Late last month, Dominovas Energy Corp. made headlines when
it secured a landmark commitment of $1.2 billion in project financing to fund
the initial phase of production and deployment of its proprietary RUBICON™
solid oxide fuel cell technology. The company’s chairman and chief executive
officer, Neal Allen, hailed the commitment as further validation of Dominovas
Energy’s business model and “an undeniable endorsement of the technical prowess
of the RUBICON™.” Earlier this week, Dominovas Energy successfully built on
this progress when it announced a new commitment from Nevada-based GHS Capital
for up to $7.5 million over the next 36 months.
“This commitment from GHS Capital serves as a catalyst for
maintaining operational momentum established this year,” Eric Fresh, senior
vice president of finance and investments with Dominovas Energy, stated in a
news release. “Moreover, it solidifies the platform for continued business
development and implementation of the company’s strategic vision for expansion
and development of the RUBICON™ into the global frontier markets in 2016.”
Thus far in 2015, Dominovas Energy has implemented an
aggressive growth strategy that should provide a solid platform for strong
financial performance in the years to come. Since announcing its first power
purchase agreement (PPA) for the City of David in the Democratic Republic of
the Congo (DRC) earlier this year, the Company has committed to an ambitious
goal of securing the project financing needed to support the deployment of over
200 megawatts of signed and guaranteed PPAs in the DRC while continuing to
target other emerging markets throughout sub-Saharan Africa as part of
President Obama’s Power Africa Initiative.
For prospective shareholders, emerging power generation
markets in sub-Saharan Africa could represent an opportunity for Dominovas
Energy to realize considerable financial growth moving forward, particularly as
it continues to build an increasingly sizable foothold throughout the region.
According to a report by market research firm McKinsey & Company, there are
nearly 600 million people living in sub-Saharan Africa without access to
electricity. In the DRC, just 20 percent of the population currently has
average grid access. However, by 2040, the report suggests that more than 70
percent of the region will have access to reliable power generation, outlining
the substantial opportunity for Dominovas Energy as it continues to pursue
additional project financing.
“[W]e 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 base load power via the proprietary
RUBICON™,” added Allen. “Dominovas Energy actively demonstrates that the
funding of power infrastructure projects in global and emerging markets is not
only possible, but feasible.”
For more information, visit www.dominovasenergy.com
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