Proactiveinvestors Australia

Greenearth Energy clears another hurdle with Victorian geothermal project site selection

Thu, 03 May 2012 15:10:00 +1000

Greenearth Energy (ASX: GER) has ticked another box towards the development of the Geelong Geothermal Power Project with the selection of the proposed site.

A preliminary memorandum of intent has been entered into with Holcim (Australia) to site the geothermal power plant at Holcim’s Moriac quarry, 8.5 kilometres north-northwest of Alcoa’s (ASX: AAI) brown coal-fired power station at Anglesea, Victoria.

Mark Miller, Greenearth Energy managing director, said in selecting this particular site the company has sought to address many of the topics raised via the site selection process.

“Being located in an industrial extractive industry zone, in an existing operating quarry, close to established infrastructure attempts to ensure that any environmental and amenity impact of a geothermal operation will be significantly minimised.”

Stage 1 of the project involves the drilling of an initial well into the hot sedimentary geothermal aquifer to a depth of about 4,000 metres in an attempt to bring hot water to the surface.

Greenearth will conduct short term tests to assess temperature, geothermal fluid flow rate and formation permeability.

Following successful results, the company will then drill a second well which would establish proof of concept and pave the way for development of the second stage.

Geelong Geothermal Power Project concept

The end goal for the project is the development of a 140-megawatt geothermal power plant providing clean, renewable power for 100,000 homes.

The Geelong Geothermal Power Project is targeting to become Victoria’s first grid connected geothermal power plant.

The geothermal resource has been assessed as having the potential to deliver up to 140 megawatts of zero emission, baseload, renewable energy for more than 30 years.

Greenearth is continuing discussions with Alcoa in relation to areas of potential collaboration, including grid connection via Alcoa’s infrastructure assets and baseload renewable energy offtake.

The potential for a successful geothermal power project is substantial with its location being close to major industry and the national power grid.

Another plus for the project is the competitive levelised dollar per megawatt hour cost of renewable power generation, assuming a successful Stage 1.

The economics are also favourable with the 12 megawatt demonstration plant able to deliver a positive net present value and equity internal rate of return.

Government backing

Last year Greenearth secured a A$25 million funding agreement with the Victorian Government to progress the project.

The first $5 million will go towards establishing Stage 1 and the remaining $20 million will fund the Stage 2, 12 megawatt demonstration stage of the project.

Greenearth is now seeking funding assistance from the Australian Government’s Emerging Renewable Program to begin the exploration stage of the project and drill the first deep geothermal well.

Importantly, the company has previously had the support of the Australian Government for the project.

“We have had success at the Commonwealth level with applications for the Geelong Geothermal Power Project, and now we have a supportive State Government we feel that we’re in a very good position to be able to apply for funding via Emerging Renewables from the Commonwealth Government for the project,” Miller previously told Proactive Investors.

“We feel confident that the Victorian Government’s agreement to fund both the exploration stage and the demonstration stage will see a commitment from the Federal Government.”

Miller said he anticipates the funding process to continue through 2012 and hopefully the company will be in a position to potentially drill the first well sometime after that.

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Greenearth Energy: CO2 to fuel technology a way to exploit Victorian brown coal resources

Mon, 23 Apr 2012 12:30:00 +1000

Greenearth Energy (ASX: GER) believes its technology to convert carbon dioxide emissions into fuel could allow Victoria to further use of its brown coal resources while keeping emissions manageable.

While Victoria already uses brown coal for 85% of its power generation, lowering its emissions could pave the way for other uses including exports.

This was flagged by Victorian Minister for Energy Michael O’Brien saying last week that the State Government would undertake a market assessment of interest in brown coal this year as it had not being used effectively before due to high emissions.

He added that new technologies being proposed could allow the use of brown coal with lower emissions.

Greenearth chairman Rob Annells said the company’s laboratory proven technology could allow Victoria to use its vast brown coal resources into the future by adopting it once it was commercially proven.

“In addition by way of our worldwide research and license agreement with the Weitzman Institute of Science we have a potential opportunity to work with Victorian brown coal export partners to adopt our technology in their countries and utilise our States' brown coal reserves in a more environmentally friendly way.”

He added that Greenearth hoped to deploy a modular technology pilot demonstration within 2 years.

Greenearth’s technology involves a new method of using concentrated solar energy for the dissociation of carbon dioxide (CO2) to carbon monoxide (CO) and oxygen (O2). The same system can also dissociate water (H2O) to hydrogen (H2) and oxygen (O2), at the same time it dissociates the CO2.

The CO, or the mixture of CO and H2 called Syngas, can then be used as gaseous fuel in power plants, or converted to liquid fuel such as methanol.

Existing power plants, cement factories and other emitting industries could provide the CO2 for the process and the resulting fuel could potentially be recycled back into the plant from which it was created or be utilised as transportation fuel

This would substantially reduce CO2 emissions.

