Active Energy Group completes Lumberton CoalSwitch site acquisition
In the United States (US), Active Energy Group Plc (AEG), a UK-headed international biomass-based renewable energy and forestry management business, has announced that it has completed the acquisition of an industrial site in Lumberton, North Carolina (NC) to house the first permanent CoalSwitch production facility in the US.
Earlier this month, Active Energy Group (AEG) announced that it had entered into an agreement with Alamac Holdings LLC (Alamac), a privately owned US entity, to acquire an industrial site in Lumberton, North Carolina for a total consideration of US$3.33 million.
According to AEG, the site is strategically located close to AEG’s joint venture (JV) partner Georgia Renewable Power LLC (GRP) and is also in a prime lumber district in the US. It includes up to 415,000 sq ft of covered factory space and circa 151 acres of surrounding land.
The outstanding condition relating to the acquisition of the Lumberton site in Lumberton has now been satisfied. As such, following the satisfactory review and acceptance of all inspections and titles, as well as appropriate re-zoning for its recognised industrial uses, the acquisition has completed.
The site will become the new base for all AEG’s CoalSwitch operations in the US and house the first permanent production facility.