Active Energy Group
AEG · AIM · Energy · mcap £6.0m · 0.1p 7 open situations →
- EV
- £6.2m
- EV / EBIT
- –
- Net debt
- £229k
- FCF yield
- -42.6%
- Revenue
- £0k
- Share price 1y
- −8%
- Insiders 12m
- bought £50k
- Next report
- around 1 Jul
Open · 7
Bitdeer joint mining partnership
Includes UAE 8MW HPC/crypto facility – Final commissioning; 60% pre-sold
Non-binding LOI signed with Bitdeer on 24 April 2026 for a profit-sharing joint mining partnership. On 9 September 2026 AEG said Bitdeer prefers sites of about 20 MW+. The 30 September 2026 interims confirm talks continue with no binding terms, and the Board is focusing on larger power-backed sites.
- Target
- 100 MVA rollout; 8 MVA UAE site as blueprint 5 May 2026 ↗
- Progress
- 8 MVA site being configured to Bitdeer technical specifications 5 May 2026 ↗
- Bitdeer view
- 8 MW site below preferred standalone scale of approximately 20 MW and above; discussions continue 9 Sep 2026 ↗
- 8 MW illustration
- c.US$3.2m per annum infrastructure revenue plus c.20 BTC per annum at illustrative 30% share; not guidance 9 Sep 2026 ↗
- Status
- LOI of 24 April 2026; commercial terms and definitive documentation outstanding 30 Sep 2026 ↗
- AEG response
- Combine 8 MW with c.6-10 MW site and other pipeline capacity to reach 20 MW or more 9 Sep 2026 ↗
Next: Agree commercial terms and definitive documentation with Bitdeer
- 30 Sep 2026 Non-binding LOI; talks continuing
- 9 Sep 2026 8 MW built; Bitdeer prefers 20 MW+; talks continue
- 5 May 2026 Non-binding LOI; 8 MVA site being configured
- 24 Apr 2026 Non-binding LOI signed 24 April 2026
Funding and going concern
Cash fell to £0.17m at 30 June 2026 after the May placing raised £1.14m net. The 30 September 2026 interims say going concern holds only if a debt facility with a Private Investment Fund completes; no binding agreement exists.
- Cash
- £170,504 at 30 June 2026 (31 December 2025: £0.77m) 30 Sep 2026 ↗
- Facility
- Potential debt facility with a Private Investment Fund; no binding agreement 30 Sep 2026 ↗
- Going concern
- Board view is sufficient resources subject to completion of the funding 30 Sep 2026 ↗
- Downside case
- Board modelled lower utilisation, commissioning delays and funding not completing on assumed terms 30 Sep 2026 ↗
- Loss
- £0.86m for H1 2026 (H1 2025: £0.43m) 30 Sep 2026 ↗
Next: Conclude debt facility with Private Investment Fund
- 30 Sep 2026 Talks ongoing; no binding agreement
Acquisition of c.6 MW energised site
Part of Second UAE grid connection acquisition – Non-binding Heads of Terms; due diligence begun
On 9 September 2026 AEG said it is in advanced discussions to buy a client base and sales platform tied to an existing operating partner. The business generates over US$7 million annual revenue at a healthy gross margin. No price, funding or timetable is given.
- Revenue
- annual revenue in excess of US$7 million, healthy gross margin 9 Sep 2026 ↗
- Seller
- associated with one of AEG's existing operating partners; not named 9 Sep 2026 ↗
- Price and funding
- not stated 9 Sep 2026 ↗
- Next milestone
- Complete due diligence and negotiations 9 Sep 2026 ↗
Next: Complete due diligence and negotiations
- 9 Sep 2026 Proposed acquisition; terms not disclosed
Cantor Fitzgerald Europe selling down
Next: 4.67% still held
- 12 May 2026 4.67%
- 11 May 2026 5.09%
- 8 May 2026 7.87%
- 7 May 2026 10.74%
Spreadex LTD selling down
Next: 12.0054% still held
- 11 May 2026 12.0054%
- 29 Apr 2026 13.3061%
- 28 Apr 2026 14.2629%
- 21 Apr 2026 15.3155%
Second UAE grid connection acquisition
Includes Acquisition of c.6 MW energised site – Proposed acquisition; terms not disclosed
On 23 April 2026 AEG signed non-binding Heads of Terms for a 2.5 MVA grid connection at Taweela, UAE, for £1.25m, half in shares and half deferred cash. It is the third UAE grid deal after Ghummud and Kazna. Completion is expected in about four weeks, subject to due diligence. AEG then targets energisation and revenue within 12-15 weeks.
- Next milestone
- Completion of Kazna transaction by end of April 2026
- Then
- Energisation anticipated on an accelerated basis
- Consideration
- £1.25m at £500,000 per MVA
- Equity
- £625,000 in new shares at a premium to closing price, with a 12-month lock-in
- Cash
- £625,000 deferred, paid in two equal parts over 12 months after completion
- Conditions
- Confirmatory due diligence, binding documentation and shareholder authority to allot shares
Next: Confirmatory due diligence, binding documentation and completion
- 23 Apr 2026 Non-binding Heads of Terms; due diligence begun
- 20 Apr 2026 Completion expected by end of April
- 17 Mar 2026 Terms agreed; subject to due diligence
UAE 8MW HPC/crypto facility
Part of Bitdeer joint mining partnership – Non-binding LOI; talks continuing
- 13 Jan 2026 Final commissioning; 60% pre-sold
Closed · 6
Company filings. Not investment advice.