Active Energy Group Names Steve Schaar Chief Operating Officer

Rhea-AI Summary

Active Energy (OTCQB:ATGVF) has appointed Steve Schaar as Chief Operating Officer, bringing over 25 years of experience in biomass energy manufacturing. This strategic hire comes as the company nears the commissioning of its first CoalSwitch® production facility in Ashland, Maine. CoalSwitch is a clean energy pellet that can replace coal, reducing CO2 emissions by up to 99%. The Ashland facility is expected to begin operations in late spring 2023, with plans for future facilities to meet growing demand. Schaar's background includes leadership roles at Enviva Biomass, enhancing the company's ability to scale operations and meet market needs.

Positive

• Appointment of Steve Schaar as COO to enhance operational efficiency and scale production.
• Nearing completion of the first CoalSwitch production facility in Ashland, Maine.
• CoalSwitch reduces CO2 emissions by up to 99% compared to coal.

Negative

• None.

LONDON , March 01, 2023 (GLOBE NEWSWIRE) -- Active Energy (AIM:AEG, OTCQB:ATGVF), announces the appointment of Steve Schaar as Chief Operating Officer. Schaar’s deep experience in running and growing commercial scale biomass energy manufacturing business will be important as Active Energy nears completion of the first manufacturing facility of CoalSwitch^®. CoalSwitch is a biomass-based clean energy pellet that performs as well, costs the same and burns cleaner than traditional coal.

“The appointment of Steve comes at a critical time for Active Energy as we are on the cusp of commissioning the first production plant in the United States, in Ashland, Maine,” said Michael Rowan, CEO of Active Energy. “But the Ashland facility is only the first of many we expect to need to build to meet the growing demand for our novel, clean energy pellet that nearly eliminates emissions from hard-to-decarbonize industries and utilities reliant on coal. Steve’s experience will be crucial for our ability to not only ensure smooth operations in Ashland, but also to scale for future growth.”

Schaar has more than 25 years of operations, project development, program management and new product introduction leadership from a broad range of industries. Of particular significance is his experience at Enviva Biomass, one of the world’s largest producers of sustainable wood pellets, where he ran production facilities at Sampson, North Carolina and Southampton, Virginia. Schaar holds a Master of Business Administration from Baker College with a concentration in Leadership and a Bachelor of Science Degree in Automated Manufacturing Engineering Technology from the University of Akron. Steve is also a certified Six Sigma Black Belt and holds a Project Management Professional (PMP) certification from the Project Management Institute.

“I’ve spent more than 20 years developing complex manufacturing plants and projects, and quite frankly have never seen a renewable product that can perform as well as coal, is cost-competitive with coal, and does not require modifications to existing coal burning equipment,” said Schaar. “I believe CoalSwitch can do what no other pellet can do – which is help utilities and hard-to-decarbonize industries accelerate their transition to clean fuel. I can’t wait to get started.”

AEG and its engineering partner, Player Design Inc are currently in the final stages of constructing the first fully commercial scale CoalSwitch production facility in Ashland, Maine where commissioning is expected in late spring. CoalSwitch has been shown to reduce CO2 emissions by up to 99 percent compared to coal and up to 97 percent compared to natural gas in an independent report from Life Cycle Associates. This is in addition to independent testing carried out under the STEP Program (working with Rocky Mountain Power) that showed this fuel can readily co-fire with coal and in doing so significantly reduces emissions and produces fewer pollutants. Additional peer-review research (published in 2023) shows that unlike traditional “white” pellets, CoalSwitch does not generate ash that can “foul” equipment.

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.

AEG 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 feedstock resources. More information is available at www.aegplc.com and www.coalswitch.us

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2fe80b89-7c3c-4c78-ab49-96bde0a117c1

 

FAQ

Who is the new COO of Active Energy?

Steve Schaar has been appointed as the new Chief Operating Officer of Active Energy.

What is the significance of the CoalSwitch technology?

CoalSwitch is a biomass-based pellet that can replace coal, providing a cleaner energy solution.

When is the Ashland facility expected to start operations?

The Ashland facility is expected to begin operations in late spring 2023.

What are the environmental benefits of CoalSwitch?

CoalSwitch can reduce CO2 emissions by up to 99% compared to traditional coal.

What experience does Steve Schaar bring to Active Energy?

Steve Schaar has over 25 years of experience in operations and project development in the biomass industry.