Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Active Energy Enters Forestry Venture With Canadian Aborigines

July 18 (Bloomberg) -- Active Energy Group Plc, a supplier of wood chips to power stations, entered a joint venture with three aboriginal groups in Canada to develop and manage more than 100,000 hectares (247,000 acres) of forest.

Active Energy, listed on London’s Alternative Investment Market, and the Metis Settlements will each own 45 percent of the venture, and Ronald Derrickson, the Grand Chief of British Columbia, will own the rest, the company said today in a statement. The Metis Settlements will grant exclusive rights over all their forestry assets in western Canada to the venture.

The deal will “set the standards and terms for further agreements with other Metis, First Nations and aboriginal groups across Canada to enable them to develop and commercialize their assets in an equitable and sustainable manner to bring long-term economic growth, employment and stability to their communities and their peoples,” Derrickson said in the statement.

All commercial deals that the venture enters into will require local employment for Metis citizens, according to the statement.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Alex Devine, Randall Hackley

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.