Acuity Technology Management completed an independent evaluation on EnviroMission’s Australian Solar Tower technology, valuing it at AUDS$60,000,000. The valuation includes the intellectual property, development rights and overall commerciality of the technology.
“This valuation represents an independent assessment of the value of EnviroMission's enhancements to Solar Tower technology, new intellectual property, knowhow and commercial prospects and outcomes such as the recent power purchase agreement to sell electricity generated from the proposed Arizona Solar Tower to the Southern California Public Power Authority (SCPPA),” stated Roger Davey, EnviroMission chief executive officer.
Acuity Technology Management placed a relief from royalties during its valuation, which included a probability adjusted net present value for possible future cash flows that are founded on revenue projects from the power purchase agreement EnviroMission holds with SCPPA.
“This valuation reflects a current value of the actual technology that is being commercialized in Arizona for the SCPPA Power Purchase Agreement (PPA); it reflects the value of the enhancements, research and development and detailed engineering that has produced intellectual property and know how to provide greater commercial prospects from the technologically and economically enhanced Australian Solar Tower renewable energy technology that is owned by EnviroMission” concluded Davey.