Eco Investor February 2015

Pre-Revenue Securities

Solar Thermal Project for Enerji

Enerji is to develop a 10 MW Hybrid Solar Thermal Project with partners Carbon Reduction Ventures Pty Ltd (CRV) and Morawa Solar Thermal Pty Ltd (MST). The $15.1 million project is supported by the WA Government through $3.775 million from the Low Emissions Energy Development (LEED) Fund.

CRV is a developer of advanced solar and hybrid solutions and is the project's proponent. MST is the project vehicle and has the LEED funding.

The Project includes the ATEN 3 technology developed by Enerji, and an Opcon Powerbox.
The project will have zero emissions with all of the energy to drive the power generator coming from what said to be a ground-breaking hybrid arrangement combining solar thermal energy with waste heat. The Solastor System, which stores energy in high temperature graphite, is supplemented by waste heat harvested from the exhaust of a fossil fuel power station.

Meanwhile, Enerji has entered into a funding agreement with Metamor Capital Partners under which Metamor will loan Enerji up to 80 per cent of its accrued and available R&D rebate. The amount of the 2014 rebate is estimated to be about $600,000 and the funding provided by Metamor is $500,000. Metamor holds security over the R&D Rebate and Enerji's assets. The facility will be repaid out of the R&D Rebate, expected in the second quarter of 2015 and no later than 30 April. The arrangement enables Enerji to progress its "Five-Projects" strategy that focuses on a pipeline of five commercial projects. The Hybrid Solar Thermal Project is one of these. (ASX: ERJ)

 

 

Adverts

 

 

 



 





Search Eco Investor


Adverts