Dominovas Energy Corporation yesterday issued game-changing
news that underwrites the company’s advancing position as a leading power
solutions provider, and catapults its core innovation onto the mainstage of
fuel cell technology. The newly announced capital commitment for USD$1.2
billion from Graecrest Energy Solutions will fund the first phase of
manufacturing, production and deployment of Dominovas Energy’s highly
anticipated, proprietary RUBICON™ SOFC systems.
“This is an unprecedented and historic commitment not only
for Dominovas Energy, but it is additionally significant for the fuel cell
industry as a whole. This financing commitment is further validation of the
company’s business model and an undeniable endorsement of the technical prowess
of the RUBICON™ and the ‘game plan’ we have set forth for the commercial
deployment of our fuel cell system,” Neal Allen, chairman and CEO of Dominovas
Energy, stated in the news release. “With $1.2 billion secured for the phase 1
manufacturing and installation of the RUBICON™, we have put in place the
building block that supports our innovation in engineering this next generation
technology for the commercial production of clean and sustainable baseload
power via the proprietary RUBICON™.”
Allen also explained that the financing demonstrates
Dominovas Energy’s potential and relevance in global emerging markets, and
notes that 100 percent of phase 1 of the project will be covered with the
funding, putting the company on track for its budget in 2016.
According to vice president of Investments and Finance Eric
Fresh, with this tranche of funding Dominovas Energy will “have the ability to
seamlessly reassess its needs in order to potentially expand capital
commitments, a necessity in accommodating subsequent financing phases of
RUBICON™ system deployments.”
With extended tenors of 20 to 30 years, the financing
structure provides Dominovas Energy a unique opportunity to implement
long-term, cost-effective project finance capital through which the company can
“effectively and efficiently deliver on schedule its mandate of creating
commercially-viable, clean, and sustainable energy solutions to global emerging
markets.”
The RUBICON™ is capable of reforming multiple hydrocarbon
fuels to a usable syngas composition, converting the chemical energy of a fuel
source into electricity using state-of-the-art SOFC stacks. This capability,
along with the fact that the RUBICON™ uses a thermal process rather than
combustion to outperform conventional power plants, provides Dominovas Energy a
vast range of deployment opportunities. In other words, the RUBICON™ can
produce more units of power with significantly less green-house-gas pollutants
per unit of power produced.
Today’s news is one of several significant corporate
milestones achieved by Dominovas Energy this year, as the company tirelessly
works to provide reliable, clean, and efficient energy to emerging global
markets.
For more information visit www.dominovasenergy.com
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