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| Share Name | Share Symbol | Market | Stock Type |
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| Wasabi Energy | WAS | London | Ordinary Share |
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| 0.00 | 0.00% | 0.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
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Posted at 26/11/2014 20:59 by flyingswan George Lockett, at Q & A with Energy Secretary Ed Davey at Energy Live 2014 - asked a question about development of Offshore Geothermal. The question was asked 24 minutes 45 seconds into the recording and ends at 27 minutes 30 seconds. Please see video below and share this, if you would like to see Geothermal Energy developed in the North Sea: |
Posted at 31/12/2013 15:25 by jwoolley Scargs & flashheartIt's always nice to hear a little glimmer of hope but I would take what driller50 says with a pinch of salt....he is part of the ramping crew linked to Zaks Trading Cafe and post across various boards with various different alias'. There is always a possibilty that we may get some monies back from the voluntary administration, but it is quite likely that we will get nothing. Zaks Trading Cafe knows nothing more than anybody else out there and rest assured there are no current rumours to the like what he is stating. Remember it was him that was stating that there was a new website and it was lies.....it was also him stating a very high percentage of placing taken....and he was very wrong......do not believe everything you read on these bb's.... Just for your info, I am a large holder of WAS and have nothing to gain or lose by posting this message... Heres hoping we get something out of this...all the best!! |
Posted at 27/11/2013 13:40 by firefox6 Wasabi Energy chairman: Rights issue required to realise potentialBy Jamie Nimmo November 27 2013, 1:23pm Wasabi is hoping to raise £8.7mln through the rights issueWasabi is hoping to raise £8.7mln through the rights issue Wasabi Energy's (LON:WAS, ASX:WAS) chairman John Byrne insists the discounted rights issue was necessary and will ensure the power specialist fulfils its potential. The company, whose Kalina Cycle technologyturns excess heat back into power, outlined plans to raise up to £8.7mln at 0.4 cents per share (0.225p), sparking a 20% fall from the share price, which now stands at 0.227p. The rights issue will be offered to shareholders on the basis of one new ordinary share for every one ordinary share held. Only investors based in Australia, New Zealand, Switzerland and the UK can take part in the offer. The funds will be used to complete the purchase of the Tuzla geothermal power project in Turkey, redeem the secured debt and for working capital. "The market's known we've been unfunded for a while and we wanted to put an end to it," chairman Byrne told Proactive Investors. "So rather than do a little one, we've said we're going forward full-on, one-for-one, all shareholders." As a major shareholder he owns 11.1% of the company's issued share capital Byrne says he understands the pain felt by shareholders on the receiving end of the discount. "I'm up there, I've bought more than anybody. I'll be taking up my entitlement and I think some of our biggest shareholders will as well." Byrne reckons it will be the last time it comes to the market for funding. Once the company becomes cash generative as its power plants come online, it will fund itself. "I think this gets us through," he continues. "We've tried to put it off in the hope that we'd get the other things done, but that has not occurred. "Everyone's an expert in hindsight. I was obviously holding off to do it higher and what's happened is that it's gone the other way. That's my responsibility, but I've got to say I'll be taking up my interests." He adds: "We need to be in a strong financial position and grow from here and that's the plan." Wasabi has an option to acquire up to 50% of the Turkish company which owns Tuzla. A recent financial draft of plans at Tuzla showed an indicative net present value (NPV) of A$142 million, an internal rate of return (IRR) of 57% and EBITDA (underlying earnings) of A$19.6mln. The potential of the Asian business, which is gearing up for an IPO, is thought to be even greater as demand for power soars in China. Management hopes the funds raised from the rights issue will help it deliver its goal of having 25MW of power generation under its watch by the end of 2015 and growing this by 25MW a year thereafter. "If we achieve this growth, every 25MWe of owned power generation (assuming 10c per kwh feed in tariff and 8% discount rate) represents an estimated increase of approximately $120 million NPV per annum," Byrne explains. |
