TWO KEY PEOPLE ADDED TO THE DIGIMAX TEAM
- Lotus Energy has over 94 MWs already funded either in operation or coming on-line
- Contracted revenue from these is forecast at $27 million in 2020 and $32 million 2021
- Lotus Energy has over 500 MWs of new projects to develop into its existing pipeline
- Sister-company has over 30 years of renewable energy operations with more than 1,000 MW’s installed
- Existing revenues cover ALL fixed operating costs
- Power rates in Australia are among the highest in the world
- All projects have long-term commercial Power Purchase Agreements
- Energy projects generate revenues from commercially priced power generation PLUS maintenance contracts, related service contracts, and government subsidies
- 1,500 MWs of additional greenfield projects in process of being contracted in Australia, Asia and Africa over next 3 to 5 years
TORONTO, ON / ACCESSWIRE / February 26, 2020 / DIGIMAX GLOBAL SOLUTIONS (CSX:DIGI) (the “Company” or “DigiMax“) is pleased to announce that it has officially commenced its consulting efforts with Lotus Energy Cooperative (“Lotus Energy”), based in Melbourne, Australia.
Renewable energy generator and developer Lotus Energy is swiftly capturing the growing clean energy market, with a projected 500 MWs of near shovel-ready projects to be added into its existing project pipeline plus a 1.5 GW project is anticipated to be signed-off to commence over the next 12 months.
Lotus Energy already has 94MW installed or being installed currently in Australia. These installations will generate approximately $27M in revenues in 2020 and $32M in 2021 and will continue to produce contracted income for the next 30 years.
A further 500MW of installations have been developed and are at various stages of contracting in Australia, Africa, India, and the United Kingdom, all of which can be deployed over the next 12 months.
Lotus Energy is a Distributive Co-Operative based in Australia, entitling its equity holders to receive dividends from project net profits from all co-operative revenue flows.
Lotus Energy’s current and planned projects span multiple countries providing both diversification and stable cash flow for investors over long time horizons.
Dividend entitlements embrace profits from all co-operative revenue streams including sale of energy, energy transfer fees, maintenance contracts, government grants and subsidies, electric vehicle station revenues, and bi-product revenues such as recycling electrical cabling and recycling of end of life solar panels.
In Australia, Lotus Energy’s projects benefit from government subsidies equal to up to 30% of capital costs, which decreases risk and improves investor ROI.
Lotus Energy is developing an innovative peer-to-peer energy exchange. It’s proprietary energy transfer system known as LET-NET, will allow people to exchange energy or economic value of energy, globally between residential solar array, commercial solar array, and electric vehicle charging stations and energy storage batteries to encourage a smarter, cost effective and more connected grid.
Lotus Energy’s also engages in alternative sources of revenue such as contract renewable energy projects. One example of this is the planned conversion of the fossil fuel power supply of 50,000 cell towers (of a total of 300,000 cell towers) to solar renewable energy, replacing costly diesel generation.
“Capitalizing on 30 years of development and operating experience in the renewable energy industry, we are excited about capitalizing on our new contracts that are underpinned by 30-year power purchase agreements, and strong EPC contracts with our equipment manufacturer partners” says Anthony Vippond, CEO of Lotus Energy said at a recent conference. “We believe that Lotus Energy is well on its way to becoming one of the largest and most successful renewable energy providers in the world.”
The management group behind Lotus Energy has more than 100 years of combined successful experience in funding, installation and technical operation of renewable projects in three continents. Management, strengthened by multi-generational experience as clean energy practitioners in Australia, are using this exceptional history to accelerate their path to becoming a global leader in renewable energy installation operations and energy transfer technology.
