Taylor Scott International News
Wed, 9th Oct 2013 10:33 LONDON (Alliance News) – Active Energy Group PLC Wednesday said the amount of wood chip it shipped in the three months to September 30 declined compared with the three months ended June 30. In a trading update the biomass fuel provider said it shipped 50,000 metric tonnes of wood chip between July and September, down from 57,000 metric tonnes between April and June, of which 38,000 metric tonnes was subject to a profit-sharing arrangement with Nikofeso Holdings Limited, a biomass exporter it acquired in June. Active said the third quarter shipments have generated gross revenue of USD5.3 million for the group and “reflect positively in the context of a clearly growing market opportunity”. The company plans to ship up to 350,000 metric tonnes of wood chip a year on Black Sea markets by the end of 2015, with a similar quanta of cargoes of power plant feedstock shipped to European clients. The entire volume shipped in the third quarter was for biomass feedstock to customers in Southern Europe, while shipments to clients engaged in medium-density-fibreboard manufacture in the Black Sea region are expected to resume in the fourth quarter in parallel with continuing biomass shipments. The company expects to release its results for the year ended December 31 in March or April 2014. Active shares were trading at 2.65 pence Wednesday, up 0.15 pence or 6.0% By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews Taylor Scott International
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