2012 EnviroMission via press release "EnviroMission Solar Tower Project Financial Commitment". EVM has received a formal commitment to provide the entire development and construction capital for EVM's first solar tower power station being developed in La Paz county Arizona to deliver the terms of a power purchase agreement with the SCCPA.
The financing is subject to the due diligence and the acceptance of related banking instruments by EVM's legal adivsors and bankers..."100% pure equity".
EnviroMission, Ltd. (US Market: EVOMY, Australian Exchange: EVM) is a renewable energy developer of sustainable "green" energy solutions for the energy market. EnviroMission aims to be one of Australia's leading producers of clean renewable energy. EnviroMission holds the proprietary rights to Solar Tower technology, a large-scale renewable energy technology based on simple fundamentals of physics -- hot air rises. Solar Tower technology has the potential to offer competitive renewable energy with equal reliability to fossil fuel generators.
A single 200MW Solar Tower power station will provide enough electricity to power around 400,000 households. The energy output will represent an annual saving of more than 1,960,000 tonnes of greenhouse CO2 gases from entering the environment when compared to brown coal emissions in Victoria. The greenhouse savings equate to the removal of approximately 500,000 cars from the road. The Australian Solar Tower project consists of six distinct phases, the first two of which (project optimization and pre-feasibility commercialization) have already been completed. The third phase (final feasibility), paving the way for the implementation of the next three phases (final design, construction, and commercial operation).
EnviroMission Aligned with Arizona Solar Leaders (Online PDF Doc)