Atlanta, GA (July 7, 2015) — Dominovas Energy Corporation (OTCQB: DNRG) announces the establishment of critical relationships with financing partners included within the scope of the Power Africa Initiative. As a Private Sector Partner, Dominovas Energy looks forward to exercising its direct access to Power Africa’s committed government, public and private sector lenders, such as Goldman Sachs, Barclays and Standard Bank, and global development finance institutions (DFIs), such as the Overseas Private Investment Corporation (OPIC) and the Africa Development Bank (AfDB). Of the aforementioned, select institutions are specifically focused on deploying capital to support further development of power infrastructure projects in sub-Saharan Africa. To lead and manage Dominovas Energy’s project finance and investment activities, its capital investment, and deployment programs, as well as the coordination with Power Africa Partners, the Company has added former GE Capital veteran Eric Fresh.
“As a member of the Power Africa Initiative, we have a vested interest in ensuring the Initiative’s success by employing all of its available resources, including engaging its committed financing partners in dialogue about our project level capital needs,” said Fresh in a recent interview. “With a captive audience of highly specialized project finance lenders and investors, we have an amazing opportunity to secure the type of structured equity and debt financing necessary to successfully deploy our RUBICONTM systems throughout sub-Saharan Africa.”
According to Mr. Fresh, “When domestic financial institutions in Africa lend at rates in excess of 18-20% per annum, most, if not all, large infrastructure projects in Africa require at least minimal involvement from the DFI community to access sufficiently flexible financing solutions to fund projects in countries with challenging credit profiles. While offering some level of increased comfort, the credit solutions provided by DFIs enhance the bankability and profitability of power projects in Africa for investors and private sector lenders by structuring credit facilities with longer tenors and lower interest rates; and by offering political risk insurance (PRI) and partial risk guarantees (PRG) through MIGA and the World Bank, respectively, to mitigate non-commercial risks.”
With respect to financing electricity generating systems that fall under the Power Africa Initiative in developing / emerging markets of sub-Saharan Africa, these affiliated financial institutions have committed to support the initiative by catalyzing private investment. Mr. Fresh added, “The institutions with which Dominovas Energy is actively engaged in project financing discussions create tremendous options in terms of financing power systems, on a multi-megawatt scale. For instance, OPIC can provide debt financing and political risk insurance to spur development investment.”
“Just as we have established a world-class team of OEM partners, Dominovas Energy now has a strong base of support from strategic financing partners capable of delivering billions of dollars of project capital in sub-Saharan Africa and beyond, over the next 5-10 years.”
Having the ability to identify and engage viable financial institutions provides Dominovas Energy the opportunity to capture future revenue streams, as supported by its executed and guaranteed power purchase agreements (PPAs). The value derived for project finance-based platforms is recognized by virtue of signed and executed PPAs, which define both costs and margin for delivery of electricity. As such, Dominovas Energy continues to exude confidence and excitement regarding its prospects for delivering on its mandate of creating clean, commercially-viable, reliable, and sustainable energy solutions to global and bankable emerging markets.
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 employs its proprietary RUBICON™ Solid Oxide Fuel Cell (SOFC) technology 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 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. By manufacturing and deploying the RUBICON™ 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.
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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