Dominovas Energy Corporation (OTCQB: DNRG) announced this morning that it is in formal negotiations with local partners in India and Indonesia to secure power generation projects in these countries. Last year, Dominovas Energy conducted and completed a market analysis in both countries and verified that there is a tremendous growth and commercial potential for the advancement of the proliferation of its RUBICONTM fuel cell energy generating system. The support at the government and local level for an energy-efficient and commercially viable power generation system is sufficient, viable, and conducive for the RUBICONTM deployment in India and Indonesia. The effort has been ongoing and is being led by Dominovas Energy’s Executive Vice President for Fuel Cell Operations Dr. Shamiul Islam who is originally from Bangladesh.
The formal negotiations with the local partners, as led by Dr. Islam, have allowed the company to identify specific opportunities for timely engagement in terms of evaluating project size, location, fuel price, and availability in addition to government support. Supporting the opportunities will be the execution of Memorandums of Understanding (MOU), requisite financial and bank guarantees, along with bankable government supported Power Provider Agreements (PPAs). In aggregate, the potential project opportunity and market penetration is greater than 25MW per year for the RUBICONTM deployment in these markets.
Dr. Islam noted, ‘‘We will continue to expand within this market, as I know and have experienced firsthand the need and significant demand for the RUBICONTM. I am very pleased that we were able to evaluate business opportunities with our local partners in India and Indonesia in a very short period of time. India and Indonesia have long had a history of accepting and benefitting from advanced technologies. The RUBICONTM has been embraced with open arms, which is a testament as to why both India and Indonesia continue to be tech industry leaders and innovators. Having highly-educated and informed local partners, government support and infrastructure in place, Dominovas Energy will press forward for the deployment of its RUBICONTM system in both India and Indonesia’’. Chief Operating Officer and President of the Fuel Cell Division, Michael Watkins, noted, “As an energy solutions company, it is important that Dominovas Energy continues to advance the delivery of our RUBICONTM systems not only in Africa, but worldwide, wherever opportunities exist. A diverse client base platforms and positions Dominovas Energy for the maturing of the supply chain of the RUBICONTM fuel cell that is necessary for us to expect and realize a future and ongoing revenue stream in the near future. This strategy is consistent with, and furthers our mandate to become a profitable global energy leader.”
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, the ORCAS™ hydro systems and sourced clean coal technology for deployment in multi-megawatt power generation units worldwide. The worldwide need of clean and efficient production and distribution of is well documented. this need and the energy deficit worldwide Dominovas Energy recognizes that worldwide, markets offer immense potential for commercial. Dominovas Energy is aggressively moving to allocate its intellectual and financial capital forthwith, in order to strategically address this opportunity. By engaging 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 that the impact of advanced “energy” technology can and will positively change the world, and Dominovas Energy is resolute in its mission to provide electricity where and when economically viable.
For more information, visit www.dominovasenergy.com.
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.