Today before the opening bell, Dominovas Energy Corp. announced a historic partnership with the United States government. By deploying its modular, off-grid RUBICON™ Solid Oxide Fuel Cell systems, Dominovas Energy has been named as the first, and only, fuel cell company selected as a private sector partner to President Barack Obama’s POWER AFRICA INITIATIVE. This initiative is a multi-stakeholder partnership comprised of private sector participants, the United States government and governments of several African countries, including but not limited to the following Power Africa focus countries: Ethiopia, Ghana, Kenya, Liberia, Nigeria and Tanzania. The implications of this partnership extend beyond public and private sector engagement as these entities intend to nurture and accelerate private sector investment in Africa’s power sector over the next several years.
Power Africa partners represent the foundational support in building the regulatory, economic, and policy framework integral to meeting Africa’s increasing demand for, and access to, electricity. Dominovas Energy feels it is perfectly positioned to meet the supply needs of an ever-increasing demand for clean and reliable electricity throughout sub-Saharan Africa.
The energy solutions company anticipates that this partnership will continue to catalyze the resources and combined commitment of numerous U.S. government agencies, as well as the World Bank Group, African Development Bank (AfDB), and many additional Power Africa partners, to facilitate Power Africa’s objectives, operations, and related sector investments. As a Power Africa member company, Dominovas Energy will actively engage relevant U.S. agencies to fully employ the participating agencies’ tools to ensure any financing and capacity gaps that may exist can be addressed directly, specifically with respect to existing and incremental energy sector investments. This enables Dominovas Energy to benefit from interagency efforts, by leveraging Power Africa’s tools including, but not limited to technical expertise and financing; while enhancing project bankability by implementing various risk mitigation tools, as it is available through the select agencies comprised in the Power Africa Initiative. Dominovas Energy has committed to adopting, adhering to, and undertaking the required policy framework for specific projects, so it and other companies can effectively fulfill their commitments to invest in the further enhancement and development of the power infrastructure in sub-Saharan Africa.
Michael Watkins, Dominovas Energy’s COO & President of its Fuel Cell Division, states, “This partnership not only demonstrates Dominovas Energy’s commitment to emerging markets, but it also firmly positions the United States as a reliable and robust ally to Africa, respective of its long-term power needs.”
Over the next several years, as part of its commitment to Power Africa, Dominovas Energy intends to support and advance Power Africa goals by providing access to clean, reliable energy; partnering with specific universities in Africa to train and hire local citizens as engineers and technicians, as necessary for the installation, service, and ongoing maintenance of the RUBICON™; and providing Power Africa countries with access to distributed, off-grid electricity on a multi-megawatt scale.
According to today’s press release, deployments of the RUBICON™ are expected to increase the quantity of power available to over 100 million people by 2021, via multi-megawatt capacity installations. Dominovas Energy’s investment will directly benefit citizens, households, and businesses by producing clean, reliable, and continuous energy.
For more information on the company and its fuel cell technology, visit www.dominovasenergy.com
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