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Greenearth Energy: clean technology program a windfall for energy efficient lighting technology

Thu, 23 Feb 2012 12:53:00 +1100

Greenearth Energy’s Metrolight energy efficiency technology is likely to receive greater exposure on the back of the Australian Government’s introduction of a $1 billion Clean Technology Investment Program.

Greenearth Energy substantial shareholder increases interest

Tue, 14 Feb 2012 17:00:00 +1100

Greenearth Energy (ASX: GER) substantial shareholder Erdi Fuels has increased its stake in the company by 5.69%.

Erdi Fuels took up 8.4 million shares between November 2011 and February 2012, increasing its total holding to 16.5 million shares.

This equates to a 14.69% interest in Greenearth.

Erdi Fuels took up its initial 9% holding in Greenearth in mid-2011.

In November 2011, Greenearth secured a $25 million funding agreement with the Victorian Government to progress its flagship conventional geothermal project.

The funding will assist with two stages of the Geelong Geothermal Power Project development, with the first $5 million going towards drilling an initial well into the hot sedimentary geothermal aquifer.

This well will be drilled to a depth of about 4,000 metres in an attempt to bring hot water to the surface.

Greenearth is looking to the Australian Government for further financial support for the project.

Greenearth Energy: substantial shareholder Advance Publicity boosts stake to 15.8%

Tue, 15 Nov 2011 14:17:00 +1100

Greenearth Energy’s (ASX: GER) substantial shareholder Melbourne-based Advance Publicity has boosted its stake in the company to 15.8% from 14.57%.

Over the past few months Advance Publicity has been increasing its shareholding through on-market purchases, the provision of consultancy services, and through Greenearth’s recent rights issue.

Last week Greenearth completed its non-renounceable one for two rights issue after receiving applications and commitments of up to A$1.2 million.

Funds will be used for a number of projects including the Zenith solar technology demonstration site in Melbourne that was recently given approval.

Greenearth is progressing its projects on many fronts. Last week the company announced it was awarded a services contract with Australia's largest gold producer Newcrest Mining (ASX:NCM), aimed at maximising the electrical output from its geothermal operations on Lihir Island.

Greenearth Energy raises A$1.2 million on completion of rights issue

Thu, 10 Nov 2011 14:10:00 +1100

Greenearth Energy (ASX: GER) has completed its non-renounceable one for two rights issue after receiving applications and commitments of up to A$1.2 million.

Funds will be used for a number of projects including the Zenith solar technology demonstration site in Melbourne that was recently given approval.

A total of $983,070 funds have been received, with the company awaiting a further commitment of $241,001. An allocation of 12,288,381 shares and 12,288,381 unlisted incentive options will be issued to eligible shareholders.

Up to 3,012,512 shares and 3,012,512 unlisted incentive options will be issued upon receipt of funds. Company directors will attempt to place a shortfall of 29,739,993 shares during the next 3 months.

Greenearth is progressing its projects on many fronts. Yesterday the company announced it was awarded a services contract with Australia's largest gold producer Newcrest Mining (ASX:NCM), aimed at maximising the electrical output from its geothermal operations on Lihir Island.

Greenearth Energy secures contract with Newcrest Mining for geothermal operations

Wed, 09 Nov 2011 16:11:00 +1100

Greenearth Energy (ASX: GER) has been awarded a services contract with Australia's largest gold producer Newcrest Mining (ASX:NCM), aimed at maximising the electrical output from its geothermal operations on Lihir Island.

The geothermal brine testing services contract secured by Greenearth subsidiary Pacific Heat and Power Pty Ltd (PHP) is designed to assist in producing further emissions-free power at the site in New Ireland province of Papua New Guinea.

The contract involves evaluating the low temperature brine that is currently under-utilised, using a specially designed test rig. PHP will provide a lead coordination role between international equipment suppliers and local geothermal experts.

On completion, the test results will provide critical information required to select and design a Turboden Organic Rankine Cycle (ORC) system that maximises the geothermal power production, whilst minimising maintenance requirements and ensuring high reliability.

Mark Miller, managing director of Greenearth Energy, said "this activity strengthens our belief that there is a substantial future for ORC technology in the Pacific Islands."

"Our range of power generating systems, complementary services and associations with skilled engineering companies have the potential to efficiently deliver significant megawatts of emissions free, or low emissions power in Australia and the wider Pacific Rim.”

Turboden has been a Pratt and Whitney Power Systems Company since 2009, part of United Technologies Corporation (NYSE:UTX).

Turboden specialises in the applications of Organic Rankine Cycle technology, a technology which allows the producuction of electric power efficiently and in a user friendly way, from low temperature and/or low power heat sources.

Significantly, Turboden’s ORC equipment has a proven track record. The company recently completed contracts for three 5MWe geothermal systems to customers in Germany.

The systems operate on temperature sources similar to the temperature of brine at Lihir island, brine from separators in high temperature geothermal systems, or to be found in Australian geothermal applications.

