Greenearth Energy set to capitalise on Australian Government clean energy initiatives

Jul. 12, 2011 8:33 PM ET
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Greenearth Energy (ASX: GER) is well placed for future growth in Australia’s future clean energy market following the Australian Government’s introduction of the carbon tax and trading system on July 5.

The Federal Government’s carbon pricing and clean energy initiatives will provide substantial support for the Australian renewable energy and energy efficiency industries.

The $13.2 billion of investment announced through the Clean Energy Finance Corporation and Australian Renewable Energy Agency will foster development of renewable energy and create investment certainty in the renewables sector.
Over the past three years Greenearth has established a suite of strategically positioned clean energy technology entities that have the potential to deliver renewable energy, energy efficiency and CO2 to fuel conversion outcomes in years to come.

Greenearth Energy has a stable of world class technologies at its disposal to deploy strategically across Australia and the region as opportunities arise. These range from base load, zero emissions conventional geothermal projects to the emerging waste heat recovery and energy efficiency categories.

Also, the company has combined heat and power solar technology along with the recently announced revolutionary CO2 to fuel conversion technology.

Mark Miller, Greenearth Energy's managing director, said "Sunday’s announcement by the Commonwealth clearly supports our strategic diversification into the broader renewable energy market (Greenearth Solar Energy) and in particular the burgeoning energy efficiency sector (Pacific Heat and Power and Greenearth Energy Efficiency)."

On June 30 the company signed an agreement that paves the way for Greenearth Energy to develop a revolutionary technology process aimed at producing a commercially viable fuel from CO2 emissions that can potentially be stored, transported and used in motor vehicles.

"Our latest announcement regarding the formation of NewCO2 Fuels Pty Ltd and our company's successful securing of an exclusive, worldwide Research and Licence Agreement from Israel’s Weizmann Institute of Science for a revolutionary technology that has the ability to convert CO2 emissions into fuel, puts our company in a unique position within the Australian renewable energy market," Miller added.

All Greenearth's technologies and projects have potential to deliver clean energy outcomes while at the same time delivering CO2 emissions reductions. The company is endeavouring to deliver near term project and revenue opportunities from its various projects.

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