Business
Corporate Update
Corporate Update.
About this update from Active Energy Group Plc
[{"type":"text","content":"\n \nRNS Number : 2504Z Active Energy Group PLC 13 December 2017 \n\nActive Energy Group Plc / EPIC: AEG / Sector: Alternative Energy\n13 December 2017\nActive Energy Group Plc ('Active Energy' or 'the Group')\nCorporate Update\n \nActive Energy, the London quoted international biomass based renewable energy and forestry management and business, announces that, given the increasing commercial interest in CoalSwitch™, Brian Evans-Jones will be changing his responsibilities to focus exclusively on Advanced Biomass Solutions Plc ('ABS') in his role at Managing Director. \n \nABS is focused on commercialising CoalSwitch™. Following the achievement of recent commercial milestones and the near completion of construction of the first five-tonne per hour CoalSwitch™ plant in Utah, the Board of Active Energy believe this is the moment to re-assign responsibilities. Mr. Evans-Jones will no longer have responsibilities as CFO but will remain on the Group's Board as a Director. The Group has commenced the search for a new Finance Director and has already appointed an interim finance professional to oversee current activities. Further announcements will be made in due course.\n \nIn addition, the Group announces that, following its recent placing, it has appointed Optiva Securities Ltd (\"Optiva\") as its sole broker with immediate effect. \n \nActive Energy Non-Executive Chairman, Michael Rowan, said, \"Due to the significant recent developments with ABS and our revolutionary CoalSwitch™ biomass fuel, we needed a dedicated Managing Director to interface with potential clients, manage existing commercial and government relationships and to execute new opportunities to build value. Brian's in-depth knowledge of the ABS business made him the obvious choice to fill that role. The timing is particularly astute as we are close to commencing production at our first commercial CoalSwitch™ plant in Utah, USA, to generate revenue and allow us to produce large scale quantities for testing and utilisation internationally.\n \n\"Brian will remain a valued member of the Group's Board. We have already appointed an interim finance professional to oversee the current activities of the Group's finance function and we intend to announce the appointment of a new full time Finance Di...