Turboden’s range of equipment includes modular ORC units with high efficiency, ranging in sizes from 1MWe to 10MWe and scalable solutions for larger plants.

Geothermal Turboden ORC can produce electricity from geothermal sources with medium to low temperature, ranging between 90°C – 180°C.

Greenearth Energy secures potential $25m Victorian Government backing to advance geothermal project

Thu, 03 Nov 2011 13:30:00 +1100

Greenearth has moved a step closer to the potential development of a 140-megawatt geothermal power plant in Victoria by achieving the milestone of a funding agreement with the State Government. The company is now seeking Federal Government support.

Greenearth Energy extends closing date for rights issue

Fri, 14 Oct 2011 12:24:00 +1100

Greenearth Energy (ASX: GER) has extended its non-renounceable rights issue lodged on 14th September until 5pm on 4th November 2011, after initially contemplating a closing date of 17th October.

Greenearth will raise up to $3,603,270 through a non-renounceable 1 for 2 rights issue of 45,040,886 new shares at $0.08 per share for advancing its clean energy projects and technologies.

In addition, a non-listed incentive option will be issued for no additional consideration for every new share, exercisable at $0.05 each at any time during the period from 15 April 2012 to 15 October 2012.

Greenearth Energy to raise up to A$3.6m to progress clean energy projects

Wed, 14 Sep 2011 11:02:00 +1000

Greenearth Energy (ASX: GER) will raise up to $3,603,270 through a non-renounceable 1 for 2 rights issue of 45,040,886 new shares at $0.08 per share to advance its clean energy projects and technologies.

Funds will be used for a number of projects including the Zenith solar technology demonstration site in Melbourne that was recently given approval.

Investment will be made in biomass waste-to-energy gasification technology to obtain a 20% equity interest and participate in a trial stage.

Greenearth is looking to establish logistics capability and inventory stock levels of the Metrolight Smart High Intensity Discharge (HID) Products.

In addition, the company will use funds to continue the work underway in its domestic geothermal permits including planning and initial site preparation activities of the Geelong Geothermal Power Project (GGPP) and an Emerging Renewables application for both the GGPP and our Latrobe Valley Interpretation project.

Proceeds will also be used on other projects and working capital as determined by the company.

Shareholders who subscribe for new shares will also receive 1 non-listed incentive option for every new share they subscribe for no additional consideration, exercisable at $0.05 each at any time during the period from 15 April 2012 to 15 October 2012.

Shareholders will also be able to apply for additional shares and incentive options which may be available from any shortfall to the issue.

Non-shareholder applicants will be invited to apply for any shortfall resulting from the issue.

Greenearth Energy generates sales for diesel engine clean energy technology in American Samoa

Mon, 12 Sep 2011 13:22:00 +1000

Greenearth Energy's (ASX: GER) has sold two PureCycle® Organic Rankine Cycle (ORC) Turbines to New Zealand based partner Service Engineers Limited, to capture waste heat from diesel engines that are owned by the American Samoa Power Authority.

The PureCycle® ORC Turbine application will result in an additional 300kWe net, baseload, zero emissions power for American Samoa. This latest sale would provide a boost to Greenearth as it progresses its portfolio of clean energy solutions towards income generation.

The sale was made by Greenearth's wholly owned subsidiary Pacific Heat and Power Pty Ltd (PHP) to Service Engineers, who recently won a Turnkey contract, and the technology will commissioned in the first half 2012.

Mark Miller, managing director of Greenearth Energy, said "as the first diesel waste heat-to-energy project using ORC technology in the Pacific Islands we believe this will drive awareness and ultimately sales of this savvy technology."

"Our product technology offering, complimentary services and high calibre partners have the potential to deliver megawatts of base load zero emissions power from low value waste heat industrial process in Australia and the wider Pacific Rim."

The PureCycle® power system, developed by Pratt & Whitney Power Systems (PWPS), is a pre-engineered system that harnesses waste heat to generate electricity.

This results in a 280 kW on-site power generation system that requires no fuel input except heat in the form of hot water, low pressure steam, or thermal oil.

Based on a thermodynamic cycle known as the ORC, the PureCycle® power system converts low to moderate temperature resource fluids like water into electricity through vaporising and expanding a working fluid in a closed system.

PHP has a stable of technologies that can turn losses and inefficiencies into a valuable resource through making electricity for use on site or sale to the grid.

The products are based on proven world class technologies that provide customers with increased energy productivity, energy reliability, operational savings and lower greenhouse gas emissions.

American Samoa has a high dependency on diesel fuel as its primary power generation source, like most of its neighbours in the Pacific Rim.

Despite the relatively small scale of many of these Pacific Island generators, pre-engineered systems reduce the costs of implementing small scale waste heat recovery projects allowing communities to reduce their generation costs while at the same time positively impacting their emission levels.

The collaboration between PHP, Service Engineers and Pratt & Whitney Power Systems has provided the American Samoa Power Authority with an attractively priced diesel waste-to-clean energy total solution.

