October 29, 2015 (www.investorideas.com newswire) Dominovas Energy Corporation yesterday issued game-changing news that underwrites the company's advancing position as a leading power solutions provider, and catapults its core innovation onto the mainstage of fuel cell technology. The newly announced capital commitment for USD$1.2 billion from Graecrest Energy Solutions will fund the first phase of manufacturing, production and deployment of Dominovas Energy's highly anticipated, proprietary RUBICON™ SOFC systems.
"This is an unprecedented and historic commitment not only for Dominovas Energy, but it is additionally significant for the fuel cell industry as a whole. This financing commitment is further validation of the company’s business model and an undeniable endorsement of the technical prowess of the RUBICON™ and the ‘game plan’ we have set forth for the commercial deployment of our fuel cell system," Neal Allen, chairman and CEO of Dominovas Energy, stated in the news release. "With $1.2 billion secured for the phase 1 manufacturing and installation of the RUBICON™, we have put in place the building block that supports our innovation in engineering this next generation technology for the commercial production of clean and sustainable baseload power via the proprietary RUBICON™."
Allen also explained that the financing demonstrates Dominovas Energy’s potential and relevance in global emerging markets, and notes that 100 percent of phase 1 of the project will be covered with the funding, putting the company on track for its budget in 2016.
According to vice president of Investments and Finance Eric Fresh, with this tranche of funding Dominovas Energy will "have the ability to seamlessly reassess its needs in order to potentially expand capital commitments, a necessity in accommodating subsequent financing phases of RUBICON™ system deployments."
With extended tenors of 20 to 30 years, the financing structure provides Dominovas Energy a unique opportunity to implement long-term, cost-effective project finance capital through which the company can "effectively and efficiently deliver on schedule its mandate of creating commercially-viable, clean, and sustainable energy solutions to global emerging markets."
The RUBICON™ is capable of reforming multiple hydrocarbon fuels to a usable syngas composition, converting the chemical energy of a fuel source into electricity using state-of-the-art SOFC stacks. This capability, along with the fact that the RUBICON™ uses a thermal process rather than combustion to outperform conventional power plants, provides Dominovas Energy a vast range of deployment opportunities. In other words, the RUBICON™ can produce more units of power with significantly less green-house-gas pollutants per unit of power produced.
Today’s news is one of several significant corporate milestones achieved by Dominovas Energy this year, as the company tirelessly works to provide reliable, clean, and efficient energy to emerging global markets.
For more information visit www.dominovasenergy.com
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