By Anthony O. Goriainoff
Active Energy Group PLC said Monday that it has been awarded a Malaysian patent for its biomass fuel CoalSwitch, and that it will be valid until May 2038.
The London-listed energy company said the patent—which was granted in respect of the process for beneficiating and cleaning biomass–combined with patents awarded in the US in 2020 for the manufacturing and production of CoalSwitch, as well as in Canada in 2021 .
The company said it continued to file further patent applications internationally, and that it was targeting markets such as Europe and Asia.
“We see Malaysia as one of our primary target markets for CoalSwitch, due to their rapid acceleration in the industrial sectors, which historically have been heavily reliant on carbon intensive fuels such as coal,” Chief Executive Michael Rowan said.
Shares at 0706 GMT were up 0.40 pence, or 9.5%, at 4.60 pence.
Write to Anthony O. Goriainoff at [email protected]
Credit: www.marketwatch.com /