Active Energy (AEG), the London quoted renewable energy business focussed on biomass, has entered into a joint venture agreement with Renewable Logistics Systems LLC ("RLS"), a supplier of saw-logs, pulpwood and wood chips to international and domestic markets.
The joint venture will enable AEG to enter the saw logging export market via the commencement of operations at the Company's Lumberton Site, in Robeson County, North Carolina ("Lumberton") and will also provide further revenue opportunities for the Company.
Michael Rowan, CEO of Active Energy Group, said, "This joint venture with RLS is another important milestone and represents a further complimentary revenue stream for AEG. It also establishes an additional source of feedstock supply for the production of pelletised fuels, and importantly accommodates all the near-term logistics requirements for Lumberton for the supply of existing and new pelletised renewable fuels to customers.
"Revenue from the joint venture will be utilised for the future development of Lumberton and further demonstrates the value of our new operational centre, as it provides valuable commercial opportunities for the Company through being an industrial hub located strategically in the heart of America's forestry industry."