Posted at 06/11/2013 09:47 by moreforus Wasabi Energy Limited Exercise of OptionsAlert TIDMWAS RNS Number : 3341S Wasabi Energy Limited 06 November 2013 6 November 2013 Wasabi Energy Limited ("Wasabi," "the Group" or "the Company") Exercise of Options Wasabi Energy Limited (ASX: WAS, AIM: WAS, OTCQX: WSBLY), advises that 293,402 options have been exercised at 0.8c each. Application has been made for the 293,402 Ordinary Shares issued to be admitted to trading on the AIM market and admission is expected to take place on 11 November 2013. Following admission of the above shares, the Company will have 3,718,761,160 Ordinary Shares of no par value in issue. The above figure 3,718,761,160 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules For further information, please contact |
Posted at 17/10/2013 19:46 by peteark UPDATE - Wasabi Energy to bag over US$70mln from Turkish geothermal projectBy Jamie Nimmo October 17 2013, 3:40pm Wasabi Energy (LON:WAS, ASX:WAS) shares powered up on Thursday as its Turkish expansion plans were validated by some impressive numbers from its pre-feasibility study. A financial draft of plans at the Tuzla Geothermal Power Project (TGPP) showed an indicative net present value (NPV) of A$142 million, an internal rate of return (IRR) of 57% and EBITDA (underlying earnings) of A$19.6mln. The study was based on the installation of one of its 30 megawatt (MW) Kalina cycle units, which turns excess heat back into energy. The PFS, which was put together by a number of third parties, including US-based Power Engineers, said power can be generated from Tuzla as early as the second half of 2016. Wasabi's wholly-owned Turkish subsidiary Imparator Enerji has an option to acquire up to 50% of the Turkish company which owns Tuzla. Its 15 MW share of the plant can net Wasabi more than A$70mln. It has invested around A$10mln on the acquisition and development of the project so far and plans to spend another A$3.7mln before the end of the year. The 57% IRR means the company will earn this money back in less than two years from the start of power generation. Wasabi, whose shares jumped over 20% to 0.38p, said the expansion project was underpinned by an updated resources estimate. This signalled that the most-likely size (P50) of the Tuzla geothermal resource is potentially greater than 80 MW, confirming the findings of past studies. Chairman John Byrne said: "The results of the pre-feasibility study underline the Wasabi Group's stated objective of having 25 MW of power production directly attributable to Wasabi either under construction or in operation by 2015 and maintaining that minimum growth at that rate thereafter. He added in the statement that the Tuzla project alone has the potential to deliver 18.5 MW towards its 25 MW objective and "indications are that our Asian subsidiary can more than provide the balance". In fact, Byrne believes China has the potential to generate as much as 100 MW alone for the company and "maybe even a lot more than that". "What we're looking at with Wasabi New Energy Asia is far bigger than Turkey," he told Proactive Investors. "This [Turkey] is a real project that puts real value behind the company, well over its current price. Our job now is to take this forward and deliver a couple more." The company hopes to complete a bankable feasibility study for the project next year, adding that it only needs to drill around four wells as part of the phase one build-out, which will give it the information required to make it bankable. Byrne said the company is open to a number of funding options to get the project up-and-running. "We don't think our equity requirements will be any more than US$10mln pretty much typical of the type of projects we are looking at, certainly in China, certainly elsewhere. "We've always said that if we can get this going, the cash flow from the operation will quickly cover the equity requirements for continued expansion." As an existing power plant, Byrne does not see any risk in developing Tuzla with the Kalina cycle unit. He reckons there is a good chance all three of Wasabi's Kalina Cycle plants currently under construction can be operational by the end of the year. Two of them are currently being commissioned. Shares rose 11.11% to stand at 0.35p. |
Posted at 15/8/2013 11:51 by freddie01 UPDATE ON WASABI NEW ENERGY ASIA AND ISSUE OF SHARESThe Directors of Wasabi Energy Limited (ASX: WAS, AIM: WAS, OTCQX: WSBLY), advise that the next instalment of RMB18 million (US$2.85m) has been paid by its subsidiary, Wasabi New Energy Asia (WNEA), for the purchase of Shanghai Shenghe New Energy Resources Science and Technology Limited (SSNE). As previously announced in November 2012, Wasabi, through its subsidiary, Wasabi New Energy Asia Limited, agreed to purchase 50.5% of SSNE for approximately US$30 million. To date US$22 million has been paid (US$8.2 million in cash, and WNEA has issued 30 million shares at US50c each). The balance of RMB53 million (US$8.30m) is due before 30 November 2013. WNEA has appointed an international brokerage house in Hong Kong to complete a pre-IPO fundraising within this timeframe. It is planned to list WNEA on the Singapore stock exchange in the first half of 2014. Wasabi granted an option for the vendors to take 31.25% of their WNEA share consideration in Wasabi shares at A1.8c per share (WNEA