Active Energy Group Plc (AEG) has agreed terms for the issuance of its first CoalSwitchTM Licence Agreement to RMD Environmentals, Inc. ("RMDE"), a British Columbia based forestry management and environmental engineering and consultancy business, to develop and manage projects involving the use of CoalSwitchTM technology in each of the Crown Provinces of Alberta and British Columbia in Canada.
AEG has executed a 20-year exclusive License Agreement with RMDE, Inc., a commercially focused environmental engineering, and production company with a focus on developing forestry residuals and low/no value fibre waste into biomass fuel products.
Under the terms of this License Agreement, AEG has granted and RMDE has purchased exclusivity over the sale and commercial development of all opportunities to which the CoalSwitch™ technology may be applied in the Territories.
RMDE has paid to AEG an upfront fee license fee of $1.8 million (C$2.4million) and has agreed to make future royalty payments of $5.00 per tonne to AEG for the Licensed CoalSwitch™ Product that is produced using the CoalSwitch™ technology and know-how.
It is anticipated that RMDE will commission its first plant within the next 18 months, subject to environmental and other permitting processes being finalised. To this end, RMDE has commenced initial preparatory and pre-engineering work in Alberta for its first plant and is working on additional projects using the CoalSwitch™ technology in the Crown Provinces of Alberta and British Columbia in Canada.
Active Energy Group Plc is international biomass based renewable energy business.
