EnviroMission Ltd. (EVOMY)

[tykundegex]

Not too much happening with the company since the PPA with the SCPPA was pulled. We have no tangible news about the Texas or Arizona towers, other that this, released last week:

Enviromission is pleased to announce a further tranche of US$100k of the US$2M Solar Tower development license fee due to be paid to EnviroMission has been received from Texas based developer, Apollo Development LLC.

Apollo is on track to meet the terms of the Heads of Agreement to obtain the Solar Tower development license for Texas from EnviroMission, and has informed EnviroMission it has identified sites in the El Paso region suitable for the development of up to three Solar Towers.

"Each tranche received from Apollo inched the transaction closer to full satisfaction of the terms of the Heads of Agreement that will expand Solar Tower development in to a second market in the US", EnviroMission Chief, Roger Davey said.

EnviroMission's US based subsidiary, EnviroMission Inc. continues to work with development partners in Arizona to move Solar Tower development forward in La Paz.

Development modelling has shown EnviroMission and Apollo can reasonable expect benefits from simultaneous development in Arizona and Texas through economies of scale.

"Simultaneous development is an agenda priority shared by EnviroMission and Apollo", Mr. Davey said.

ref: http://www.asx.com.au/asxpdf/20130904/pdf/42j4zz5wwy1p0m.pdf


I did a little digging into Apollo, and it turns out one of the directors is a former Director at Stream Energy, which is encouraging.

http://www.linkedin.com/pub/mike-rowley/4/675/8a8/