Proactive Investors - Active Energy Group PLC (LON:AEGR), the renewable biomass energy producer, confirmed the production of CoalSwitch, a carbon-neutral, sulphur-free alternative to coal, at its Ashland manufacturing facility in Maine has been delayed until November 2023.
Delays to the construction of the facility, caused by interruptions to the deliveries of key components and associated equipment, means the group will not be able to commence any production until after the third quarter, the company revealed in a trading update.
Additionally, Active Energy won’t be able to supply any of its customers with CoalSwitch this month but notes its sales team is undergoing negotiations with several potential clients for a few different industries across the world.
Announcing its interim results for the six months to June 30, the London-listed company said it will provide any new updates on CoalSwitch production and the sales strategy surrounding it then.
Michael Rowan, chief executive officer of Active Energy, said: "The delay in completion of the Ashland Facility is obviously disappointing news for the CoalSwitch® program. Nonetheless, despite the production delay, we continue to be actively engaged with an increasing number of potential customers for CoalSwitch® and the current level of engagement confirms the future commercial opportunities for the fuel.
“I look forward to updating shareholders in the announcement of our interim results later in the month."