Option). The vendors have exercised this option and as a result the vendors have been issued 288,001,844 new Wasabi shares at A1.8c per share. Following the exercise of the WNEA Option, Wasabi owns 40 million shares (66.67%) in the issued share capital in WNEA. In addition, Wasabi has provided loan funds of $5.6m to WNEA in order to facilitate a proportion of the above payments. This loan will be converted into additional shares in WNEA at the time of the IPO at US50c per share. Wasabi New Energy Asia is being established to address the energy efficiency and renewable power needs of the Asian market. SSNE has been operating within the market in China since 2007 and has already completed a number of projects including the successful powering of the Shanghai Corporate Pavilion at the World EXPO held in Shanghai in 2010 with a Kalina Cycle® power plant using a solar thermal array as the heat source. Comments from the Chairman, John Byrne: "Wasabi is establishing WNEA as a significant power producer in the Asian region utilising its unique ownership of the Kalina Cycle® and Enhanced Rankine cycle technologies. The establishment of WNEA is progressing the Wasabi plan of regional subsidiaries to expand into key global regions. WNEA is in the process of a pre-IPO funding round and our plan is to list WNEA on the Singapore market during 2014. Wasabi Energy intends to hold a significant shareholding in WNEA which will raise its own capital with the value of WNEA being reflected back into the Wasabi Energy balance sheet. The Asian markets, and in particular China offer an enormous opportunity for the Kalina Cycle®. We are in advanced discussions with a number of significant leading industrial companies on the application of the Kalina Cycle® to their operations." Wasabi New Energy Asia WNEA has been established as a regional subsidiary and covers the Asian region. In addition to owning 50.5% of SSNE, WNEA also own the revenue stream from the SSNE Kalina Cycle® license which covers China, Taiwan, Hong Kong and Macau. It also has a Kalina Cycle® license for the rest of Asia, namely Japan, South Korea, Indonesia, Philippines, Thailand, Vietnam, Malaysia, Singapore, Myanmar, Cambodia, Laos, Brunei, North Korea and Mongolia. Under the current 12th Five Year Plan the Chinese Government is mandating energy efficiency across a range of industries and renewable power. The transformational phase in China presents a unique opportunity for SSNE to pursue opportunities for power generation within China and Taiwan and to use this base and engineering capability to launch into other parts of Asia. SSNE is in the final stages of commissioning of a 7.5 MWe Enhanced Rankine power plant at China Building Materials Group's Guizhou cement plant. The Enhanced Rankine process offers significant percentage gains over the traditional Rankine steam cycles. In addition the 4 MWe Kalina Cycle® power plant at the Sinopec Hainan Petrochemical Facility is under construction with the civil works completed. SSNE is in advanced stages of discussions for a number of projects, including Chinese authorities on the development of an oilfield in China that has potential for geothermal power using the hot water within the field. The estimated power from this heat source is in excess of 1000MWe using Kalina Cycle® technology. WNEA, through Recurrent Engineering, expects to be awarded shortly an engineering contract by the Geothermal Energy Research & Development organisation (GERD) as a follow up to the EcoGen Kalina Cycle® unit that is installed at the Matsunoyama onsen in Japan. This plant was installed in December 2011 and has undergone significant testing to refine the design for the micro power geothermal market. The Ecogen Kalina Cycle® 50 kWe power plant has been specifically designed for use on hot springs. The geothermal power potential in the hot spring market within Asia is vast with over 27,000 occurrences in Japan alone. The enhanced thermodynamics of the Kalina Cycle® presents an opportunity for the establishment of micro power Ecogen Kalina Cycle® plants in Asia. Based on estimates by GERD and Wasabi Energy the existing Japanese hot spring market could potentially sustain approximately 718 MW of power generation potential which represents more than 14,000 EcoGen Kalina Cycle® units. Japan will be a key focus area for WNEA given the high feed in tariffs that are in excess of US$0.50 per Kilowatt hour for geothermal power generation. Following admission of the above shares, expected to be on 21 August 2013, the Company will have 3,718,173,710 Ordinary Shares of no par value in issue. The figure of 3,718,173,710 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules. |
