Dominovas Energy Acquires Independent Power Producer License From the Angolan Ministry of Petroleum
ATLANTA, GA--(Marketwired - Nov 11, 2015) - Dominovas Energy Corporation (OTCQB: DNRG) announces the authorization of an Independent Power Producer license from the Angolan Ministry of Petroleum. Granted on October 5, 2015, the license authorizes Dominovas Energy to provide clean and reliable electricity to companies within the oil and gas industry, including the parastatal Sonangol Group. Such an exclusive license is a capstone of the work Dominovas Energy's executives have put forth to carry out its mission of the commercial proliferation of its SOFC fuel cell technology, the RUBICON™.
Sub-Saharan Africa's second-biggest oil producer, Angola is a leader in the deployment of advanced technologies that allow for increased production, efficiency, and economies of scale of on-shore and off-shore oil production. Angolan oil-producing platforms require over 1200MW of electricity each day, and its drilling platforms require nearly 1220MW of electricity each day. Over the next 5 years, new oil fields on-shore and off-shore will necessitate upwards of 2000MW of electricity per day. The RUBICON™ SOFC system meets industry objectives most adroitly and efficiently. Dominovas Energy Chairman and Chief Executive Officer Neal Allen expressed, "This license positions us at the epicenter of the Angolan economy as a provider of electricity to the country's most vital and profitable industry."
Acquiring the Independent Power Producer license brings Dominovas Energy to the forefront of providing clean and sustainable, base-load, multi-megawatt electricity in Angola through its proprietary RUBICON™ SOFC system. President of the Africa Division for Dominovas Energy Emilio DeJesus added, "Dominovas Energy's RUBICON™ system is the only fuel cell-based technology solution to be granted an Independent Power Producer license in the country. This demonstrates the Angolan leadership's commitment to new technologies, allowing for positive stewardship toward minerals and resources."
Located in Southern Africa and bordered by the Democratic Republic of Congo, Zambia and Namibia, Angola is a diverse country with vast mineral and petroleum reserves. The country's economy is among the fastest growing in the world. Sonangol, the state-owned oil and gas company, recently announced the public tender of additional on-shore oil and gas fields. Due to the high number of companies interested in these new oil fields, this industry will continue to grow and be one of the country's main sources of revenue. Angola is a member state of the United Nations (UN), Organization of the Petroleum Exporting Countries (OPEC), African Union, the Community of Portuguese Language Countries, and the Southern African Development Community (SADC).
About Dominovas Energy Corporation (OTCQB: DNRG)
Founded in 2005, Dominovas Energy Corporation is a publicly traded company based in Nevada. With its operating headquarters in Atlanta, Georgia, USA, Dominovas Energy Corporation is a leading power solutions provider to emerging markets around the world. Dominovas Energy employs its proprietary RUBICON™ Solid Oxide Fuel Cell (SOFC) technology for deployment in multi-megawatt power generation units worldwide. The worldwide pursuit of clean and efficient production of electricity via Solid Oxide Fuel Cell technology inspired its founders to create an "energy solutions" company. Recognizing that "green" and "alternative energy" markets offer immense potential for growth, Dominovas Energy is aggressively moving to allocate its intellectual and financial capital forthwith, in order to strategically address a green energy solution that is 100% reliable, efficient, and measurably cleaner than GenSets and CCGT. By manufacturing and deploying the RUBICON™ throughout of the world, Dominovas Energy is committed to creating shareholder value by not only generating guaranteed revenue streams, but also by increasing the value of "human and community capital." Devoted to core values by operating under the utmost of honesty and integrity in all its business transactions, Dominovas Energy is additionally dedicated to respecting the rights of all individuals while remaining humble to cultural differences of communities and countries in which it operates. The Company strongly believes in the impact this singularly advanced technology will make on the world and is resolute in its mission to provide electricity where and when economically viable.
For more information, visit www.dominovasenergy.com
This press release, as well as other statements made by Dominovas Energy Corporation (the "Company"), contain forward-looking statements that reflect, when made, the Company's current views with respect to current events and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to the Company's operations and business environment, which may cause the actual results of the Company to be materially different from any future results. All statements that address future operating, financial or business performance or the Company's strategies or expectations are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements as is applicable would be discussed under captions as follows: "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's filings as would be filed with the Securities and Exchange Commission as required. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. It should be remembered that the price of the ordinary shares and any income from them can go down as well as up. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise, except as may be required by law.
(November 11, 2015 - 9:01 AM EST)
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