This has been achieved despite challenging conditions for ORC systems, being variable low temperature heat source combined with high average ambient temperatures.

Greenearth Energy establishes a beachhead in fast growth biomass market

Wed, 07 Sep 2011 12:29:00 +1000

Greenearth Energy (ASX:GER) has established a new subsidiary company to evaluate opportunities in the biomass market.

Greenearth Biomass Energy Pty Ltd will look specifically into opportunities in the biomass and waste-to-energy gasification arena.

The global biomass manufacturing market is projected to increase in 2010-2015 from $572.9 billion to $693.7 billion, according to a report from EL Insights. This represents a compound annual growth rate (CAGR) of 3.9% during this time period.

The costs associated with waste collection, increasingly limited landfill sites, the environmental impacts of landfilling and the difficulties associated with incineration are significant.

Greenearth Biomass Energy will assess a unique biomass waste-to-energy gasification technology and market opportunity in Indonesia, the unique technology solution is universal in its application potential.

Managing director of Greenearth Energy, Mark Miller said, “With the challenges Governments and communities face in dealing with waste and the need to deliver economically attractive renewable energy solutions, we see a potential opportunity for our shareholders in this new growth category.

"Gasification has the ability to convert municipal and other wastes into electric power or other valuable products such as fertilizers and Syngas. Gasifying biomass and other waste streams generates positive economic and environmental outcomes for Governments, participating communities and investors alike.

"Greenearth Biomass Energy perfectly complements our suite of aligned renewable and energy efficiency technologies. We hope to finalise our technology and market assessment in the coming months and provide further details of this exciting project opportunity at that time."

Worldwide, governments are spending billions of dollars each year disposing of solid waste that by its very nature contains valuable unused energy.

According to the EL Insights report, biomass will grow within the biopower, biofuels, and bioproduct sectors.

The market value of electricity generated from biomass in the U.S. was $45 billion in 2010 and will increase to $53 billion by 2020. According to the BPA (Biomass Power Association), the biomass industry produces 5 million megawatt-hours of electricity every year, provides 18,000 jobs nationwide, and removes more than 68.8 million tons of forest debris every year.

According to the report, here’s what we can expect:

- Government subsidies for research and development of renewable transportation fuels will reduce the United State’s dependence on foreign oil significantly by 2020.

- 30 to 40 million hectares of crop will be needed in the EU to meet the demand for biofuel, and half will be in developing countries which is expected to push the price of staple foods in these countries by 15 percent by 2020.

- Plant waste and municipal trash converted into biofuel has the potential to reduce emitted CO2 by more than 90 percent over gasoline.

Greenearth Energy gets green light for Melbourne solar technology demonstration site

Mon, 05 Sep 2011 12:55:00 +1000

Greenearth Energy (ASX: GER) has received planning approval from the City of Port Philip for its ZenithSolar Z20 High Concentration Photovoltaic (HCPV)/Combined Heat and Power (CHP) solar technology demonstration site.

The Z20 technology was developed and is manufactured by Israel's ZenithSolar, and is the world's most efficient CHP solar technology.

Greenearth's subsidiary Greenearth Solar Energy received the green light for the demonstration facility at 69 Fennell Street Port Melbourne, the first Z20 demonstration site outside Israel.

Greenearth believes the ZenithSolar Z20 has the potential to efficiently deliver the dual benefits of emissions free power and hot water to a wide range of customers throughout Australia and the wider Pacific region.

Mark Miller, Greenearth Energy's managing director, said "we are delighted to have received this approval and we look forward to successfully commissioning our Port Melbourne demonstration site later this year.

"We look forward to successfully delivering our Victorian trial and moving to full distribution within Australia and the wider Pacific region.”

With its unique central location, the site will allow potential investors, project developers and offtake customers easy access to the state-of-the art technology.

Eight Z20 units on the site will produce a peak output of 88kW thermal energy (hot water) and 36kW of electrical energy.

The successful operation of the ZenithSolar Z20 CHP solar technology at Kibbutz Yavne in Israel has demonstrated the impressive benefits of the technology which include:

- Combined Heat and Power generation (CHP);
- Industry leading combined efficiency of greater than 75%;
- Dual output (Heat and Power) improves project ROI;
- System design allows for easy upgrades;
- Modular Installations with small footprint; and
- Proven field performance.

In late 2010, Greenearth Solar Energy and ZenithSolar signed a Conditional Distribution Agreement under which a trial of the ZenithSolar Z20 technology will be carried out in Victoria.

A successful trial will result in Greenearth Solar Energy and ZenithSolar establishing an Exclusive Distribution Agreement for the technology across Australia, New Zealand, Indonesia and a number of Pacific Island nations.

If the technology delivers optimum performance under the conditions of the location, there will be commercial potential for the technology domestically.

On August 25 Greenearth received a trade award from Israel's Ministry of Trade and Labour in recognition of the company's outstanding contribution to the forging of international trade links with the country.

