Dominovas Energy Corp. (fka DNRG)

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NEWS http://finance.yahoo.com/news/dominovas-energy-enters-formal-negotiations-151800380.html

ATLANTA, GA / ACCESSWIRE / February 2, 2017 / Dominovas Energy Corporation (OTC PINK: DNRG) announced this morning that it is in formal negotiations with local partners in India and Indonesia to secure power generation projects in these countries. Last year, Dominovas Energy conducted and completed a market analysis in both countries and verified that there is a tremendous growth and commercial potential for the advancement of the proliferation of its RUBICONTM fuel cell energy generating system. The support at the government and local level for an energy-efficient and commercially viable power generation system is sufficient, viable, and conducive for the RUBICONTM deployment in India and Indonesia. The effort has been ongoing and is being led by Dominovas Energy's Executive Vice President for Fuel Cell Operations, Dr. Shamiul Islam who is originally from Bangladesh.

The formal negotiations with the local partners, as led by Dr. Islam, have allowed the company to identify specific opportunities for timely engagement in terms of evaluating project size, location, fuel price, and availability in addition to government support. Supporting the opportunities will be the execution of Memorandums of Understanding (MOU), requisite financial and bank guarantees, along with bankable government supported Power Provider Agreements (PPAs). In aggregate, the potential project opportunity and market penetration is greater than 25MW per year for the RUBICONTM deployment in these markets.

Dr. Islam noted, "We will continue to expand within this market, as I know and have experienced firsthand the need and significant demand for the RUBICONTM. I am very pleased that we were able to evaluate business opportunities with our local partners in India and Indonesia in a very short period of time. India and Indonesia have long had a history of accepting and benefitting from advanced technologies. The RUBICONTM has been embraced with open arms, which is a testament as to why both India and Indonesia continue to be tech industry leaders and innovators. Having highly-educated and informed local partners, government support and infrastructure in place, Dominovas Energy will press forward for the deployment of its RUBICONTM system in both India and Indonesia." Chief Operating Officer and President of the Fuel Cell Division, Michael Watkins, noted, "As an energy solutions company, it is important that Dominovas Energy continues to advance the delivery of our RUBICONTM systems not only in Africa, but worldwide, wherever opportunities exist. A diverse client base platforms and positions Dominovas Energy for the maturing of the supply chain of the RUBICONTM fuel cell that is necessary for us to expect and realize a future and ongoing revenue stream in the near future. This strategy is consistent with, and furthers our mandate to become a profitable global energy leader."