Posted at 02/8/2013 16:59 by freddie01 WHR in the cement industry Part 1: Conventional Rankine CycleIntroduction The trend towards increasing costs of primary energy sources such as fossil fuels, and the need to reduce harmful emissions particularly of carbon dioxide is driving a worldwide effort to improve the efficiency of energy usage in industrial processes. Estimates suggest that roughly 66% of all the energy input is lost as waste heat and in the cement industry specifically the loss is estimated as 40%. With the tendency towards ever more stringent environmental constraints and the need to reduce the carbon footprint for individual organisations, the potential to generate electrical energy from waste heat will continue to be an attractive option. The first major waste heat recovery (WHR) system in a cement plant was the 15 MW unit installed by Kawasaki Heavy Industries for Taiheiyo Cement in 1982. This was a conventional Rankine Cycle using heat from both the kiln and the clinker cooler. As the benefits became generally recognised within the industry, WHR units, the vast majority of which involved the conventional Rankine Cycle, were installed to provide up to about 30% of the power requirements of the plant. The main sources of waste heat were the exhaust from both the preheater and the clinker cooler and, in some of the developing countries where power outages are not unusual, the WHR system may be the only source of reliable power available to the plant operator. Improvement in the overall efficiency of cement manufacture has resulted in lower exhaust gas temperatures and this development has provided opportunities for alternative technologies, notably the Organic Rankine Cycle (ORC) and the Kalina Cycle, which are more effective in recovering waste heat from lower temperature gases. Conventional Rankine Cycle By far the most widely used technology for the generation of power from waste heat involves the Rankine Cycle. As the name suggests, the conventional Rankine Cycle involves the transfer of heat from the waste heat source to convert water from the condenser to steam, which is then superheated i.e. heated to a temperature above the saturation temperature at the given plant operating pressure. Subsequently, the steam is expanded through a steam turbine driving the generator to produce power. This is the process used in conventional fossil fuel-fired power plants, but in the case of WHR in cement plants the maximum temperatures are much lower usually in the range of 300 to 350 °C and consequently the plant operating pressure is also significantly lower, i.e. around 2.5 MPa (25 bara). In order to maximise the efficiency of the cycle, the pressure in the condenser is minimised, which will affect the steam quality, thereby increasing the content of water droplets that can cause erosion of the turbine blades. In a cement plant there can also be significant variations in the temperature of the hot air emerging from the clinker cooler, resulting in variability in the steam temperatures in the system, potentially exacerbating the erosion problem. A key point is that if waste heat from both the preheater and the clinker cooler is used to generate power it is necessary to provide two boilers, i.e. one for each heat source, and this adds to the cost and complexity of the system. A good example of the current trend towards larger WHR plants is provided by Najran Cement Company of Saudi Arabia, which commissioned the Chinese company, Sinoma Energy Conservation Limited, to install a turnkey unit at the Sultana cement plant. The WHR unit is designed to provide 27 MW of power at a projected cost of just less than US$45 million and will be the largest WHR unit in the global cement industry in terms of generating capacity. The system consists of a total of eight boilers plus associated equipment using waste heat from the cement plant along with ten boilers taking waste heat from diesel generators. It is estimated that CO2 emissions will be reduced by 145 000 tpa when the plant is fully operational. |
Posted at 17/5/2013 11:02 by freddie01 February 13, 2013, Oil barrelPoweralternatives: Wasabi Energy Embarks On A Global Expansion, After Signing Up Sinopec As A Customer For Its Kalina Power Generating Technology By Alastair Ford Power generation, and delivering significant cost savings to mining companies and others is now the name of the game at Wasabi Energy, but it hasn't always been that way. Kalina Cycle power plant In the most recent chapters of its long and varied history, the company has also successfully marketed and deployed - to the Tropicana mine and elsewhere - a technology which prevents water evaporation from dams and reservoirs. There's also been a serious involvement with renewable fuels, and various strategic stakes in junior mining companies. If it seems like an odd mix, the pedigree of executive chairman John Byrne provides ample explanation. John was the prime mover behind Cambrian Mining and Western Canadian Coal, both of which grew large from modest beginnings before merging to form a multi-billion dollar company that was eventually sold to Canadian behemoth Walter Energy. Cambrian was in many ways a classic mining finance house. It seeded and grew several small projects, most notoriously the Phulbari coal project in Bangladesh. Phulbari was famously spun out into Asia Energy, allowing Cambrian to bank huge gains before