Friday, October 14, 2016

Dominovas Energy Corporation (DNRG) Highlights Plans to Capitalize on Momentum of Upcoming RUBICON™ Showcase Unit

Before the opening bell, Dominovas Energy Corporation (OTCQB: DNRG) announced that it has submitted a formal Request for Proposal (RFP) for the Ekurhuleni Energy Generation Program in Johannesburg, South Africa. The submission was made in collaboration with the company’s joint venture partner for the project, Mponeng Holdings [PTY] LTD (MPH), a sustainable energy management company based in Johannesburg. If awarded, the project would include a 20 megawatt power purchase agreement (PPA) to provide electricity for Johannesburg’s Ekurhuleni Metropolitan Municipality, which would be fulfilled by leveraging Dominovas Energy’s proprietary RUBICON™ Solid Oxide Fuel Cell technology.

“The submission of this RFP and entering into this ‘JV’ agreement with MPH is an extension of our goal to expand and establish roots in multiple regions within sub-Saharan Africa,” Michael Watkins, chief operating officer of Dominovas Energy and president of its Fuel Cell Division, stated in this morning’s news release. “Having set our sights initially on the 50kW Showcase for Johannesburg, we believe it is critical that the follow-up and immediate next steps be in place and determined early in the process to maintain the momentum we hope to create with the installation of the ‘Showcase’.”

In recent months, Dominovas Energy has placed much of its focus on the delivery of its RUBICON™ ‘showcase’ unit to South Africa’s University of Johannesburg. Since the initial announcement of the project in May 2016, the company’s management team has completed multiple site visits to determine the actual site and deployment strategy for the unit, as well as to discuss a possible collaborative venture between Dominovas Energy and the University of Johannesburg designed to advance the study of fuel cell technology across sub-Saharan Africa. According to recent updates, the company is currently on pace to deliver the first system in 2017, with the ultimate goal of implementing a multi-Megawatt system in the region shortly thereafter.

Delivery of its highly-anticipated RUBICON™ ‘showcase’ unit is expected to play a key role in Dominovas Energy’s future growth, as illustrated by the company’s recent progress toward securing additional work following its implementation. Just last month, Dominovas announced that it has entered formal negotiations with key officials at the University of Johannesburg to become one of the main suppliers of electricity for the school’s Johannesburg campuses. If awarded, this project is expected to entail a minimum of 12 megawatts.

Dominovas Energy has also made efforts to expand its reach in sub-Saharan Africa outside of South Africa. In September, the company appointed Dr. Emma Rasolovoahangy as its ambassador for renewable energy projects and special advisor for the Republic of Madagascar. This move was particularly exciting when considering Dominovas Energy’s hydro power division, Currentergy. According to industry estimates, Madagascar boasts a hydro potential of about 7,000 megawatts, making it one of the company’s “top priorities for development and operation of multiple power projects.”

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