- Biomass-based renewable energy business Active Energy booked a first-half loss, as it focused on the development of a large-scale commercial hub in Lumberton, North Carolina.

Pre-tax losses from continuing operations for the six months through June amounted to $1.83m, compared to losses of $2.27m on-year.

Revenue from contracts with customers was $99,830, up from no revenue on-year, relating to engineering consultancy services.

'The team has made significant progress,' chief executive Michael Rowan said.

'We have acquired the Lumberton site and have a defined plan for the commercialisation of CoalSwitch contemporaneously with additional products.'

'Our ambition remains for Active Energy to become a profitable producer of second-generation biomass fuels, focusing on the pellet market.'

'Our production designs are modular, and we are designing efficient operations that are scalable to increase manufacturing volumes to potential market demands.'

'With first production imminent,the company is looking forward to the future with increasing confidence.'

At 1:54pm: [LON:AEG] Active Energy Group share price was -0.09p at 0.46p

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