Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Active Energy in various talks over future of CoalSwitch
(Sharecast News) - Active Energy, a renewable energy company specialising in biomass-based solutions, said in an update on Monday that it had entered discussions with various parties regarding strategic opportunities and the potential sale of its 'CoalSwitch' assets. The AIM-traded firm said it had received multiple proposals from interested parties, which the board was currently considering.
At the same time, the company said it was assessing its operations in the United States and internationally to optimise its capital resources.
Active Energy said it was confident in the potential of CoalSwitch to revolutionise the renewable biomass fuel market, catering to coal-fired power stations, heavy industries, and the existing biomass industry.
The board said it was actively exploring avenues to maximise the value of its assets, including the possibility of divesting components of the group or selling the CoalSwitch assets and associated intellectual property.
It said the CoalSwitch assets encompassed the company's original patent and trademark portfolio on the steam explosion process for fuel production, production and test data knowhow from initial activities, and relevant customer and internal test data.
Additionally, the firm held cash and cash equivalents of about $0.5m and a 4.1% shareholding in Alpha Prospects, valued at £0.68m.
Considering Active Energy's diminishing cash reserves due to ongoing operational costs, including those related to trading on AIM, the board said it was contemplating a members voluntary liquidation if an acceptable offer for the CoalSwitch assets was not received promptly.
However, the exact returns to shareholders in such a scenario remained uncertain.
Due to limited cash resources, Active Energy said it anticipated potential delays in completing its audit for the year ended 31 December 2023, possibly extending beyond 30 June.
Failure to publish the 2023 results by then could may result in the suspension of the company's ordinary shares from trading on AIM.
At 1503 BST, shares in Active Energy Group were down 36% at 0.24p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.