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Press Release today that they are looking at India.
© 2022 EnviroMission Ltd
238 Albert Road, South Melbourne, Victoria 3205, Australia
www.enviromission.com.au
24 February 2022
SHAREHOLDER UPDATE
ENVIROMISSION SIGNS JOINT VENTURE AGREEMENT FOR INDIA MARKET
EnviroMission Limited has signed a landmark joint venture agreement (JVA) with Dewan International
Limited and DP Solrenergy India Private Limited (SOLRE) for the granting of an exclusive licence to SOLRE
to develop EnviroMission’s Solar Cyclone Tower (SCT) renewable energy technology in the Republic of
India.
This agreement represents extensive consultations and negotiations informed by the terms of an
October 2021 memorandum of understanding (MOU) for the commercialisation of SCT technology in
India using a joint venture model. The JVA allows for the construction and operation of SCTs in India as
well as comprising a major step in the development of a working relationship, with further defining
documents to follow in the near future.
“This landmark agreement establishes the strong foundation that was envisaged by EnviroMission’s
founder and Executive Chairman, the late Roger Davey,” Pierre Koshakji, EnviroMission’s Executive Chair
said acknowledging Mr. Davey’s important role in achieving this joint venture.
“Mr. Davey and our partners recognised the opportunity and value from clean electricity, water
extraction and carbon capture available from EnviroMission’s SCT technology in India at a time of strong
social and political will that is reflected in India’s COP26 commitment.
“EnviroMission’s partners to the joint venture in India bring great enthusiasm, know-how and access to
resources necessary for the successful commercialisation of EnviroMission’s SCT technology,”
EnviroMission’s recently appointed Executive CEO, John Hassard, said in support of this agreement.
“The Dewan/SOLRE alliance considers this joint venture an historic opportunity for renewable energy
leadership on the global stage at a time when the legacy fossil-fuel economy is challenged to deliver the
many environmental, social and economic benefits that are available from emerging disruptive
technologies, which the SCT technology exemplifies,” Bipan Dewan, DP Solrenergy Chief Executive said
of the significance of the joint venture.
“This joint venture also represents exclusive, first to market opportunities, that we intend to seize for
the benefit of India and our shareholders. We are confident this will be a highly collaborative and
mutually beneficial commercial relationship with EnviroMission into the future,” added Mr. Dewan.
Ends
Enquiries: Kim Forte, EnviroMission Limited, +61414690356
Looks like something is finally happening
First tranche of the $15MM direct investment in to EVM is complete by Valentia (funds in the bank). $100MM direct project financing to come. Hugely encouraging for the prospects of someday seeing an updraft tower! Where will the first one be? Arizona, Texas, India?? Looking forward to concrete project news, hopefully soon!
There's also mention of the tower producing (!) 90 millions tons of pure water per year. This is not something we've been told about before (although the Manzares prototype tower did show plant growth under the canopy, suggesting the production/collection of lots of moisture in an otherwise arid area).
At New York City prices (to compare), 90bn kg of water (23 billion US gallons) that's almost $100 million _worth_ of water every year.
Incidentally, on Q Analytica's website, they put the capacity of the tower at "300MW", not the 200MW from the original plans. That's a huge increase, and by my estimations would result in a tower generating between $80-$120 million in revenue annually, depending on the terms of the PPA.
Some links on Q Analytica:
Their website page about EVM's tower:
http://qanalytica.com/multi-tech/renewable-energy/sut/
Their facebook page:
https://www.facebook.com/Q-Analytica-%D9%83%D9%8A%D9%88-%D8%A3%D9%86%D9%84%D9%8A%D8%AA%D9%8A%D9%83%D8%A7-395062480627100/timeline/
A random 2-year old PR about a JV with Total and Qatar Petroleum:
http://www.offshore-mag.com/articles/2013/02/total--qp--q-analytica-join-to-improve-oil-fingerprinting.html
Seems like a legitimate and well-backed company that could add a lot of momentum to Enviromission's commercialization plans!
News out -- a new HOA for Middle East & North Africa!
Enviromission (the company, not yet the share price) is on a tear lately. Not only do they have a HOA in place for Texas and Arizona (including having collected milestone fees in the millions of $), AND the recently announced $100 million investment and HOA for India, but today there is another agreement in place covering the Middle East and North Africa with a Doha-based entity!
http://www.asx.com.au/asx/research/company.do#!/EVM
In today's PR, they give the following details about the upside to EVM:
* partner to invest $1.5 million in EVM shares at A$0.20 (or market price if it's higher), which gives the partner the right to 10 million options at A$0.3 (expiring in one year)
* $3 million development rights fee due by Dec 15, 2015
* annual royalty fee of 1% of all project CapEx
* 10% of gross revenue once operational
* 21% equity stake in each tower (not dilutable below 15%)
This is all fantastic news. But they still have yet to break ground at any of the proposed sites, so it's not in the bag just yet...
