ATLANTA, GA--(Marketwired - Sep 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 RUBICON™ and ORCAS™ systems were submitted in compliance with the USTDA requirements.
Dominovas Energy's RUBICON™ 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 RUBICON™ 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 RUBICON™ produces significantly less pollutants (CO2, NOx, PM10) on a per kWh of produced energy than the competition (GenSets, turbine, micro-turbine). Additionally, the RUBICON™ has a minimal number of moving parts within its system, and thereby, operates virtually silently. SOFC cells are stacked in the RUBICON™ to obtain the desired power output. Heat generated within the RUBICON™ system can be utilized further for hot water production or space heating resulting in a combined heat and power efficiency of ~85%. The RUBICON™ 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 ORCAS™ 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.
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.