The company is bullish that its partnerships with Israeli companies will lead to the commercial application of clean energy technologies in Australia and beyond.

Greenearth Energy's other projects include High Intensity Discharge (HID) energy efficient lighting, Co2 to fuel, and geothermal energy including the Geelong Geothermal Power Project (GGPP).

Greenearth Energy receives award for developing trade with Israel

Thu, 25 Aug 2011 15:44:00 +1000

Greenearth Energy has been recognised by Israel for its contribution to forging trade links, and the company is bullish that its partnerships with Israeli companies will lead to the commercial application of clean energy technologies in Australia and beyond.

Greenearth Energy sees potential of HID lighting technology on 65% energy savings

Wed, 10 Aug 2011 11:47:00 +1000

Greenearth Energy (ASX: GER) has acheived a 65% energy efficiency result in partnership with Ambulance Victoria by undertaking a Metrolight High Intensity Discharge (HID) lighting equipment upgrade.

The company's subsidiary Greenearth Energy Efficiency achieved the result by converting Ambulance Victoria’s depot in Melbourne to HID lighting equipment and conducting an optimisation trial.

As a converted factory, the Ambulance Victoria depot had a simple garage lighting system that was inefficient, inflexible and costly to run. The new technology is far more efficient, generating more light per watt than dated technology, which loses a significant amount of energy as heat.

The new system provides flexible and highly efficient lights combined with a simple and smart control system that delivers light effectively. Pre and post installation monitoring of the lighting system’s electricity consumption conservatively estimates the savings to be 65%.

Mark Miller, Greenearth's managing director, said “with energy savings and the resultant CO2 emissions reductions on this scale, coupled with the flow on benefits of reduced maintenance using the Metrolight technology, we are confident that our technology has the potential to deliver substantial savings to Australian industry at this critical time.

"With literally thousands of similar sites nationally we believe our technology solution has enormous potential within the Australian market."

A partnership established with Israeli based Metrolight Limited has provided Greenearth Energy Efficiency with leading edge lighting efficiency products to deploy throughout Australia, New Zealand, Indonesia, selected Asian markets and the wider Pacific Rim.

As the company's renewable and energy efficiency technologies continue to gain momentum, Greenearth Energy has also recently received a significant boost with the introduction of the Australian Government's Clean Energy Future package.

Greenearth Energy shares rose 18.42% to $0.09 in trading this morning.

Greenearth Energy buoyed by more flexible funding for Geelong Geothermal Power Project

Tue, 09 Aug 2011 15:03:00 +1000

Greenearth Energy (ASX: GER) has reaffirmed its commitment to developing its suite of Victorian geothermal assets following the announcement of the Australian Government's $126 million Emerging Renewables program yesterday.

The company said the new program will pave the way for Greenearth to seek more flexible funding arrangements for its Geelong Geothermal Power Project (GGPP).

Greenearth is also seeking to continue its current negotiations with the State Government in regards to its $25 million Energy Technology Innovation Strategy (ETIS) grant for both exploration and demonstration stages of the GGPP.

Mark Miller, managing director of Greenearth Energy, said "we look forward to the State Government's continued support in concluding our current ETIS grant funding negotiations. Our Victorian permits and project areas remain amongst the countries most strategically attractive to develop.

"With 22% of our nation’s greenhouse gases emitted in the Latrobe Valley alone, our proposition to develop base-load, zero-emissions renewable energy in that part of our State remains at the core of our company’s long term strategic objectives".

The GGPP remains Australia's most awarded Hot Sedimentary Aquifer (HSA) geothermal project.

The company will continue its comprehensive community and stakeholder engagement and site selection process.

Greenearth Energy well placed for new A$126m Australian Government funding

Mon, 08 Aug 2011 13:24:00 +1000

Greenearth Energy (ASX: GER) is set to benefit from the design of a new Government program announced in July called the Clean Energy Future package which includes a carbon price of $23/tonne of CO2 and $13.2 billion in clean energy funding initiatives.

Martin Ferguson, Minister for Resources and Energy, announced today that the Emerging Renewables program will have funding of $126 million with geothermal companies well placed to benefit from the new program design.

Importantly, the program allows a flexible approach to funding and Greenearth should benefit from this in its quest to establish base load renewable energy generation in Victoria.

In November 2011 Greenearth signed a memorandum of intent (MOI) with Alcoa (ASX: AAI), representing a significant and substantial development for the Geelong Geothermal Power Project (GGPP), providing a potential pathway from the preliminary planning stage through stage 1 exploration to stage 2, demonstration and grid connection.

Alcoa has operated a power station in Anglesea for over 40 years, with the Greenearth Energy proposed GGPP resource area just 9 kilometes northwest of the Alcoa operation.

At least one third of the total program funding is expected to be available to support the development of geothermal energy in Australia.

This initiative has come on the same day that Greenearth Energy and fellow Australian geothermal explorers Torrens Energy (ASX: TEY), Green Rock Energy (ASX:GRK) and Hot Rock (ASX: HRL) have mutually executed deeds of termination with the Australian Government for their Geothermal Drilling Program (GDP) grant funding.