News: Valentia release about their $110m investment in Enviromission
Valentia eyes EnviroMission Solar Tower edge
You can read teh full release here: http://www.yourrenewablenews.com/valentia+eyes+enviromission+solar+tower+edge_121935.html
I liked the summary of Valentia at the bottom -- they are a serious player in this space and lend enormous credibility to Enviromission's tower design:
My mistake. Aus $ is 1.4323 US $, so the conversion is more than that. ( even better )
IOW, the ADRs are trading at a discount to the shares.
I believe the ADRs traded on the US OTC represent 20 shares of ASX:EVM, so they normally trade in that ratio (albeit out of sync due to TZ differences and volume). You may be able to fiddle with a few ARDs that are out of whack, but I suppose not very many.
.115AU$ is $2.3 in US ADS. Time to buy.
The stock traded on the ASX went from $0.06 before the news, to $0.165 just before the halt, and then settled back at $0.115, so that's still a double from the pre-news levels, and with enormous volume too. I dont'follow the OTC ADRs, as it's even less liquid that EVM on the ASX.
The share price now is still way below the price the Japanese fund will invest at, and we're still in a period of no construction planned for any tower anywhere, so there is plenty of upside for the patient investor.
Still many things have to come to pass before this company has an equity stake in multiple operational power plants, but that's the plan and they're slowly moving things forward.
http://www.proactiveinvestors.com.au/companies/news/64305/enviromission-attracts-110m-in-solar-project-funding-trading-halt-64305.html
It's nice to see a placement in the company priced at over 3x the current market price. Shows tons of confidence.
Now we need to see Apollo or the Indian developer commit funds for construction, and all pre-construction studies/permits/paperwork cleared before we can see anyone break ground.
Slow and steady wins the race.
EVM shares halted on ASX as Enviromission releases news of a $110 million funding agreement with a Japanese fund. Shares were up almost 200% before the halt.
Huge congratulations to the Enviromission team for persevering all these years.
http://www.asx.com.au/asx/research/company.do#!/EVM
Info about the Indian Tower's developer:
Company RA Solar PV Ltd
http://rasolarpower.com/
RA Solar CEO Fred Hamilton:
https://in.linkedin.com/in/fredhamilton01
It seems RA Solar has an MOU for a PPA with Tata Power Trading Company Ltd.
Their website hasn't been updated in at least 18 months, mind you.. so I'll wait until the money changes hands to EVM before celebrating, but it looks promising.
Correction: as of this latest payment, Enviromission has now already received $1 million from Apollo for the Texas development rights, with another $1 million due by EOY.
That speaks volumes for the likelihood of the projects breaking ground and there being adequate funding for their construction.
Very nice! This company may well redefine what it means to be a patient investor (I have never held any stock for as long as I have this one, and we're not even there yet.. could be 2-3 years before this really breaks out).
News: EVM has received payment of 25% of the $1 million development licence for Texas!
This is big, as it marks the first time (?) Enviromission has ever been paid for their IP, after spending more than a decade designing the tower & trying to commercialize it.
The remaining balance of the licence fee to be paid by EOY 2015, and they'll carry a non-dilutive 20% equity in the Texas tower(s)!!
http://www.asx.com.au/asxpdf/20150619/pdf/42z8z6g87qz3t7.pdf
Well I don't know about Texas, but it sure looks like India is on the road to solar power, and Enviromission's up draft tower would fit nicely with their 100GW objective.
http://thinkprogress.org/climate/2015/06/17/3670558/india-makes-huge-solar-commitment-100-gigawatts/
2 updates on Texas and India:
India Solar Tower Development Update: http://www.asx.com.au/asxpdf/20150612/pdf/42z4wg4ckhbn4n.pdf
(in a nutshell, seems like their Indian partner has money in the bank to finance the construction of the first tower, and they have an off-take PPA in place)
Texas Development Rights Licence Update: http://www.asx.com.au/asxpdf/20150604/pdf/42z05t2f7pqyhm.pdf
(in a nutshell, they give Apollo more time to move forward, for an increase of 5% equity in the entity)
Nice to see things moving along... slow but not dead. Rather heavy trading on the ASX lately.
Then race is on to whom will be 1st to break ground
Yes, and sooo much time had passed since then. I've been an EVM shareholder for at least a decade now. They are making slow but steady progress, and have had their share of obstacles. But as opposed to SWET, EVM is the real deal IMO. If any solar chimney/tower gets built even, I'm betting it's Enviromission's.
