Will Wasabi go for a run today after the announcement just before the close yesterday?
Cobby
News Wasabi: Siemens to build Kalina Cycle power station
16:35, Thursday, 24 November 2005
Sydney - Thursday - Nov 24: (RWE Australian Business News) - Wasabi Energy Ltd (ASX code: WAS) reports the Siemens Industrial Solutions and Services Group, based in Erlangen, Germany, has received an order to build a turnkey geothermal power station in Unterhaching, near Munich, utilising "Kalina Cycle" technology. Exergy Inc has licensed the use of its Kalina Cycle technology to Siemens since 2002 and says it is delighted that years of commitment and hard work in applying the Kalina Cycle to the European geothermal market is now paying off. "There are numerous other similar projects in Europe and other parts of the world in which Exergy's network of licensees are experiencing unprecedented interest which is translating into real projects such as that in Unterhaching," directors say. Exergy could start receiving royalty payments for the licensing of the technology for use at Unterhaching as early as next month. Wasabi Energy currently owns 46 per cent of Exergy. The directors say this latest development, along with progress of other licensees of the Exergy technology including AMP Resources LLC, Geodynamics Ltd and Ebara of Japan, provides Wasabi with assurance of Exergy's inherent value. Shares in Wasabi closed up 0.4c to 3.4c today.