The economic conditions over the past year combined with the agreed construct of the GDP grant limited project recipients’ ability to attract project funding, resulting in them not meeting the requirements of their GDP grants in the timeframes stipulated.

The Clean Energy Future package includes the $10 billion Clean Energy Finance Corporation and the 3.2 billion Australian Renewable Energy Agency (ARENA) will cut pollution and drive investment in new clean energy sources, such as geothermal.

Geothermal remains the country’s only potential large scale zero-emission renewable baseload 24/7 energy source, and this has been recognised with the announcement today by the Australian Government.

The Emerging Renewables program aims to reduce the costs of new technologies, improve skills across the renewable energy industry, and leverage finance from the private sector as well as state and territory governments.

Greenearth is also waiting on the finalisation of a $25 million grant from the Victorian Government for the Geelong Geothermal Power Project, first announced in December 2009.

Greenearth Energy set to capitalise on Australian Government clean energy initiatives

Tue, 12 Jul 2011 12:12:00 +1000

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.

Greenearth Energy enters agreement to develop CO2 to fuel conversion technology

Thu, 30 Jun 2011 11:10:00 +1000

Today's agreement 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.

Greenearth Energy in pre-open pending 'material contractual agreement'

Wed, 29 Jun 2011 11:06:00 +1000

Greenearth Energy (ASX: GER) has been granted a trading halt by the ASX, with the company's shares placed in pre-open.

Greenearth requested the halt pending an announcement 'concerning a material contractual agreement which relates to the company's ongoing investigations into CO2 conversion technology.'

The trading halt will be lifted at the earlier of the announcement made to the market, or trading commencing on Friday 1 July.

Greenearth Energy secures energy efficiency contract with Diageo

Wed, 11 May 2011 12:26:00 +1000

Greenearth Energy (ASX: GER) has been awarded a contract to provide a smart lighting installation for Diageo Australia, a leading premium drinks business, potentially providing energy savings of up to 48%.

The contract was given to subsidiary Greenearth Energy Efficiency Pty Ltd and the project will showcase the benefits of the company's Metrolight commercial lighting technology at Diageo Australia's New South Wales Huntingwood facility.

Metrolight is a flexible, smart, High Intensity Discharge (HID) lighting system that can ‘harvest’ the benefits of daylight in a warehouse, and provide significant energy savings.

The technology is manufactured by Israeli-based partner, Metrolight. The company is the leading manufacturer of Smart Electronic Ballasts that power HID energy efficient lighting systems.

Richard Branson's Virgin Green Fund has invested in Metrolight whose HID lighting solutions can deliver substantial energy savings.

Through a combination of more efficient equipment, dimming with daylight, and implementation of 'smart' control systems potential energy savings of up to 48% can be achieved at Diageo's facility.

Greenearth Energy Efficiency recently announced it is now an Accredited Certificate Provider under the NSW Energy Savings Scheme, and has a specific Recognised Energy Savings Activity (RESA) for HID lighting upgrades.

As such Greenearth Energy Efficiency are able to create Energy Savings Certificates in respect of this project creating further value for the project over and above the already substantial modelled energy savings.

Greenearth is currently advancing the Geelong Geothermal Power Project, in which the company signed an agreement with Alcoa (ASX: AAI) late last year.

Greenearth Energy granted accreditation to produce energy saving certificates for clients

Wed, 04 May 2011 12:48:00 +1000

Greenearth Energy (ASX: GER) can now produce energy saving certificates, improving the financial returns of clients, after being awarded ‘Accredited Certificate Provider’ status under the New South Wales Energy Savings Scheme.

The scheme's principal objective is to create financial incentives to reduce the consumption of electricity through energy savings activities.

Mark Miller, managing director, said “by earning Energy Savings Certificates we are able to offer our clients improved financial returns as well as improving the uptake of our solutions.”

By producing the certificates the company can manage the governance and administration requirements associated with this activity as well as undertake the process of trading the certificates to scheme participants for each eligible project.

Participants in the scheme purchase certificates from Accredited Certificate Providers who create the certificates following the completion of energy saving activities.

The scheme places a requirement on participants, such as energy retailers, to obtain and surrender Energy Savings Certificates that represent eligible energy savings under the scheme.

The Independent Pricing and Regulatory Tribunal, a New South Wales government body, provided the accreditation in relation to the specific Recognised Energy Savings Activity (RESA) for High Intensity Discharge (HID) lighting equipment upgrade and optimisation.

This RESA accreditation reflects Greenearth's use of core technology provided by Israeli-based partner, Metrolight. Metrolight is the leading manufacturer of Smart Electronic Ballasts that power HID energy efficient lighting systems.

Richard Branson's Virgin Green Fund has invested in Metrolight whose HID lighting solutions can deliver substantial energy savings of up to 65%.