Personally, I think SWET is a scam. Not the physics (necessarily), but the business plan, financing, and basically the entire outfit. (Edit: if not outright 'scam' then perhaps just a pipe dream not to be taken seriously).
Actually looks like a photo an information on working model is on this page
News: Indian tower HOA imminent, PPA signed, and funding secured. Wow, could India beat Texas and Arizona to the punch and put one of these things up, finally??
http://www.asx.com.au/asxpdf/20150205/pdf/42wfb85332dv68.pdf
There are not many longs here, IMO... or they are just lurking. This company has been around for ages but is relatively unknown (and their PPS has not done anything interesting for a very long time).
This technology and their potential commercialization plans are real, unlike, IMO, SWET.
The AZ tower is at a stand-still, although they continue to say they're advancing... as best I can tell all the paperwork (flora/fauna studies, env impact, permits) is done, but they just need the funds or partner to build it. It seems likely that the Texas towers may go up first, depending on how serious the Apollo team is (and they appear to be legit). Possibly the Middle East will beat them all to the punch.
I believe one of these solar chimney's will be built eventually, and I believe EVM/EVOMY has the best IP out there for something this nature. Pity oil prices have fallen as much as they have, and this always puts the brakes on solar... but I don't believe that low oil prices will last.
I am looking to start a position here in this, Solar tower looks very promising.
Just wanted to know if any Longs knew the progress of the Arizona tower construction? Heard power was due to SCPPA in Q1' 15
Cheers GLTA
Chairman addresses shareholders from late November:
http://www.asx.com.au/asxpdf/20141128/pdf/42v3wq2x2grs7v.pdf
EVOMY My Opinion of Recent PR !! Tells me Company working on it
Not really. MOU is a big term for what amounts to the fact that they are trying to qualify to be part of a DoE program and replied to their RFP. I fail to see how they can claim this is a "milestone MOU".
Lack of news in many month explains the PPS at 52-week lows. This news didn't help.
EVOMY PR News today $$$$$
SWET AZ Downdraft Tower opposite of EVOMY Updraft Tower
Next, the Middle East: Fringe Benefits and by-products from downdraft towers projected in the Middle East.
Read complete information in Energy Towers Brochure, updated December 2009, published by Prof. Dan Zaslavsky and others; pages 8 thru 10 at www.scribd.com/doc/30734361/Energy-Towers-Sharav-Sluices-Brochure-English-Dec-2009
Evaluation for the Desalinated Water Supply for California:
REF POST 3959 and 3973 of SWET Board on Investor Hub : Not to repeat myself, but unlike EnviroMission, Ltd., updraft energy towers, SWET’s downdraft towers were developed to produce “NOT ONLY” abundant clean electrical energy, but also to provide desalinated water to arid environments. The following excerpt was written by Dan Zaslavsky and others, dated May 31, 2006, page 24 thru 26;
4. Evaluation for the Desalinated Water Supply for California,
Mexico, Chile and Peru
The computation of sea desalinated water assumed that 20% of the power produced will be
used for it and the power consumption will be 3 kWh per cubic meter desalinated, then the
water quantity was divided by 1000 to find out how many people could be served, 1000 cubic
meter per person per year is a very rich state as far as water is concerned. To find the overall
potential one has to multiply by the number of small 20×20 km squares.
First consider in the last way in the middle east over 200,000 people set in one square or over
200 million cubic meters per square spread over 400 square kilometer, it means more than
half a meter water covering the whole land.
Taking the total electricity in a year over north Africa 59676×109 kWh/year can easily
provide nearly 10 billion people with electricity. This means that the whole of Europe and
Africa can be provided by cheap and clean electricity. Moreover, let us say that only one
billion people will be provided with 6000×109 kWh per year. Take 3 kWh per cubic meter
and only 20% of this power for water desalination and we shall have 400×109 cubic meter per
year, nearly 6 times the Nile for local water supply.
Taking 1753×109 kWh/year in Chile and Peru to supply electricity fully for to 290 106 people.
When with 20% of the electricity we can provide the same number of people with 403 m3/
capita/year. (Israel has only about 350 m3/capita before desalination.
http://scholar.google.com/scholar?oe=utf-8&rls=org.mozilla:en-US:official&client=firefox-a&channel=sb&um=1&ie=UTF-8&lr=&q=related:8fJeTHFHutFlKM:scholar.google.com/
Solar chimneys concept getting some press and interest in China -- including word of a prototype that's been around for a few years in Mongolia (that was news to me .. other than the one in Spain in the 1990's, I'd never heard of another prototype that had been built):
http://www.scmp.com/news/china/article/1487659/solar-chimneys-may-help-solve-chinas-energy-woes
Curious what "patents" the Chinese firm says they have filed, as EVM doesn't hold any patents that I'm aware of.
