Business
Agreement with Newfoundland and Labrador Province
Agreement with Newfoundland and Labrador Province.
About this update from Active Energy Group Plc
[{"type":"text","content":"\n \nRNS Number : 7388F Active Energy Group PLC 22 May 2017 \n\nActive Energy Group Plc / EPIC: AEG / Sector: Alternative Energy\n22 May 2017 \nActive Energy Group plc (\"Active Energy\", \"AEG\" or the \"Company\")\n \nAgreement in Principle for Timber Licence & Forestry Management Agreement in the \nProvince of Newfoundland and Labrador \n \nActive Energy, the London quoted international renewable energy, forestry management and timber processing business, is pleased to announce that it has entered into an agreement in principle with the Province of Newfoundland and Labrador (the \"Province\"), Canada, that if finalised will provide Active Energy and its affiliate, Timberlands International plc ('Timberlands'), with a Crown timber licence and forest management agreement relating to two Forest Management Districts covering 1.2 million hectares. In addition, both parties are evaluating a number of other collaborative opportunities for both Timberlands and Advanced Biomass Solutions plc, another affiliate company of AEG, involving timber processing and the commercialisation of the CoalSwitch product, the world's first 'drop in' biomass fuel that can completely replace coal in existing coal fired power stations without the need for expensive retrofitting. \n \nOverview:\n· Crown timber licence and proposed 20-year forestry management agreement (the \"Agreement\") to harvest and utilise up to 140,000 solid cubic metres of wood annually from the Forestry Management Districts 17 and 18 within the Province; \n· The two forestry management districts have a total land area of 1,211,000 hectares on the Northern Peninsula of the Province, proximate to ocean port facilities, with direct access for shipping routes to Europe;\n· The Agreement will facilitate the management and assessment of multiple commercial possibilities for the forests including commercial logging, saw log merchandising, chipping and the production of biomass products utilising forestry waste;\n· Timberlands is developing relationships with existing companies engaged in forestry operations and saw milling activities, on the Northern Peninsula and surrounding areas, to cooperate with them on further timber related operations and fibre exchan...