the government pulled the plug on development. But if the ride was occasionally wild, the billions of dollars that were ultimately generated by the sale of Western spoke for themselves. Audley Capital was reported to have banked US$400 million on the sale of Western, and other big players in the mining investment world made big bucks too. That's why some of the big names in mining, like Blackrock, Artemis and JP Morgan sit on the share register of Wasabi Energy, a company that would normally be considered slightly off their graze. Having said that, Wasabi has long been a familiar name in London and Australia, and over the years investors have had plenty of time to get acquainted in it. Partly, that's because Cambrian took a stake in it via a subsidiary called Xtract Energy back in the day, and partly it's simply just because it's been around a long time. In fact, says chief operating officer Diane Bettess, "it's been a listed entity since 1972". John's association with it doesn't go that far back, but he's been involved one way or another for quite a while. He's been the executive chairman since 2009, and has busily built it up on the model of Cambrian to the point where it can now feel confident about going it alone with a single specific focus. "Wasabi, like Cambrian, has been funded by buying and selling assets", says Diana. The latest such transaction was the sale in August 2013 of an 11 per cent stake in a company called Australian Renewable Fuels to Lignol Energy. The price: C$4.3 million in cash shares and debt. There are other deals in the pipeline. For one thing, Wasabi now holds a major stake in Lignol, not to mention a sizeable seven per cent convertible debenture. But AquaArmour, the business which tackles water evaporation, is also now described by Diane as "non-core" Because now that Wasabi has now reached a market capitalisation of around £40 million on Aim and A$60 million on the ASX, the feeling is that the company has now reached a turning point. Looking ahead, the focus will now turn to the company's proprietary Kalina power generation technology. According to the Wasabi literature: "the Kalina Cycle is a power cycle technology based on the superior thermodynamic properties of mixtures". What that means in layman's terms is more power, at lower cost, and with fewer emissions. A 10 Megawatt (MW) Kalina plant will cost between US$15 million and US$20 million to build, and generate electricity at a cost of around US$0.01 per kilowatt hour. Assuming a market price of US$0.11 per kilowatt hour, it will then deliver a gross profit of US$7.9 per year, and payback within two and a half years. Nice looking numbers, but how is it done? Kalina takes the exhaust heat from an existing power generating operation and recycles it. But that's not the clever bit. It then applies that heat to a mixture of ammonia and water, rather than just water, to create the steam that drives the turbines. That allows companies to vary the boiling point of the mixture itself, which is a highly useful tool for miners in particular, who can be operating in extremely low temperatures or at altitude. "Ammonia", says Diane, "boils at 33 degrees. Water boils at 100." Between those two boiling points there's a fair bit of range. Not surprisingly, there's been a fair bit of interest in Kalina, and existing customers include Sumitomo, International Ferro Metals, Sinopec and FLSmidth. "We're so overworked", says Diane, "it's outrageous". Even so, Wasabi wants more. The company is now looking to go properly global. It's set up several subsidiary companies which it hopes in due course to list on regional markets in Canada, Africa and Asia. Chinese investors have been lined up for the Asian operations, encouraged by the presence of Sinopec on the customer roll. The Sinopec contract was converted from a design and technical services contract into an engineering, procurement and construction contract at the end of January, and relates specifically to a polyester materials plant. But tantalisingly, Sinopec have 45 other refineries at which Kalina might effectively be deployed. And that's just in China. Clearly the signing of that deal represents something of a watershed moment. "Wasabi Energy is now preparing for a larger scale roll out", said John in the press release that announced the news, "and establishing engineering teams to cover a global expansion in geothermal and waste heat". The target, as laid out in the marketing literature Diane has been carrying around London recently, is for Wasabi to have a market capitalisation of US$1 billion by 2018. Big talk, but then John Byrne's done it before. It'll be interesting to watch. |
