ENTRADE Energiesysteme AG Receives Major Order From Nigeria
DAHLEM-SCHMIDTHEIM & DÜSSELDORF, GERMANY--(BUSINESS WIRE)--
ENTRADE Energiesysteme AG has received a major order for the establishment of a state-wide energy and waste management system from the government of Imo State in Nigeria. An agreement on the subject has been concluded with Owelle Rochas Okorocha, the Governor of Imo.
Under the agreement ENTRADE will initially set up 200 energy and recycling stations in the state capital Owerri. This part of the planned project is to be completed by the end of 2015, followed by the optional construction of up to 2,300 further regional supply centres throughout the entire state, which lies in the South of Nigeria. ENTRADE will operate these centres itself, both processing waste and then selling the electricity which is generated.
The aim is to build up a comprehensive power-supply network, based on the micro biomass generators developed by ENTRADE with an individual electrical output of 20 kW. These are to be fuelled mainly with bamboo pellets. "This fast-growing raw material could for the most part solve our current power-supply problems", comments Prof. Okee Okoro from the state's Ministry of Energy and the Environment, adding: "This pioneering project is therefore highly significant not only for our federal state but for the entire country of Nigeria."
Decentral power supplies for Africa's most populous nation
Because of its underdeveloped infrastructure and a power grid which is plagued by overloads and breakdowns Nigeria, with a population of 160,000,000 the most populous country in Africa, is highly dependent on diesel generators. However, in spite of its extensive oil resources the country has so far not been able to keep pace with its growing energy consumption.
ENTRADE has specialised since 2009 in the processing of solid biomass to provide a fuel source for decentralised power generation. The company's integrated energy and waste management system is being developed in cooperation with the Fraunhofer Institute for Environmental, Safety and Energy Technology UMSICHT, and is individually adapted to the requirements of the specific location. The technology involved, which is to be applied for the first time in Nigeria, enables the decentralised supply of power on the basis of renewable energy sources, and will help to improve the lives of people locally and strengthen the local economy.
From September 2014 ENTRADE Energiesysteme AG will be listed on the NASDAQ OMX. The securities identification number is ENTR86.
For further details please see www.entrade.de.
Please note: this information is intended for investors who are in a position to assess and assume possible increased risks in connection with investment in the shares of this company. The information provided here does not represent an offer of sale or an invitation to submit an offer for purchasing or subscribing to shares in the company.
Copyright Business Wire 2014