DALLAS, Dec. 16, 2013 /PRNewswire/ -- EnviroMission
Limited (ASX: EVM, OTCQX: EVOMY) Chief Executive, Roger Davey, has agreed to Chair the board of
Dallas based renewable energy
newcomer, Apollo Development LLC, ahead of financial close of a
deal to assign exclusive Solar Tower development rights in
Texas to Apollo.
"EnviroMission representation on Apollo's board was always a term within the
Heads of Agreement and Mr. Davey's appointment as Chair aims to
elevate EnviroMission's role to provide a strong Solar Tower
narrative to support Apollo as it
prepares for a full launch of operations in Texas in early 2014," Apollo Director of Communications,
Domenic Carlucci, said from
Dallas.
"Acceptance of the role of Chair of the Apollo board emphasizes EnviroMission's global
role to facilitate a robust flow of information between regional
developers in Texas, La Paz and the Middle East where the sharing of information
and innovation is expected to provide broad mutual benefits,"
EnviroMission Chief Executive, Roger
Davey, said.
EnviroMission will deliver regional oversight and support via
board and advisory input and will receive non-diluting equity
participation, development fees and ongoing royalties from
Apollo as it delivers local energy
industry expertise and capital to strengthen the Solar Tower
development proposition in Texas.
Apollo pre-feasibility analysis
shows strong prospects for multiple Solar Towers in Texas and points to regional opportunities
anticipated from the State's investment in $4.5 billion dollars in transmission lines from
areas designated as Competitive Renewable Energy Zones (CREZ) to
load centers to ensure renewable energy is able to be transported
into the energy market.
Renewable energy has strong support in Texas and interest in Solar Tower technology
as an energy alternative was recently expressed in the views of
Marta Greytok, the former Chair of
the Public Utility Commission of Texas, "EnviroMission's Solar Tower technology
is a perfect fit for the future of Texas electric generation with the ability to
generate electricity from solar energy without pollution or the use
of precious Texas water
resources."
"Solar Tower technology has the potential to fill base load
requirements and should be included in the eventual replacement of
the aging fleet of Texas
generators – Texas needs Solar
Towers!" Ms Greytok said.
SOURCE EnviroMission Limited