Active Energy has confirmed that, given the increasing commercial interest in CoalSwitch, Brian Evans-Jones will be changing his responsibilities to focus exclusively on Advanced Biomass Solutions in his role as Managing Director.
In addition, the Group has announced that it has appointed Optiva Securities as its sole broker, with immediate effect.
Active Energy Non-Executive Chairman, Michael Rowan, said:
"Due to the significant recent developments with ABS and our revolutionary CoalSwitch biomass fuel, we needed a dedicated Managing Director to interface with potential clients, manage existing commercial and government relationships and to execute new opportunities to build value. Brian's in-depth knowledge of the ABS business made him the obvious choice to fill that role. The timing is particularly astute as we are close to commencing production at our first commercial CoalSwitch plant in Utah, USA, to generate revenue and allow us to produce large scale quantities for testing and utilisation internationally.
"Brian will remain a valued member of the Group's Board. We have already appointed an interim finance professional to oversee the current activities of the Group's finance function and we intend to announce the appointment of a new full time Finance Director in due course.
"We are also pleased to welcome Optiva, which supported our recent fundraise and will now act as the Group's Sole Broker. We look forward to benefiting from Optiva's experience at representing growth companies on a global scale as we focus on moving both ABS and our Timberlands division towards commercial production."
At 1:22pm: (LON:AEG) Active Energy Group share price was +0.13p at 2.5p