Dominovas Energy Corp. (DNRG) Emphasizes Significance of Power Africa Initiative

After the closing bell today, Dominovas Energy issued a press release that emphasizes and details the scope of the Power Africa Initiative announced earlier this week. Specifically, Dominovas Energy Corporation has been named as the first, and only, fuel cell company selected as a Private Sector Partner to President Barack Obama’s POWER AFRICA INITIATIVE. The Power Africa Initiative (PAI) is a multi-stakeholder partnership comprised of over 100 private sector partners. However, the Power Africa Initiative scope is, in fact, more expansive than the initial six countries previously reported. Power Africa is designed to provide support for all countries in sub-Saharan Africa, but in the first year offered intensive regulatory reform support and technical assistance to an initial set of six Power Africa focus countries – Ethiopia, Ghana, Kenya, Liberia, Nigeria, and Tanzania. These countries signed Memoranda of Understandings with Power Africa, which reflect the strong commitment of African governments to engage in policy and regulatory reform, and in particular to implement critical energy sector reforms. Through PAI, public sector agencies / entities maintain an express intent to nurture and accelerate private sector investment in sub-Saharan Africa’s power sector over the next several years.

Power Africa private sector partners represent the foundational support in building the regulatory, economic, and policy framework integral to meeting sub-Saharan Africa’s increasing demand for, and access to, electricity; and Dominovas Energy anticipates this partnership will continue to catalyze the resources and combined commitment of numerous U.S. government agencies, as well as the World Bank Group, AfDB, and many additional Power Africa partners, to facilitate Power Africa’s objectives, operations, and related sector investments. Detailed earlier this week, as a Power Africa private sector partner, Dominovas Energy will actively engage relevant U.S. agencies to fully employ the participating agencies’ tools to ensure any financing and capacity gaps that may exist can be addressed directly, specifically with respect to existing and incremental energy sector investments. These resources will allow Dominovas Energy to benefit from interagency efforts, by leveraging Power Africa’s tools including, but not limited to technical expertise and financing; while enhancing project bankability by implementing various risk mitigation tools.

Dominovas Energy’s President of its Africa Division, Emilio De Jesus, added, “With Power Africa’s commitment to the entire sub-Saharan Africa, it has set the stage for Dominovas Energy to complete sales cycles it began in earnest over two years ago with government officials of respective nations working closely with our company to realize a viable solution to their energy sector concerns.”

Over the next several years, as part of its commitment to Power Africa, Dominovas Energy intends to support and advance Power Africa goals by providing access to clean, reliable energy; partnering with specific universities in sub-Saharan Africa to train and hire local citizens as engineers and technicians, as necessary for the installation, service, and ongoing maintenance of the RUBICON™; and providing sub-Saharan countries with access to distributed, off-grid electricity on a multi-megawatt scale.

For more information on Dominovas Energy and its fuel cell technology, visit www.dominovasenergy.com

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