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On 6 March 2024, Active Energy Group PLC announced it received a cash payment of $1,650,000 from the PDI Parties. This payment was made pursuant to a Settlement Agreement, the details of which were announced on 5 March 2024.
| Date | 6 Mar 2024 |
| Time | 07:00:07 |
| Category | Miscellaneous |
| ID | 7166F |
6 March 2024
Active Energy Group Plc
("Active Energy" or the "Company")
Cash Received from Player Design Inc.
Active Energy (AIM: AEG, OTCQB: ATGVF), the international biomass based renewable energy business, announces that the Company has received the cash payment of $1,650,000 from the PDI Parties pursuant to the Settlement Agreement, details of which were announced on 5 March 2024.
The Board continues to examine the most expedient ways to commence CoalSwitch® fuel production, using its proprietary technologies, and will provide an update to shareholders at the earliest opportunity.
ENDS
Enquiries:
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Active Energy Group Plc |
Michael Rowan (Chief Executive Officer) Michelle Fagan (Chief Financial Officer) |
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Allenby Capital Limited Nominated Adviser and Broker |
Nick Naylor/James Reeve/Daniel Dearden-Williams (Corporate Finance) Amrit Nahal (Sales/Corporate Broking) |
Office: +44 (0)20 3328 5656 |
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Camarco Financial PR Adviser |
Tom Huddart / Emily Hall / Lily Pettifar |
Office: +44 (0)20 3757 4980 |
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Scoville PR US PR Adviser |
John Williams |
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Website |
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www.aegplc.com |
www.linkedin.com/in/active-energy-group-plc/ |
@aegplc |
About Active Energy Group
Headquartered in London with operations in the United States, Active Energy Group plc (AIM: AEG, OTCQB:ATGVF) is a biomass-based renewable energy company focused on the production and development of next generation biomass products that have the potential to transform coal fired power and heavy industries and the existing renewable biomass industry.
Active Energy has developed a proprietary technology which transforms waste biomass material into high-value renewable fuels. Its patented product CoalSwitch® is a leading drop-in biomass renewable fuel that can be blended and co-fired with coal at any ratio without requiring significant plant modification or wholly replacing existing biomass fuels.