China invests in solar
towers, seeks investment
MELBOURNE - Cornerstone investment
secured from China into US based Solar Tower developer,
SolarMission Technologies Inc has been finalized in a
push to develop solar tower power stations in China.
Solar tower licence holder, SolarMission
Technologies, Inc has executed an investment agreement
with Sunshine Energy (Aust) Pty Ltd granting the
technology rights for the investors to build, own,
operate and maintain Solar Towers in China.
Sunshine Energy (Aust) Pty Ltd now holds a 5%
stake in SolarMission Technologies, Inc being a
placement at US$1.52 per share.
Finalization of
this investment leads the way for a formal joint venture
and profit sharing agreement between SolarMission
Technologies Inc and Sunshine Energy (Aust) Pty Ltd in a
China joint venture (company to be formed) that will
determine the role and involvement of all parties to
solar tower development in China.
SolarMissions
25% share holding in Australian Solar Tower developer
EnviroMission Limited, also represents participation in
development that has added value to the intellectual
property of solar towers. Progress made in Australia has
been critical to attracting international interest in
further commercial development of solar towers in key
markets where SolarMission is the licence owner.
As major shareholder of EnviroMission since its
public listing on the Australian Stock Exchange in 2001,
SolarMission Technologies Inc has been actively
implementing the global commercialization strategy for
solar towers.
SolarMission Chairman Roger Davey,
is also chairman and CEO of EnviroMission Limited and
oversees the integration of innovation and intellectual
property development for global market take-up of solar
towers. Australia has been designated the lead market
for commercialization of solar towers and is central to
the drive for full market adoption of groundbreaking
solar tower power stations into international energy
markets.
Solar tower commercialization prospects
have been substantially enhanced by Australian
development and SolarMission Technologies is now set to
fast track solar towers internationally for the benefit
of investors of both companies.
A single 200MW
solar tower power station is expected to deliver clean,
green renewable energy into existing electricity
distribution infrastructure by harnessing solar energy
to make a constant source of hot air to drive turbines
generating generate enough electricity for 200,000
households annually.
Source: SolarMission
Technologies Inc, communications@enviromission.com.au
www.solarmissiontechnologies.com
/www.enviromission.com.au
(Asia Pulse/MediaNet
International-Asianet)
|
