ENVIROMISSION PUT OUT
MELBOURNE, Oct 27 - Solar tower proponent
EnviroMission Limited
sought a trading halt on its shares on
Wednesday to address any
confusion between its project and the Solar
Systems announcement. It
said a marked change in the daily price and
volume of EnviroMission's
securities traded, correlated with the timing
of the funding
announcement.
EnviroMission said its 50MW Solar Tower
proposal for the Sunraysia
region at Tapio Station in South West NSW -
which also sought funding
from the LETDF fund - had a proposed capacity
to power approximately
100,000 households.
EnviroMission had tailored its technology to
meet the requirements
outlined in the LETDF criteria, in order to
access the first round
funding.
EnviroMission would now be seeking detailed
rationale from the
government regarding its decision to fund a
proposal that has been
announced to have a less commercial case with
the capacity to power
only 45,000 households at a higher capital cost
compared to
EnviroMission's application.
EnviroMission said it will announce an ongoing
development strategy
in light of the LETDF decision at its upcoming
Annual General
Meeting.
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-----------------------------------------------------
Stephen
Kittel
ETSA Utilities
Senior Design
Engineer Marleston, Gate
7
Substation Design Services Grove Avenue
DX11130
SA 5033
ph (08) 8292
0209
fax (08) 8292 0014
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