The company’s subsidiary, Greenearth Energy Efficiency, provides comprehensive lighting solutions to customers, including: core electronic HID technology, sensors, control systems alongside turnkey installation and commissioning of complete systems either for retrofitting of existing premises or new installations that offer a more effective energy efficiency solution.

Greenearth may add further RESAs that could include projects from lighting upgrades using different technologies, or projects from company subsidiaries such as waste heat recovery projects from Pacific Heat and Power, as well as potential solar hot water upgrades using existing Greenearth Solar Energy technology called ZenithSolar.

Greenearth is currently advancing the Geelong Geothermal Power Project, in which the company signed an agreement with Alcoa (ASX: AAI) late last year.

Greenearth Energy appoints Jim Lawless as geothermal energy advisor

Mon, 02 May 2011 15:52:00 +1000

Greenearth Energy (ASX: GER) has appointed Jim Lawless, widely recognised as one the world's most respected geothermal practitioners, as independent geothermal energy advisor to the board of directors effective May 2011.

Lawless has a track record of 30 years geothermal industry experience, including serving as geothermal resources practice leader for Sinclair Knight Merz Pty Ltd., the world's leading consulting firm to the geothermal industry.

Lawless will provide technical and strategic advice to Greenearth Energy's board on the company's domestic projects and international geothermal development opportunities, in particular in Indonesia and the Philippines.

Greenearth Energy raises A$610,000 for renewable energy projects

Fri, 15 Apr 2011 11:27:00 +1000

Greenearth Energy (ASX: GER) has raised A$610,000 through a placement of 7,625,000 ordinary fully paid shares at $0.08 per share to raise additional funds for its current suite of renewable energy projects.

The capital raising was done through Intersuisse Limited.

Greenearth Energy aims to become a leading edge renewable energy company primarily focused on conventional geothermal energy resources while implementing complimentary technologies that have the potential to deliver near and medium term returns.

In November 2010 a ground breaking agreement between Greenearth Energy and Alcoa (ASX: AAI) was signed, in a critical first step towards the establishment of base load renewable energy generation in Victoria.

The agreement with Alcoa was significant as it potentially ticks most of the boxes for Greenearth's Geelong Geothermal Power Project including site, grid connection, demonstration plant, base load renewable energy offtake and grid connection.

The Greenearth Energy Group now includes subsidiaries whose purpose is to facilitate the successful implementation of aligned technology opportunities domestically and internationally.

A new subsidiary, NEWCO2FUELS Pty Ltd was established during the course of the last quarter as a result of ongoing investigations in the area of CO2 conversion technology.

On January 24 Greenearth subsidiary, Greenearth Solar Energy Pty Ltd, and major shareholder Advance Publicity Limited, agreed on a high profile demonstration site for the ZenithSolar Z20 technology.

Greenearth believes the technology has the potential to efficiently deliver the dual benefits of emissions free power and hot water to a wide range of customers throughout Australia and the wider Pacific region.

Greenearth Energy is currently trading at $0.08.

Greenearth Energy to demonstrate Israeli solar technology in Melbourne

Mon, 24 Jan 2011 11:04:00 +1100

Greenearth Energy (ASX: GER) subsidiary, Greenearth Solar Energy Pty Ltd, and major shareholder Advance Publicity Limited, have agreed on a high profile demonstration site for the ZenithSolar Z20 technology.

The site is located in Port Melbourne only minutes from Melbourne's central business district, and will introduce to the Australian market the unique, state-of-the art, High Concentration Photovoltaic (HCPV) / Combined Heat and Power (CHP) solar technology.

Israel based ZenithSolar Ltd signed a conditional distribution agreement with Greenearth Energy under which a trial of the ZenithSolar Z20 technology will be carried out in Victoria in early 2011.

The proposed demonstration will be the first outside Israel and the site at 69 Fennell Street will allow potential investors, project developers and offtake customers easy access to the technology.

Greenearth believes the technology has the potential to efficiently deliver the dual benefits of emissions free power and hot water to a wide range of customers throughout Australia and the wider Pacific region.

Greenearth Energy sells maiden electricity generating PureCycle system in Australia

Mon, 10 Jan 2011 10:14:00 +1100

The Australia Gympie Timber Company has been the first company in Australia to purchase the PureCycle system from Greenearth Energy (ASX: GER).

PureCycle harnesses waste heat in the form of hot water, low pressure steam or thermal oil to generate electricity.

The impact on the Gympie Timber Company is actually very big, as they will now become a net exporter of electricity, boosting short term cash flows and effectively adding a second revenue stream to the company.

With the exported power, an energy retailer has made a preliminary offer for both power and the Renewable Energy Certificates.

Mark Miller, managing director of Greenearth Energy, said “Vast amounts of useable heat energy are expelled into the atmosphere on a daily basis.

"We believe that waste heat recovery along with energy efficiency represents a substantial market opportunity for our company."

The sale to the Gympie Timber Company was made by the Greenearth Energy subsidiary Pacific Heat and Power.

