Newly launched energy investment company, Sustainable Energy Australasia (SEA), is nurturing its development of green technologies by utilising the revenue collected from more traditional energy methods.
While technologies such as wind and hydro-electric are set to take over in the near future as our most important energy sources, SEA is currently making use of gas and oil reserves in Oklahoma and Texas in order to help fund the development of these technologies.
SEA director, Richard Pritchard, has developed previous renewable energy assets and technology and has strong connections to Indian authorities through the Australia India Business Council where he chairs the Sustainable Energy Sub Committee.
Mr Pritchard believes that this kind of ‘holistic’ approach to furthering sustainable energy is going to be beneficial both to the advancement of these technologies and to investors.
“A lot of companies are focussing purely on using green energy and, at the moment, these technologies are being stifled by the fact that they aren’t providing a great deal of return for investors,” he says.
“As these are perceived as being less attractive investment opportunities, a lack of capital is going to hinder what is ultimately good work being done by these companies.
“We are looking to tap into the existing energies market and provide a practical transition into sustainable energy technologies for the future.”
SEA has a focus on developing energy projects in the Asian and Pacific Rim countries.
SEA’s current interests are in India and the USA, where SEA has begun developing a portfolio of energy assets with the intent to take advantage of carbon reduction schemes such as the Clean Development Mechanism (CDM).
The CDM, a market-based mechanism of the Kyoto Protocol, allows emission-reduction or emission removal projects in developing countries to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2.
SEA will also be well placed to take advantage of the new Australian Renewable Energy Target and Carbon Reduction Scheme.
One of SEA’s main target markets is India, where the company has indentified a need for renewable energy due to a vast population that has an expanding middle class and is experiencing increased industrialisation.
Following the development and eventual profits of the gas and oil reserves in the USA, SEA will be looking to develop a 3.2 Megawatt wind farm in India, as well as hydro electric schemes in India and Sri Lanka with a capacity of roughly 15 Megawatts each. 18 Megawatts of renewable wind energy capacity provides for at least 5000 households.
Bruce Scambler, an SEA executive who represents the “traditional” energy side of the company, has had many years experience in Oklahoma oil and gas, having managed operations for his own as well as other oil and gas development companies there.
“Oklahoma, after all these years, still has massive oil reserves that are providing great returns,” he says.
“It’s not really a ‘new frontier’ in the oil industry and as such it makes the whole process relatively simple. Added to this is the fact that the geology of the area makes the extraction much easier than other methods such as deep sea drilling.
“We’re confident in our ability to use the capital generated by these projects to the further the green arm of the company – the wells in Oklahoma come with a wealth of knowledge and are able to be used efficiently.”
The Board and management of SEA are keenly focused on continuing its growth through 2010 by a public capital raising and subsequent listing on a suitable Stock Exchange.
SEA are focussing on being able to provide positive shareholder growth as equity markets return to more normal function, and energy prices recover ground after the global economic situation begins to recover. For more information visit www.seaustralasia.com.au
SEA is currently listed on the Australian Small Scale Offerings Board (ASSOB). For more information visit the ASSOB website at www.assob.ca.au/sea
Sustainable Energy Australasia Limited (SEA
Sustainable Energy Australasia Limited (SEA) is an Australian Public company focused on the development and acquisition of a portfolio of low carbon emitting energy assets. The focus is on developing energy projects in the Asian and Pacific Rim countries including the USA. SEA’s current interests are in India and the USA. SEA is developing its portfolio with the intent to take advantage of carbon reduction schemes such as the Clean Development Mechanism. SEA will also be well placed to take advantage of the new Australian Renewable Energy Target and Carbon Reduction Scheme.
P: 0423 403 449
Lou PowerP: 0412 687 126