EnviroMission has secured a formal agreement with New York Exchange listed investment bank, Raymond James to reach into the US financial markets with an eventual aim of constructing several solar tower stations.
Raymond James has a strong technology and energy focus, with revenues of US$3.2 billion in 2008. The investment bank has the capability to service the financial requirements of EnviroMission, which previously did not have the resources to enter fully into the US market.
“This relationship is viewed as an integral step in the roll out of Solar Tower technology on a global basis, and in particular the United States,” said EnviroMission Executive Chairman, Mr. Roger Davey.
Solar tower stations work by using the sun’s radiation to heat a large body of air under an expansive collector zone, which is then forced by the law of physics to move the hot wind through large turbines to generate electricity. A solar tower power station will create the conditions to cause hot wind to flow continuously through 32 x 6.25MW pressure staged turbines to generate electricity.