ATLANTA, GA–(Marketwired – Jun 8, 2015) – Dominovas Energy Corporation (OTCQB: DNRG), an energy-solutions company headquartered in Atlanta, GA, announces the execution of a 3MW, multi-year guaranteed Power Provider Agreement (PPA) to provide electricity to the City of David, in the Democratic Republic of the Congo, via its proprietary RUBICON™ Solid Oxide Fuel Cell system. The City of David is a public-private partnership (PPP), between the government of the Democratic Republic of Congo and a private enterprise, which will comprise 3,000 homes, a hospital, health clinics, schools, malls, parks, food markets, sports centers, police stations, and waste treatment facilities across 8,000 hectares. The Project is being supported and promoted by the Governor of the State of Katanga in the Democratic Republic of Congo, and represents the first of many efforts the Governor is pursuing across his State to increase the availability of affordable housing and social facilities. The State of Katanga, affectionately known as the “Crown Jewel of Congo”, is located in the eastern part of the Democratic Republic of Congo; and has one of the largest certified concentrations of copper, gold, diamonds, and bauxite in Africa.
The physical deployment of the RUBICON™ in the Democratic Republic of Congo is revolutionary and is expected to begin in Q4 of 2016. The 3MW installation is the largest single deployment of fuel cell technology on the continent of Africa, and it represents a paradigm shift in the Democratic Republic of Congo’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 and combined-cycle gas-fired turbine (CCGT) power plants.
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$100 million in guaranteed revenue to Dominovas Energy over the multi-year term PPA. As announced in 2014, Dominovas Energy’s efforts are supported via its partnership with Delphi Automotive Systems LLC, a subsidiary of Delphi Automotive PLC. The partnership with Delphi was formed to jointly develop the technology and methodologies necessary to facilitate the commercial manufacture, assembly, and deployment of the RUBICON™ system. The strategic partnership fully supports Dominovas Energy’s continued deployment of clean energy solutions on a multi-MW scale, in every market the Company has engaged to deploy the RUBICON™.
Emilio De Jesus, President of Dominovas Energy African Operations, enthusiastically expressed, “I am excited about this historic deployment of the RUBICON™ that will support the City of David project.” DeJesus and Mr. François Nyamulengwa, Dominovas Energy’s country Managing Director, are equally enthusiastic and have shared that they are additionally looking forward to the Company’s continued engagement with the Democratic Republic of Congo, knowing that the country is dedicated and leading the charge in the “clean and efficient energy” movement. Nyamulengwa notes that, “President Kabila’s leadership and foresight will allow the RUBICON™ to make a tremendous difference in the lives of millions in the Democratic Republic of Congo, and Dominovas Energy is honored to have been given this opportunity. We look forward to establishing a new paradigm for the future of how energy is distributed across the entire continent.”
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 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 the its GDP. The country is home to some of the largest mineral reserves in Sub-Saharan Africa.
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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