GRAND CAYMAN, Cayman Islands, March 13, 2026 (GLOBE NEWSWIRE) -- Activate Energy Acquisition Corp. (NASDAQ:AEAQ) (the "Company"), a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, today announced that it has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the "Annual Report") with the U.S. Securities and Exchange Commission ("SEC").

Key Highlights from the Annual Report Include:

Cash and Investments: Approximately $ 230,556,356 held in the trust account, invested in U.S. government securities or money market funds meeting certain conditions under Rule 2a-7 of the Investment Company Act.

Operating Results: Net income of $ 300,371 for the fiscal year ended December 31, 2025, primarily driven by interest income.

Business Combination Timeline: The Company has until December 4, 2027, to complete its initial business combination, subject to any extensions in accordance with its governing documents.

Appointment of New Directors. As of March 4, 2026, the Company has appointed two New Directors, Paul Moore and Keith Byer to replace Richard Lorentz and Andrew Childs.

Paul Moore

Paul Moore has extensive oil/gas upstream exploration development and production track record. From September 2014 to September 2022, Mr. Moore held multiple executive roles at Todd Corporation, including CEO of Todd Energy International, where he led major upstream developments in British Columbia and advanced a $2.5 billion methanol project in the United States. From July 2009 to July 2011, Mr. Moore served as CEO and Managing Director of Otto Energy Limited. He began his career with Shell International Petroleum Company Limited. as a petroleum engineer and later held senior operational and project leadership roles at Fletcher Challenge Energy Ltd. and Santos Limited, ...