The increasing demand for renewable energy sources has led to the growth of the biomass power market. The global biomass power market is expected to grow at a compound annual growth rate (CAGR) of 5.73% from 2023 to 2032.
Biomass power refers to the use of organic materials to generate electricity. This can include wood, agricultural residues, municipal solid waste, and other organic materials. Biomass power plants use various technologies to convert biomass into electricity, including combustion, gasification, and anaerobic digestion. These processes involve burning the biomass to produce steam, which is then used to power turbines and generate electricity.
Active Energy Group plc (LON:AEG) is a biomass based renewable energy business focussed on using its proprietary technology to transform low-cost or waste biomass material into renewable biomass fuels, thus creating next generation biomass products. AEG’S CoalSwitch® is a second generation biomass fuel that has been tested, and proven, to replace the traditional coal fired-power industry and existing renewable biomass industry without requiring plant modification.