Statement on Ashland Facility

Source: 8/9/2021, Location: Europe

Active Energy announces that on 5th August 2021, one of the reactors at the Ashland Facility failed whilst operating and, consequently, production of CoalswitchTM at the Ashland Facility has been temporarily suspended. The cause of this failure will require a detailed assessment, which is already underway. Except for the reactors, all other equipment at the Ashland Facility remains operational.

The Ashland Facility has been in operation since May 2021 for both CoalswitchTM production and refinement of the manufacturing process. Improvements continue to be undertaken at the plant to simplify the manufacturing process and reduce costs. The Company was already analysing the performance of the reactors, which were originally from Utah, and considering their replacement to accommodate identified operational benefits. These factors, combined with the detailed assessment will be considered before the Ashland Facility resumes toward full scale production.

Active Energy has continued to supply CoalswitchTM samples to new potential customers and the Board remains pleased with the level of engagement and initial feedback to the CoalswitchTM product.

AEG will provide shareholders with further updates regarding operations at the Ashland Facility as appropriate.

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