Lotus Management Team
Anthony Vippond – Founder and CEO
Anthony Vippond, with nearly thirty years of experience as a C-level executive, is experienced at operating established energy enterprises, as well as scaling young ventures into high-value companies. Having owned and managed All Electrical Group (AEG), a top Australian electrical and communications company, Anthony grew the operations from 6 members, to a 100-employee conglomerate in under a decade. After AEG became a market leader, he led a successful exit and went on to manage Torus Group, a clean energy conglomerate for over 20 years. Throughout his tenure with these companies, Anthony worked as a board member and director of other ventures relating to clean energy, robotics, automation, construction and advanced communications technologies.
Ian McBain – Founder and Head of Finance and Treasury
With 40 years of work as a Chartered Accountant and Corporate Advisor, Ian McBain uses his experience in business development to advance Lotus Energy’s expansion. Having prepared expert business forensic reports for presentation at the Supreme Court of Australia Ian has assisted businesses with corporate IPO floats and held numerous advisory positions.
Lt. Colonel (Retired) Kyle Tyrrell – Chief of Operations
After serving with the Australian Army as an Infantry Officer, Kyle lead the counter-terrorism, Security and Intelligence division of Australia’s National Security Agency. Holding an MBA, GAICD, CPM, PSC(j), and over 30 years of practical leadership experience in highly complex situations, Kyle has a proven record of significant contribution to the vision of the organization he serves.
James Madden – Co-Founder
Since 1998, James worked with the largest enterprise accounts within IBM, managing both hardware and software projects in the renewable energy sector. James has experience managing large teams to deliver complex programs of work. James experience spans both traditional methodologies (waterfall), to agile methodologies.
New Additions to DigiMax Team
DigiMax is pleased to confirm that it has added two individuals to its banking and consulting teams to further attract and assist its business consulting clients.
Natu Myers, Registered Dealing Representative
Natu joined DigiMax a few months ago as a consultant and was recently approved by Ontario regulators as a Registered Dealing Representative for DigiMax Capital Corp, an Exempt Market Dealer in Ontario wholly owned by DigiMax. Natu has a strong proficiency in blockchain and digital currencies and holds a Bachelor of Computer Science from Queen’s University.
Chris Ciaravino, Business Development Consultant
Chris recently joined DigiMax to add bench strength to our renewable energy and structured-finance business clients. Chris holds a full Chartered Financial Analyst (CFA) charter, is a Board Member of the Canadian Nuclear Society, and has developed a strong knowledge and contact base in blockchain-related businesses. He has also participated directly in a large structured-finance funding which requires highly specialized contracts including long-term offtake, long-term supply, EPC and Operating contracts all with liquidated damages. Chris holds a Bachelor of Science in Chemical Engineering, with a Minor in Sustainable Energy from the University of Toronto.
DigiMax is based in Toronto and is the first global company in the Digital Security space to be both publicly listed (listed on the Canadian Securities Exchange-symbol: DIGI) and to be approved by OSC in Ontario, Canada as an ‘Exempt Market Dealer’.
DigiMax is currently seeking to become a registered dealer in several other countries and is developing a state-of-the-art platform with its partners to provide qualified investors preferred access to high quality digital security offerings in the rapidly growing Digital Security market. DigiMax also assists companies to raise capital through traditional forms of securities.
The Company has a highly qualified management team with extensive experience in global financial and capital markets, combined with a rapidly expanding global presence with joint venture partnerships already established in such important geographies as USA, Hong Kong, Indonesia, Malaysia, England, Singapore, Korea and Malta with discussions or negotiations underway in several more.
President & CEO
Cautionary Note Regarding Forward-looking Statements
NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: shareholders approving the change of name to DigiMax, the adequacy of our cash flow and earnings, the availability of future financing and/or credit, and other conditions which may affect our ability to expand the App Platform described herein, the level of demand and financial performance of the cryptocurrency industry, developments and changes in laws and regulations, including increased regulation of the cryptocurrency industry through legislative action and revised rules and standards applied by the Canadian Securities Administrators, Ontario Securities Commission, and/or other similar regulatory bodies in other jurisdictions, disruptions to our technology network including computer systems, software and cloud data, or other disruptions of our operating systems, structures or equipment.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE: DigiMax Global Solutions
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