on AEG to find out more.
Our view: These 3 news items are STRONGLY POSITIVE for the company stock. A completion of plant construction is a milestone in a further commercialization of the innovative CoalSwitch technology and as predicated in our report “AEG: Funding in Place” dated March 27, 2017, the first plant is to become fully operational in January 2018. We also view extremely positively the exercise of warrants and options by Company’s CEO which should be seen as a major vote of confidence in the company’s near term future by management We reiterate out target price of $0.12 (8.96 GBp) per share and plan to issue an updated report in January 2018.
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