AEC was incorporated on 17 November 2004. The company’s founders are the original founders of Australian Power & Energy Limited (APEL).

APEL was formed to compete in a global tender conducted by the Victorian Government in 1999 to utilise Victoria’s vast reserves of brown coal in an environmentally sustainable way.

Anglo American Group PLC (Anglo) purchased the company and is now collaborating with Shell on a coal to liquids (CTL) project. The APEL project has now been renamed Monash Energy Ltd (www.monashenergy.com.au).

AEC is an unlisted public company with 155 shareholders. There are 150 million shares on issue.