SOURCE: EnviroMission Limited

December 21, 2006 09:30 ET

EnviroMission Moves to Include US Development

NEW YORK, NY -- (MARKET WIRE) -- December 21, 2006 -- EnviroMission Limited (PINKSHEETS: EVOMY) has launched a move to develop Solar Towers in the United States in line with global development objectives for the Australian enhanced technology.

The opening of a US office in Arizona will provide EnviroMission with a base for development in the Southwest where strong potential has been indicated for the technology following initial industry and government discussions in the region.

Global rights to Solar Tower development are currently controlled by EnviroMission's largest long-term shareholder, SolarMission Technologies Inc. (SolarMission); EnviroMission's move into the US is undertaken in cooperation with SolarMission in an alignment of strategic intent for streamlined development of the technology.

EnviroMission's development rights in Australia were first granted through the issue of EnviroMission shares to SolarMission in 2001; that equity holding has formed the basis on ongoing support and corporate interest in global development and optimization of the technology.

Located in Phoenix, EnviroMission's office will provide logistic support to a feasibility study and meteorological testing of 24,000 acres of right of access land secured from The State Land Trust in northwestern Arizona, midway between Phoenix and Los Angeles.

EnviroMission's involvement with Solar Tower development in the US will provide additional value to EnviroMission shareholders through active participation in the "commercialisation pathway" that was outlined within EnviroMission's Low Emissions Technology Demonstration Fund (LETDF) submission.

Prospects for development of Solar Towers in the US are enhanced by policies that are increasingly supportive for renewable energy development; Arizona is amongst those states that have a regulated timetable for renewable energy targets.

The Arizona Corporation Commission (regulatory responsibility includes utilities) has recently reformed the Environment Portfolio Standard, now referred to as the Renewable Energy Standard, to 'open the door' for solar, wind, biomass and other creative energy technologies to show they can produce substantial quantities of energy.

Regulated target deadlines are:

2006: 1.25%    2010: 2.5%    2015: 5%    2020: 10%    2025: 15%
Mandated targets, with climatic and economic conditions, will be among the determining factors in the business case decision where economic viability is shown in competing markets.

The availability of additional markets to EnviroMission will also achieve stronger commerciality through the maximisation of development expense and expertise from parallel (or multi) development scenarios.

EnviroMission's Arizona office details are:

5110 N. 44th Street
Phoenix, AZ 85018
T (+1) 602 343 8190
F (+1) 602 343 8194
About EnviroMission Limited

EnviroMission is a renewable energy developer and innovator of commercially viable large-scale power generation driven by solar radiation for zero greenhouse gas emissions.

Notes about forward-looking statements

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties.

Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "expects," "intends," "believes," "may," "should" and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date when they are made.

Contact Information

    Ms. Kim Forte
    Communications Director
    +61 414690356
    +61 396935666

    Alex Livak
    (347) 813.4664
    Email Contact