Same company. EVOMY shares are ADR (depository receipts) .. worth 20 ordinary shares.
Enviromision's home is the Australian Stock Exchange under symbol EVM (http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=EVM ). They are also traded on the Frankfurt exchange as ticker E8B (http://xetra.com/xetra/dispatch/en/xetraInstruments/gdb_navigation/trading/20_tradable_instruments/100_Shares/400_master_data?micid=XFRA&isin=AU000000EVM6 ).
Maybe EVOMF is the OTC-version of the Frankfurt shares?
Forgive my ignorance, I'm a newbie, but what is the difference between evomy at over a buck, and evomf at 6 cents? They appear to be the same company. Why the different stock and disparity in price? I've been following the solar tower technology for a few years and have always wanted to get in, but which stock would be the best to invest in? Does it make a difference if it is the same company?
the pps pulled back to the MA, time to buy more.
up 127% as of today. Go EVOMY.
Two things to note: the condition to the Heads of Agreement was the placement of $1.5MM. That had to happen before March 1 next year, but it has already taken place -- hot on the heels of this MoU. That should raise a few eyebrows. Secondly, I like the part that says "... with the capacity to own, build, and operate multiple Solar Towers". I look forward to finding our who the partner is, as to have granted them exclusivity in the Middle East (an optimal region for such power plants), I'm sure EVM wouldn't have signed away those rights with considerable assurances that this partner has the money and will to see the projects completed quickly.
Exciting times for those of us who've shared Davey's dream all these years of seeing these towers built! It finally appears that the money and political will (in some regions anyway) are finally aligned.
MIDDLE EAST SOLAR TOWER DEVELOPMENT DEAL UNDERWAY
EnviroMission Limited (ASX: EVM, OTCQX: EVOMY) has signed a landmark Memorandum of Understanding (MOU) on 1 December,2013 with a Middle East base development entity with the capacity to own, build and operate mu ltiple Solar Tower power stations in that region.
The MOU proposes the commercialisation of Solar Tower power stations in the Middle East through the acquisition of exclusive regional development rights, and informs a Heads of Agreement to that effect, to be executed on or before 1 March, 2014.
A condition precedent of the Heads of Agreement is the placement of an initial US$1,500,000 investment in EnviroMission AUD$0.10c per ordinary security with an attaching AUD$0.20 option (expiration date of 15 September, 2016) on or before 1 March, 2014.
EnviroMission will also receive a one-off fee, an annual technology fee per Solar Tower power station, and equity and board representation on a special purpose Solar Tower development vehicle to be formed and capitalised by the developer under the Heads of Agreement.
EnviroMission has previously announced it has moved towards a business model that utilises regional or market partnerships for equity, capital injection, one-off payments, and ongoing royalty fee arrangements to EnviroMission in consideration for the granting of Solar Tower development rights into selected markets with companies equipped to deliver Solar Tower development in those markets – this MOU reflects this strategic intent.
“This partnership has the potential to redefine the common perception of renewable energy and the way it is delivered – it is the intent to provide base load, predictable, non- intermittent clean power in a first for the Middle East,” “The MOU also represents a significant move towards the global market development of EnviroMission’s Solar Tower technology to further the commercial reach and potential for EnviroMission’s shareholders,” Roger Davey, EnviroMission Chief Executive said.
Further details will be released to the market on execution of the Heads of Agreement.
Enviromission signs MOU for solar tower development in the middle east:
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01473148
Slow and steady wins the race, but I still cannot wait until one of these towers finally breaks ground. Nice to hear Texas and the M.E. are putting their money behind this technology.
Been following this company for more than ten years, and have a modest position as of today, but at a great price. Should the company show real traction with their business model and provide shareholders with tangible reasons to be optimistic, I will certainly be increasing my position.
I hope that you already had your stock. There is a gap up coming on the Third. I have never heard of such a long trading halt for good news.
Trading halt requested by the company on the ASX until Tuesday. Exciting.... maybe some new partnerships in the Middle East or India?
Well, they continue to claim that they have financing for the Arizona project, however, the California people pulled their contract to buy the power, so it will not get built until they sell the power. The same goes for Texas.
Now, Texas is a power grid unto its own. ( We have the East and West power grids and Texas. ) So, that is an interesting story in its own right, but it also means that Texas is more likely to get built.
However, nothing is getting built right now. Site preparation is not the same putting $750 million into a generator.
EVM shares (on ASX) surge +50% on 10x normal volume. Apparently because of this article:
http://www.parkerpioneer.net/articles/2013/10/16/news/doc525c72d563dbe032651912.txt
However, EVM denies any knowledge of what caused the surge since they claim the project was never at risk in the first place.
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01454338
Still, the fact that they are setting up a website to communicate project status does seems to imply they expect some movement.
That is good news.
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