Posted at 03/1/2013 16:59 by freddie01 Wasabi Energy shares power up as it starts Asian revolutionWasabi Energy (LON:WAS, ASX:WAS) revealed it has paid around US$5.6mln for the first instalment to buy 50.5% of Shanghai Shenghe New Energy Resources Science & Technology (SSNE). The specialist power company, whose Kalina Cycle technology recycles heat from industrial processes to generate electricity, put up the cash on behalf of its new subsidiary Wasabi New Energy Asia (WNEA). The payment was partly settled by the issue of just under 40mln Wasabi shares at 1.8 cents each. SSNE, which is the Kalina Cycle licensee for China, Macau, Taiwan and Hong Kong, has been operating within the market in China since 2007. WNEA is being set up to take advantage of the Asian power market and to advance the use of the Kalina Cycle and SSNE's patented Enhanced Rankine Cycle power technology throughout in Asia. Once it is established Wasabi will hold over 50% of WNEA and will have the right to appoint the majority of the board. WNEA looks set to take Lions Bay Capital's place on Toronto's junior market after signing a letter of intent with the firm for it to become WNEA. The company said the process is expected to be completed in the first quarter of 2013, adding that it also plans to list WNEA on an Asian exchange. John Byrne, Wasabi's executive chairman, said: "Wasabi Energy is entering into a new phase of its evolution as a leading power producer utilising our proprietary Kalina Cycle technology with the establishment of Wasabi New Energy Asia (WNEA). The Asian market offers significant opportunities especially within China. "WNEA commences operations with a strong, capable proven management team at SSNE and will be enhanced by an experienced management team in Asia. "For the shareholders of Wasabi Energy, WNEA offers an opportunity for leveraging our proprietary Kalina Cycle technology into an Asian based company that will be separately listed on the TSX-V and subsequently on an Asian stock exchange," he added. "By having a separate listing WNEA will be responsible for its own fund raisings and not be dilutive to Wasabi Energy. The value created within WNEA should be reflected back into Wasabi Energy. "We are very excited by the commencement of WNEA and look forward to its growth as a power company within Asia." Shares shot up 7.7% to 1.26p on the news. |
Posted at 17/12/2012 21:26 by freddie01 AAP Carbon has been granted a Kalina Cycle license for sub-Saharan Africa as part of a recent agreement with Wasabi Energy, which has increased its stake in the company from 25 to 62.5 per centWith real growth at five per cent of GDP, sub-Saharan Africa is one of the world's fastest growing regions and provision of reliable power is a key component to ensure ongoing economic growth, Wasabi said. AAP Carbon's flagship co-generation plant is the 20MW International Ferro Metals power plant, where carbon monoxide-rich waste gas is harnessed to produce in excess of 160mn kWh per annum of low-emission electricity for International Ferro Metal's use. Wasabi has been in discussions with AAP Carbon regarding the installation of a power plant utilising Kalina Cycle technology. The technology, developed by Global Geothermal, can be used to recycle waste heat generated from power plants, producing up to 20 per cent additional electricity. John Byrne, executive chairman of Wasabi Energy, said, "Wasabi Energy has been working closely with AAP Carbon since early 2012. We are impressed with the opportunities available to the group in South Africa and Sub-Saharan Africa with a number of projects being well advanced. "The joining together of AAP Carbon with Wasabi Energy's business development activities provides a powerful combination of expertise, proven track record in the development and implementation of projects and a unique offering with the combination of chemical and thermal energy conversion with the use of the Kalina Cycle." Under the terms of the transaction, AAP Carbon issued 15.2mn new shares and 4.7mn warrants exercisable at US$0.10 to Wasabi as consideration for an exclusive Kalina Cycle license (excluding the cement and lime industry which was granted to FLSmidth) and Wasabi's business development activities in Sub-Saharan Africa. In addition to industrial waste heat applications, the Kalina Cycle can be utilised with heat from renewable sources such as geothermal and solar thermal using a binary power plant. Currently, there is approximately 217MW of geothermal energy produced in Africa, with most coming from flash steam power plants using high temperature sources from the geothermal fields in Kenya (202MW) and where there is also a 140MW geothermal plant under construction. According to the Geothermal Energy Association, the remainder of the geothermal power in Africa largely comes from Ethiopia. The Sub-Saharan African market offers abundant opportunities for the development of AAP Carbon with its portfolio of chemical and thermal energy conversion for both the industrial waste heat and renewable heat sectors, Wasabi added. According to a recent study by the World Bank's African Energy Unit (AFTEG) of the 54 African nations, 25 face an energy crisis, with experts predicting that unless stronger commitments are put in place to reverse current trends, half of the population of Sub-Saharan Africa will be without electricity by 2030. |
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