Agreement in Principle for Timber Licence & Forestry Management Agreement in the Province of Newfoundland and Labrador

Active 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.