On Wednesday Doc caught up with Richard Spinks, CEO of Active Energy Group (LSE:AEG). They talked about recent developments with this forestry management/renewable energy company, which is developing a coal replacement fuel called CoalSwitch. Richard has been working for a number of years on developing the technology and AEG appears to be on the cusp of releasing it globally.
AEG’s technology converts poor quality timber or wood waste into a condensed compound, which can be used as a replacement for coal. The reduced carbon content of AEG’s product could help clean up old outdated coal-burning power stations, transforming them into rejuvenated and greener operations.
In line with the global move to reduce carbon footprints and move away from reliance on dirty fuels, this opens the door to greener alternatives such as CoalSwitch. While there are many competing technologies out there in this space, most of these require dramatic change and major overhauls of power planets and industrial processes. CoalSwitch offers a much simpler alternative.
As Richard comments, the value of CoalSwitch is that it “looks like coal, acts like coal and burns like coal”. Thanks to the energy density of the product and its ease of shipping, the overall energy efficiency of CoalSwitch could even rival coal itself. The coming months could prove to be extremely exciting for this company, as it seeks to build on its recent trials.
The interview can be listened to by clicking on the link below.