ATLANTA, GA--(Marketwired - Jun 16, 2015) - Dominovas Energy Corporation (
SOMICO-RDC SARL operates mining concessions in LAUSAMBO, MULUNDU, KANDAKANDA and KATSHISUNGU. As one of several mines operated by SOMICO-RDC SARL, the Somico Mine will serve as a model for deploying RUBICON™ systems throughout Africa and other global markets. With the vast reserves of natural resources in Africa, the mining sector represents a tremendous opportunity for Dominovas Energy's continued expansion across diverse applications of the RUBICON™. The mining sector in Africa singularly represents a multibillion dollar industry, with the potential to deploy in excess of 25,000 MW of power to mining operations and their communities.
On the heels of the Company's announcement just a week ago of its 3MW PPA with the City of David, which is also in the DRC, Dominovas Energy is forging ahead with its platform to deploy a technology that will revolutionize the way electricity is delivered in Africa. The physical deployment of the RUBICON™ in the Democratic Republic of Congo is expected to begin in Q4 of 2016. The 3MW installation is a continuation of what is the largest single deployment of fuel cell technology on the continent of Africa, representing a paradigm shift in the DRC's approach to addressing concerns regarding harmful carbon emissions, and to reducing the ever-expanding equipment maintenance and inefficiencies that are associated with increased costs, as are endemic with power generation from diesel generators, combined-cycle gas-fired turbine (CCGT) power plants, and other combustion-centric technologies.
The RUBICON™ will produce over 25.5 million kWh of clean, efficient, and reliable electricity every year. The 3MW Power Provider Agreement (PPA) will yield more than US$107 million in guaranteed revenue to Dominovas Energy over the multi-year term PPA.
Emilio De Jesus, President of Dominovas Energy's Africa Division, expressed, "I am thrilled that my executive management team has given me the latitude to execute to this scale and magnitude. Somico Mine will establish the new blueprint for how mine operators in Africa and other emerging markets support their mining operations, using off-grid 'clean' energy solutions."
Dominovas Energy's COO, Michael Watkins, added, "This is an exciting day for Dominovas Energy. Today, we are reaping the benefits of sales cycle maturation that has required patience, diligence, and careful planning. As a result, our pipeline of projects is creating the type of production scale that will promote efficient and cost-effective manufacturing. Our signed PPAs will further support job creation and expansion domestically, as the RUBICON™ is manufactured and supported by a robust supply-chain in the U.S."
About the Democratic Republic of Congo
The Democratic Republic of Congo is a French speaking country located in Central Africa (Sub-Saharan Africa). It received its independence from Belgium in 1960. The Democratic Republic of Congo has an area of 2.34 million square kilometers and a population of 71 million inhabitants. The Democratic Republic of Congo has the fourth largest population on the African continent, while being the second largest country relative to land mass. Currently only 7% of its population has access to electricity. The Democratic Republic of Congo shares nine common boarders with neighboring countries. The current president, Joseph KABILA, was elected in 2001. The country experienced a 6.24% growth in GDP in 2013 resulting in a recorded GDP of $29.3 billion. Electric production in 2010 was 7.8 billion kWh. Improvements in infrastructure are a primary focus of the government and its international development partners. The lack of access to electricity has greatly handicapped the country's ability to attract and grow commercial industries, including the mining sector.
The Democratic Republic of Congo is rich in natural resources having Extractive Industries with emphasis on copper, cobalt, zinc, diamonds, oil shale, and coltan, accounting for approximately 12% of its GDP. The country is home to some of the largest mineral reserves in Sub-Saharan Africa.
About Dominovas Energy Corporation (
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.
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.
Contact Information:
Media and Investor Contact:
Eric Fresh
SVP, Finance and Investments
Eric.fresh@dominovasenergy.com