Dominovas Energy Petitions for Project Grants Through United States Trade and Development Agency
September 30 2016 - 8:30AM
InvestorsHub NewsWire
ATLANTA, GA--(Marketwired – September 29, 2016) -
Dominovas Energy Corporation (OTCQB: DNRG) today announces it
has formally submitted grant proposals to the Unites States Trade
and Development Agency (USTDA) https://www.ustda.gov for the
advancement in the proliferation of its RUBICON™ Fuel Cell
technology as well as its hydroelectric system, the ORCAS™.
With parallel tracks for the deployment of its energy-efficient and
renewable energy systems, the Company has petitioned USTDA for a
combined amount of just over US $2.1 million dollars. The
submissions are specific to four distinct projects and budgets with
total power output for the combined projects equal to a total of
2.9 Megawatts. The grant requests range from a low of
$355,000 to a high of $800,000.
USTDA projects are assessed based upon their viability as proven
technologies along with their intended and expected social and
environmental impact. USTDA funding is open to private,
public, and PPP beneficiaries. While there is no prescribed
minimum or maximum grant amount, projects generally range between
$350,000 and $1,500,000 per project. The funding is on a 100%
grant basis for the project sponsor. The hallmark of USTDA’s
assistance is establishing links between U.S. companies and
overseas project sponsors to bring private sector solutions to
development challenges. Types of project preparation
assistance USTDA provides includes: pre-feasibility and feasibility
studies in order to provide the required comprehensive analysis for
infrastructure projects to achieve successful financing and
implementation; technical assistance to provide technical analysis,
design, legal and/or advisory support related to commercial
activities and infrastructure development; e.g. advanced
engineering and design, environmental impact analysis, legal and
regulatory services, equipment vendors & EPC contractor
identification, project structuring activities, etc. pilot projects
in order to demonstrate the effectiveness of U.S. technological
solutions and provide the analysis, evaluation and empirical data
needed to secure funding; support on enabling environment
activities to address specific issues that block project/sector
success; e.g. sector policies, master plans, capacity building,
feed-in tariff studies. USTDA does not provide any financial
instruments such as working capital, sub-ordinated loans, equity,
risk insurance, etc. Dominovas Energy’s project proposals for
both the RUBICONTM and ORCASTM systems were
submitted in compliance with the USTDA requirements.
Dominovas Energy’s RUBICONTM is a highly efficient fuel
cell system that provides base-load power by converting the
chemical energy of a hydrocarbon fuel (natural gas) into
electricity. The core of the RUBICONTM is built on
a Solid-oxide Fuel Cell (SOFC) platform, which employs an
electrochemical process resulting in a high fuel-to-electric
efficiency of 60%. Due to its high electrical efficiency, the
RUBICONTM produces significantly less pollutants
(CO2, NOx, PM10) on a per kWh of produced
energy than the competition (GenSets, turbine, micro-turbine).
Additionally, the RUBICONTM has a minimal number
of moving parts within its system, and thereby, operates virtually
silently. SOFC cells are stacked in the RUBICONTM
to obtain the desired power output. Heat generated within the
RUBICONTM system can be utilized further for hot water
production or space heating resulting in a combined heat and power
efficiency of ~85%. The RUBICONTM operates nearly
100% of the time of the year requiring minimal maintenance and
shutdown during the initial years of operation.
The Company’s proprietary ORCAS™ system employs proven and long
deployed “Run-of-River (ROR) technology to generate
electricity. In ROR systems, running water is diverted from
waterways and is guided via channels to penstocks which then leads
to a generating house. Here, the force from the head and flow
of the water spins turbines which, in turn, powers
generators. Used water is fed back into the main river
further downstream. It is important to note that the
difference between run-of-river and large, conventional storage
hydro, is the absence of a reservoir or dam in the conventional
sense. Run-of-river relies on coursing rivers to generate
electricity, as opposed to stored water.
