Active Energy acquires Bioenerho
Voltage optimisation equipment firm Active Energy has acquired Bioenerho-Leader for an initial consideration of 40,000,000 new ordinary shares, priced at 7.5p each.
Voltage optimisation equipment firm Active Energy has acquired Bioenerho-Leader for an initial consideration of 40,000,000 new ordinary shares, priced at 7.5p each.
Bioenerho was established in October to provide biomass energy resources to industrial power facilities in Poland to reduce carbon emissions and assist the power facilities in complying with certain regulatory requirements governing the use of fossil fuels.
Chairman Gavin Little said: "We are very excited by this latest acquisition which is in line with our strategic plan and complements the activities of the Redline Engineering business and the repositioning of the company in the eco/energy management sector.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"I expect the acquisition will form a strong platform for the company in this fast-growing energy market. There are a number of Biomass Electricity Generation facilities in neighbouring countries, notably Poland, which are anticipated to come in to operation in the next twelve months which we would hope to generate orders from."
The company said it also hopes to secure additional contracts once orders are received from the initial supply contract.
The initial consideration for Bioenerho will be satisfied by the issue of the Consideration Shares. The Consideration Shares have been issued at a price of 7.5 pence per share.
The share price rose 20.83% to 3.62p by 09:21.
NR
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Tap into investment trusts to profit from private equity
Opinion The investment companies providing access to unlisted firms’ robust growth are looking cheap, says Max King
By Max King
-
Elliot Grainge: the music mogul of the TikTok age who will now helm Atlantic Records
Elliot Grainge, the entrepreneur behind the upstart music producer 10K Projects, has taken over the top job at Atlantic Records, the label synonymous with musical greats. Can he transform its prospects?
By Jane Lewis