Solar Power Tower Developer, EnviroMission (USA), Inc. Opens for Business

Enviromission

EnviroMission’s plans to commercialise Solar Tower technology in the United States have been formalised through the incorporation of a fully owned US subsidiary, EnviroMission (USA) Inc, to represent EnviroMission’s commercialisation operations in the United States. EnviroMission (USA), Inc. will provide the day-to-day operations to support EnviroMission’s overarching, executive developer interests, under the management of EnviroMission’s Chief Executive, Mr. Roger Davey.

US incorporation will entitle EnviroMission (USA), Inc. to incentives available exclusively to US corporations; the establishment of a US headquarters in Phoenix will also provide financial and resource efficiencies from localized business operations.

“This move will satisfy a multitude of factors inherent to successfully doing business in the US whilst also reinforcing EnviroMission’s strategic intent for executive control of Solar Tower development in the US market” Mr Davey, EnviroMission’s Chief Executive and Executive Chairman explained in support of the incorporation.

EnviroMission (USA) Inc. has been registered and incorporated in the US state of Delaware to provide EnviroMission with a wholly owned corporate entity in the United States to benefit from financial and resource efficiencies available from local business presence, commitment and expertise. EnviroMission Limited remains the executive Solar Tower developer and will maintain an active involvement in the day to day management of EnviroMission (USA) Inc through the executive management function of the office of the Chief Executive.

EnviroMission (USA), Inc. will lead briefings and interactions with power authorities and councils in the southwest, as well as analysts and the finance sector within the US to provide real time business advantage for development success in the region.

According to the company, the southwest region of the US, specifically Arizona, has been identified as an ideal Solar Tower development destination based on meteorological data and regional market conditions that include strong mandates and incentives for renewable energy generation.EnviroMission obtained the global Solar Tower development rights, with the exception of China, from SolarMission Technologies, Inc. on 31 July, 2008. Solar Tower power station technology is a breakthrough in large-scale, grid connected, renewable energy generation. A 200MW Solar Tower power station could power up 300,000 average US households without creating greenhouse gas pollution or using precious water.

Here is a video produced by Enviromission:

Expenditure associated with the establishment and operation of an office in Phoenix is viewed as an investment in doing business in the US and a necessary investment to support EnviroMission’s shift to executive global

developer following the assignment of the global (except China) development rights from SolarMission Technologies, Inc. (SMT) on 31 July, 2008.

EnviroMission issued 5,000,000 (five million) ordinary free trading shares (and additional commercial in confidence conditions) to SMT in consideration for the global (except China) development rights to provide sufficient commercial terms to SMT security holders that may have declined EnviroMission’s Stock Exchange Offer thereby creating minority shareholdings.