Dominovas Energy’s ROR solution is based upon proven technology
that allows for short deployment times that generally range between
18 and 24 months. The Company, as previously announced,
partnered with Andritz Hydro, who has been a global leader for
hydro power generation for over 100 years. Andritz maintains
a global presence in more than 50 locations and more than 25
countries worldwide. Andritz Hydro installed the Republic of
Madagascar’s first hydro-turbine in 1918, and installed additional
capacity there as recently as 2003.
Dominovas Energy recently announced the addition of Dr. Emma
Rasolovoahangy to its Company as Special Advisor for overseeing and
directing operations of Renewable Energy. She has a keen
interest for projects in the Republic of Madagascar, her native
land. With her appointment Dominovas Energy intends to
vigorously pursue projects there. The World Bank has
identified and documented that Madagascar holds an enormous
potential for hydropower generation with up to 7000MW available
from over 500 potential sites. and Dominovas Energy
intends to engage Madagascar’s water resource via its
ORCASTM system with the guidance and direction of Dr.
Rasolovoahangy.
The submission of the USTDA proposals helps set the stage for
ultimately determining deployment feasibility, viability, and
timelines for both the ORCAS™ and the RUBICON™. The Company
expects to receive the USTDA’s decision on its submissions during
the month of October.
About Dominovas Energy
Corporation (OTCQB:
DNRG)
Founded in 2005, Dominovas Energy
Corporation (DEC) is a publicly traded company, based in
Nevada. With its operating headquarters in Atlanta, Georgia,
USA, Dominovas Energy Corporation is a leading power solutions
provider to emerging markets around the world. DEC seeks to
deploy its proprietary RUBICON™ Solid Oxide Fuel Cell (SOFC)
technology and proprietary ORCAS™ hydro systems for deployment in multi-megawatt power generation
units worldwide. The worldwide pursuit of clean and efficient
production of electricity via Solid Oxide Fuel Cell technology and
hydro technology inspired its founders to create an "energy
solutions" company. Recognizing that "green" and "alternative
energy" markets offer immense potential for growth, Dominovas
Energy is aggressively moving to allocate its intellectual and
financial capital forthwith, in order to strategically address a
green energy solution that is 100% reliable, efficient, and
measurably cleaner than GenSets and CCGT. Additionally,
unlike wind and solar solutions the RUBICON and ORCAS™
provide baseload power 24/7/365 days a
year. By manufacturing and deploying the RUBICON™ and
ORCAS™ throughout of the world, Dominovas
Energy is committed to creating shareholder value by not only
generating guaranteed revenue streams, but also by increasing the
value of "human and community capital." Devoted to core
values by operating under the utmost of honesty and integrity in
all its business transactions, Dominovas Energy is additionally
dedicated to respecting the rights of all individuals, while
acknowledging and respecting all cultures necessary to support the
growth and development of the communities and countries in which it
operates. The Company strongly believes in the impact this
singularly advanced technology will make on the world and is
resolute in its mission to provide electricity where and when
economically viable.
For more information, visit
www.dominovasenergy.com.
Forward-Looking
Statements
This press release, as well as other
statements made by Dominovas Energy Corporation (the "Company"),
contain forward-looking statements that reflect, when made, the
Company's current views with respect to current events and
financial performance. Such forward-looking statements are
subject to many risks, uncertainties and factors relating to the
Company's operations and business environment, which may cause the
actual results of the Company to be materially different from any
future results. All statements that address future operating,
financial or business performance or the Company's strategies or
expectations are forward-looking statements. Factors that
could cause actual results to differ materially from these
forward-looking statements as is applicable would be discussed
under captions as follows: "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in the Company's filings as would be filed with the
Securities and Exchange Commission as required. New
risks and uncertainties arise from time to time, and it is
impossible for us to predict these events or how they may affect
the Company. It should be remembered that the price of
the ordinary shares and any income from them can go down as well as
up. The Company disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events and/or otherwise, except
as may be required by law.
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Investor Questions:
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