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Melbourne: December 16 2010.
Cetus reaches major milestone -
Power generation at Rubicon Valley Site Melbourne: December 16 2010.
As many of you would know, Cetus is currently nearing an important stage of its development. We would therefore like to provide you with an update on recent developments and progress at Cetus Energy.
AGL Scoping project update
Our Scoping project in regional Victoria, in partnership with AGL, is now in its final stage of testing. The Scoping project sought to identify all potential issues involved in a pilot demonstration project. As part of this project Cetus also installed a small turbine in the raceway of AGL's Rubicon Valley Mountain Streams Hydro site. This project has allowed Cetus to understand the site issues we would need to overcome prior to engaging in a Pilot Demonstration project.
 The results being generated by the Scoping project devices are very encouraging and have provided clear evidence that the Cetus Tailrace Turbine is capable of generating commercial quantities of power. Our modelling of these results has given us the confidence to move forward and commence the planning of a 100kW Pilot Demonstration Project.
At a meeting held at the Rubicon Valley site in early November, with our partners at AGL, we presented the interim results of the Scoping project and discussed next steps. Cetus is now engaged in long term testing of the device in the Rubicon site in order to gather materials lifecycle data and develop an Operations and Maintenance protocol. This data will provided critical input into the Pilot Demonstration Project.
Left: George Velissaris, Project Team Leader, lowering a Cetus Turbine into the Rubicon Raceline
First External Funding Round
With the Scoping project in its final stage, Cetus has now reached a major milestone. Having achieved proof of concept and proof of technology, we are now rapidly working toward building our Commercialisation model. This involves building both the business development and engineering and design capability required to take Cetus to the global hydro electric market. As a result Cetus will, in early 2011, commence its first external funding round. We are currently preparing documentation to support the raising of AUD$2m in the first half of 2011 and will be working with a major professional services firm to assist with this process. If you would like to discuss any aspect of this activity, please don't hesitate to contact either Simon Marriott or Michael Johnson.
Victorian State Government Sustainable Energy Pilot Demonstration project (SEDP)
In late September, Cetus submitted an Expression of Interest in the Victorian State Government's Sustainable Energy Pilot Demonstration Program (SEDP) funding round. (This program is part of the State Governments ongoing commitment to the Energy Technology Innovation Strategy. A strategy, which has the support of the newly elected Liberal Government.) This project would assist Cetus with the roll out of our Pilot Demonstration Project, with the State Government support playing an important part in the commercialisation process.
We are pleased to report that our Expression of Interest was successful. We have met with the Department of Primary Industries and are now entering the process of preparing a Request for Proposal, which will be submitted in late April with a decision hopefully in either May or June.
The success of the EOI and the feedback we have received from the Independent Assessment Panel clearly validates the compelling nature of both our novel technology and our disruptive business model.
International Tidal Energy Summit 2010, London
Cetus Managing Director, Simon Marriott and Technology Director, David Dipnall both recently attended the International Tidal Energy Summit held in London in November. The annual conference provides Cetus with a comprehensive insight into the current activities and status of other companies and technologies in this market. It also provides a good indication as to the development of the sector and how different markets are dealing with the challenges surrounding infrastructure and grid connection issues. We firmly believe that the Cetus proposition will resonate in the sector once the grid infrastructure investment has been made.
During the conference, the team engaged in some valuable conversations with some of the world's leading infrastructure players and we will keep you abreast of the outcomes of these conversations as we move forward.
Finally, we would like to thank you for all your support and interest in 2010 and wish you a safe festive season and a prosperous New Year. 2011 will be a pivotal year for Cetus and we look forward to sharing the journey with you.
If you have any questions or would like to talk further about Cetus, please don't hesitate to call.
For further information contact:
Simon Marriott.
Email: simon.marriott@cetusenergy.com.au
Mobile: 0419 362 874
Michael Johnson
Email: michael.johnson@cetusenergy.com.au
Mobile: 0417 395 550
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