Greenearth Energy subsidiary rolls out Israeli solar technology in Australia

Mon, 06 Dec 2010 17:34:00 +1100

Greenearth Energy (ASX: GER) subsidiary, Greenearth Solar Energy Pty Ltd, and Israel based ZenithSolar Ltd have teamed up to introduce the unique, ZenithSolar Z20 technology to the Australian market.

ZenithSolar Z20 is a state-of-the art high concentration photovoltaic (HCPV) / combined heat and power (CHP) solar technology.

The companies have signed a conditional distribution agreement under which a trial of the ZenithSolar Z20 technology will be carried out in Victoria in early 2011.

If the trial is successful it will result in the companies establishing an exclusive distribution agreement for the technology for Australia, New Zealand, Indonesia and a number of Pacific Island nations.

Developed in Israel and successfully operating since April 2009 the ZenithSolar Z20 CHP Solar Technology features two 11m2 collectors, mounted on a dual axis tracker.

This then concentrates incoming solar power onto a receiver which consists of a multi junction PV coupled to a heat exchanger that efficiently converts concentrated solar flux into DC electrical power and thermal energy.

DC electrical power is then converted to AC power and fed to either direct to a customer or the grid.

Thermal energy created by the ZenithSolar Z20 CHP solar technology is pumped through a closed loop system to proximate customer applications.

Thermal energy produced by Zenith Solars' Z20 CHP solar technology can also be utilised for cooling, desalination including brackish water purification.

The Z20 CHP solar technology has been successfully operating in Israel since early 2009, is continuing to be refine and improved to where it is now has the industry's highest combined efficiency backed by proven field performance.

Mark Miller, managing director of Greenearth Energy, said “we believe the ZenithSolar Z20 CHP solar technology has the potential to efficiently deliver the dual benefits of emissions free power and hot water to a wide range of customers."

“This latest strategic initiative further underpins our objective to deliver our core geothermal energy projects in the Australian market and wider Pacific Rim while concurrently establishing aligned and complementary technologies in the broader renewable and energy efficiency sectors." he added.

Greenearth Energy and Alcoa milestone agreement paves way to progress Geelong Geothermal Power Project

Mon, 15 Nov 2010 11:06:00 +1100

The agreement with Alcoa is significant as it potentially ticks most of the boxes for Greenearth's GGPP including site, grid connection, demonstration plant, base load renewable energy offtake and grid connection.

Greenearth Energy kicks off survey to better understand Latrobe Valley geology

Thu, 04 Nov 2010 15:14:00 +1100

Greenearth Energy (ASX: GER) has commenced its magneto-telluric (MT) ground geophysical survey in the Latrobe Valley and onshore Gippsland Basin (GEP 12 & 13) regions of Victoria in order to better understand the geology and to define the depth of older basement rocks beneath the sediments.

The MT survey consists of approximately 40 survey points and will traverse the Latrobe Valley between Glengarry North and Willung South at 1 km intervals and will be conducted by Perth based Moombarriga Geoscience Pty Ltd.

The Latrobe Valley is ideally placed to become a significant geothermal production region and Greenearth Energy holds the exclusive rights to explore for and develop its geothermal resources.

It is Victoria’s main power generation hub, is home to a number of high energy consuming and large CO2 producing industries, and currently 22% of Australia's greenhouse gas emissions emanate from this strategically important region.

Mark Miller, managing director, said "as we seek to develop our future energy security in a carbon constrained world, new “clean” energy sources such as geothermal which is base load and emissions free must be explored and developed."

"The thick coal measures found within the Latrobe Valley are unique, and provide for excellent thermal insulation which increases the prospectivity of the area for geothermal resource development.”

The MT geophysical method is a passive technique that uses a series of coils and electrodes buried at shallow depths in the ground to record naturally occurring electric (telluric) currents that flow through the earth that are induced by natural variations in the earth’s magnetic field.

These variations may be used to calculate the resistivity of the ground which may vary depending on the local geology. At each station (site) measuring equipment is installed for approximately 24 hours, after which the equipment is removed and the site fully rehabilitated.

Knowledge of the basement depth and structure may act as an indirect method for determining the location of potential hot sedimentary aquifer geothermal systems.

Previous work has indicated that the Latrobe Valley is highly prospective for Hot Sedimentary Aquifer style geothermal systems that utilise existing permeable aquifers at depth beneath thick sedimentary sequences.

The thick coal layers throughout the Latrobe Valley provide excellent thermal insulation which helps trap heat beneath and enhances the temperature at depth.

Advance Publicity becomes substantial shareholder in GreenEarth Energy

Fri, 15 Oct 2010 14:04:00 +1100

GreenEarth Energy (ASX: GER) has reported that Advance Publicity Pty (the Izmar family) acquired 7,853,334 ordinary shares in on market purchases on 12th October at A$0.06 per share, increasing its stake in GER to 12.65%.

Currently, GER is trading at $0.08.