Active Energy was established in March 2009 to manufacture and sell the VoltageMaster power optimiser as a solution for electricity and carbon reduction.

In September 2009, Active Energy was selected as a nominated supplier to the ESPO (Eastern Shire Purchasing Organisation) framework agreement for voltage optimisation equipment. This framework is open to the entire public sector.

During January 2010, Active Energy announced a strategic alliance with Southern Electrical Contracting (SEC), a subsidiary of Scottish and Southern. SEC selected VoltageMaster as the sole voltage optimiser to be offered to their customers. Active Energy has also been successful in winning a number of public sector tenders, most recently for the installation of VoltageMaster units in over fifty Ministry of Justice court houses throughout England.


There seems to be political wind supporting this company. Maybe they will come through financially too?

It is a pity that they could not get more than this for there placing!

Active Energy Group Plc / EPIC: AEG / Sector: Alternative Energy
30 November 2018
Active Energy Group Plc ('Active Energy', the 'Company' or the 'Group')
Equity Placing to Raise £1.495m
To Advance Expansion of Revolutionary CoalSwitch™ Biomass, Forestry & Related Projects

Active Energy, the London quoted international biomass based renewable energy and forestry management business, has raised £1.495m (before expenses) as detailed below:

· Issue of 149,500,000 new ordinary shares of 1p each ('Ordinary Shares') at a price of 1p per share (the 'Placing Price' and the 'Placing Shares') from new and existing investors (the 'Placing');
· Grant of one warrant for every 4 Placing Shares, granted at a price of 1.75p with a life of 12 months from the date of grant (the 'Warrants'). The Warrants will not be listed;
· Michael Rowan, CEO of Active Energy and members of the senior management team have subscribed for a total of 9,500,000 Placing Shares;
· In addition, certain creditors of the Company have resolved to receive a total of 15,500,000 Ordinary Shares in lieu of cash in consideration for services provided to the Company (the 'Consideration Shares');
· The Company will use the net proceeds of the Placing to:
o execute the expansion plans under the joint venture with Georgia Renewable Power LLC, through which commercial production of CoalSwitch™ from its five tonne per hour plant is expected in early 2019, as detailed in the RNS announcements dated 15 October & 19 November 2018;
o commence planning for the commercial development of the forestry opportunities and construction and installation of the first CoalSwitch™ plant in Newfoundland detailed in the RNS announcements dated 19, 26 & 29 November 2018; and
o provide the Group with additional working capital.

Active EnergyChief Executive Michael Rowan said, "Recent developments have served to propel Active Energy towards near-term visible revenues and position it to advance its longer-term expansion strategy. Whilst I acknowledge now is not the optimum time for the Company to be raising funds given the turbulence in the wider market and with Active Energy's trading in recent weeks, it is key for us to quickly leverage the commercial opportunities available and move towards a cash generative position.

"Demonstrating the Board and senior management's confidence in our investment proposition and our ability to achieve first revenue generation from our operations within months, a number of us have subscribed for Placing Shares. The Active Energy management team is fully aligned with investors and we are committed to realising the Company's strategic objectives in order to achieving value for all shareholders.

"I am confident that our base case remains strong: we believe we have a ground-breaking technology, coupled with expandingglobal partnerships for our products and a defined path to revenue generation. I would like to thank our existing shareholders who participated in the Placing and welcome our new shareholders to the Group's register. I look forward to providing them with further updates regarding Active Energy's progress in due course."
Consideration Shares
Certain creditors of the Company have resolved to receive a total of 15,500,000 Consideration Shares. Of the Consideration Shares, 14,500,000 have been issued at the Placing Price and 1,000,000 have been issued at 2.5p per Ordinary Share.

Details of the Placing and Total Voting Rights
The Placing Shares and Consideration Shares will rank pari passu with the existing Ordinary Shares and application has been made for both the Placing Shares the Consideration Shares to be admitted to trading on AIM ('Admission'). The Placing is conditional, inter alia, on Admission, and dealings are expected to commence at 8.00am on 6 December 2018. The Placing utilises the Company's existing authorities to issue Ordinary Shares.

Following Admission, the Company's enlarged issued share capital will comprise 1,201,906,951 Ordinary Shares with voting rights. This figure may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.


Details of Director and PDMR participation in the Placing
As detailed above, Michael Rowan and several members of the senior management team have subscribed for a total of 9,500,000 Placing Shares.

Following Admission of the Placing Shares the percentage holding in the total issued share capital of Active Energy of Michael Rowan and certain PDMRs will increase as per the table below:

Director/PDMR

Number of Placing Shares subscribed for

Holding following Placing and Admission

Percentage holding of Ordinary Shares Following Placing and Admission

Michael Rowan (CEO)

2,000,000

5,221,250



0.43%

Antonio Esposito (COO)

2,000,000

2,000,000

0.17%

Richard Spinks (MD, Timberlands International)

2,000,000

54,105,333



4.5%

Ron Cella (MD Utah)

2,000,000

2,000,000

0.17%

Duncan Nealey (CFO)

1,500,000

1,500,000

0.12%