Non-binding Heads of Terms Signed
Active Energy Group plc has signed non-binding Heads of Terms for a joint venture in the UAE, establishing a special purpose vehicle named Active Mining Group. Under this agreement, Active Energy will retain a 60% controlling shareholding, with partners Segments Cloud Hash FZ LLC and LC Group FZE each holding 20%. This joint venture is intended to support the efficient utilization and phased expansion of the Group's UAE digital infrastructure capacity, aligning with their proposed 100MW strategic plan by combining technical expertise with commercial reach without significant demands on internal resources or central capital expenditure.
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Further to its announcement on 26 January 2026 regarding the proposed formation of a joint venture ("JV") in the United Arab Emirates ("UAE"), Active Energy Group plc (AIM: AEG, OTC: AEUSF), the renewable energy and digital infrastructure company, confirms that a non-binding Heads of Terms have now been signed with its UAE partners.
It has been agreed that the JV will operate through a, to be established, UAE-domiciled special purpose vehicle ("SPV"), Active Mining Group, with the domain activemining.com.
The Heads of Terms have been entered into with Segments Cloud Hash FZ LLC, a technical and ASIC mining operator with significant operational experience in the sector, and LC Group FZE, which brings extensive commercial, sales and marketing expertise together with established international client relationships (together, the "Partners").
Under the proposed structure, the Partners will hold a 20% equity interest each, with Active Energy retaining a 60% controlling shareholding. Active Energy will lead strategy and oversight, and the JV is intended to support the efficient utilisation and phased expansion of the Group's UAE digital infrastructure capacity.
A further announcement will be made as the arrangements progress.
Paul Elliott, CEO of Active Energy Group plc, commented:
"We see this joint venture as an important foundation in delivering our proposed 100MW UAE strategic plan. By partnering with best-in-class operators, we can combine deep technical capability with established international sales reach, without placing undue demands on internal resources or central capital expenditure. The partners bring complementary strengths and are well aligned with Active Energy's strategy, and we believe this structure provides a scalable and disciplined framework for growth."
Abdul Hakeem, CEO of Segments, commented:
"This is a unique opportunity to partner with Active Energy Group, a UK-quoted and professionally managed company with a clear strategy, strong governance and access to capital markets. AEG is a dynamic business with clear momentum in the digital infrastructure sector and access to ultra-low-cost energy. We are pleased to contribute our technical expertise and operational capacity to the partnership and look forward to supporting the scalable build-out of the platform, including progression toward the Group's longer-term 100MW objectives."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.