Today before the opening bell, Dominovas Energy Corp.
announced a historic partnership with the United States government. By
deploying its modular, off-grid RUBICON™ Solid Oxide Fuel Cell systems,
Dominovas Energy has been named as the first, and only, fuel cell company
selected as a Private Sector Partner to President Barak Obama’s POWER AFRICA
INITIATIVE. This initiative is a multi-stakeholder partnership comprised of
private sector participants, the United States government and governments of
several African countries, including but not limited to the following Power
Africa focus countries: Ethiopia, Ghana, Kenya, Liberia, Nigeria and Tanzania.
The implications of this partnership extend beyond public and private sector
engagement as these entities intend to nurture and accelerate private sector
investment in Africa’s power sector over the next several years.
Power Africa partners represent the foundational support in
building the regulatory, economic, and policy framework integral to meeting
Africa’s increasing demand for, and access to, electricity. Dominovas Energy
feels it is perfectly positioned to meet the supply needs of an ever-increasing
demand for clean and reliable electricity throughout sub-Saharan Africa.
The energy solutions company anticipates that this
partnership will continue to catalyze the resources and combined commitment of
numerous U.S. government agencies, as well as the World Bank Group, African
Development Bank (AfDB), and many additional Power Africa partners, to
facilitate Power Africa’s objectives, operations, and related sector
investments. As a Power Africa member company, 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. This enables 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, as it is available through the select agencies
comprised in the Power Africa Initiative. Dominovas Energy has committed to
adopting, adhering to, and undertaking the required policy framework for
specific projects, so it and other companies can effectively fulfill their
commitments to invest in the further enhancement and development of the power
infrastructure in sub-Saharan Africa.
Michael Watkins, Dominovas Energy’s COO & President of
its Fuel Cell Division, states, “This partnership not only demonstrates
Dominovas Energy’s commitment to emerging markets, but it also firmly positions
the United States as a reliable and robust ally to Africa, respective of its
long-term power needs.”
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 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 Power Africa countries with access
to distributed, off-grid electricity on a multi-megawatt scale.
According to today’s press release, deployments of the RUBICON™
are expected to increase the quantity of power available to over 100 million
people by 2021, via multi-megawatt capacity installations. Dominovas Energy’s
investment will directly benefit citizens, households, and businesses by
producing clean, reliable, and continuous energy.
For more information on the company and its fuel cell
technology, visit www.dominovasenergy.com
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