- Developing Renewable Clean Energy Projects in Key Markets Such as Vietnam, Tanzania, Zanzibar and Others.
- Acquired Patented Waste Management Technology that Cleans Up Waste Sites Creating Residual Revenue via Sale of Sterile Pellets, Biofuels, and Power Generation.
- New CEO Pays Off Convertible Note to Protect Shareholder Value.
- MOU with Tanzanian Government to Develop a 350-Megawatt Combined Cycle Power Plant.
- Feasibility Report Filed to Secures 207-Acre Land Package for Clean and Renewable Energy Park Project at Kibele Landfill in Zanzibar.
- Strategic Partnership with Phambili, USA for Municipal Solid Waste and Organic Waste Processing and Refinement to Valuable Market Commodities,
- Waste-to-Energy Technology to be Installed at Material Recycling Facility in Southern California
- Exclusive Sales, Marketing and Distribution Agreement in India for Waste-to-Energy Project with Initial Funding in Place.
- Commitment from Zanzibar to Supply 200 Acres of Land on a 33-Year Renewable Lease for Proposed Clean and Renewable Energy Park Project.
Astra Energy Inc. (OTCQB: ASRE) is an integrated solutions provider investing in and developing renewable and clean energy projects in markets where demand is high, supply is limited and there is an opportunity to address other imminent market needs.
The ASRE corporate strategy is rooted in securing technologies and assets; identifying viable market opportunities; and bringing together resources, expertise, technology and defined action plans to execute first-in-class projects that benefit communities, local economies, the planet and the Company’s investors.
ASRE has a goal to create a more secure and sustainable power sector that supports the Company’s purpose, mission and values to transform the economic, environmental and social landscape for generations to come.
For investors, ASRE has an attractive share structure with approximately 66.5 million shares outstanding and an approximate public float of 24 million. There are no preferred or outstanding shares issued and no long term or convertible debt on the balance sheet.
New ASRE CEO Immediately Pays Off Convertible Note Ahead of Maturity Date
On August 10th ASRE announced that the company's new Chairman and CEO, Ron Loudoun prepaid the only convertible note on the balance sheet to avoid any potential dilution to the company’s stock and to protect shareholder interest.
Mr. Loudoun has extensive experience in business development and operational leadership as well as an innate ability to achieve common goals that advance aligned strategic priorities for the companies he is involved in. He brings expertise to ASRE that will ensure efficiency, focus, and a drive toward creating value are embedded in all aspects of organizational decision-making.
"Astra is at a very exciting operational inflection point. Years of concerted effort and business development have brought the company to a point where both the Holcomb and Regreen technologies can be presented to a backlog of potential customers. With manufacturing in place, the timing for this company to advance could not be better. We are looking forward to a very rewarding time for all stakeholders," said Ron Loudoun, ASRE CEO and Chairman.
MOU with Tanzanian Government for the Development of a 350-Megawatt Combined Cycle Power Plant
On June 22nd ASRE announced that the Company's subsidiary Astra Energy Tanzania Limited has executed a memorandum of understanding (“MOU”) with the Tanzania Electric Supply Company (“TANESCO”) to develop a 350-megawatt (“MW”) combined cycle power plant in mainland Tanzania.
ASRE and TANESCO, the government-owned electric utility of the United Republic of Tanzania, have been working towards this since March 8, 2022. ASRE first announced its engagement with the government of Tanzania at a meeting at the U.S. Chamber of Commerce in Washington, D.C. The objective was to reach an agreement to construct a large-scale, combined cycle power plant using natural gas as the primary fuel source.
As with the 50 MW Clean and Renewable Energy Park Project at Kibele Landfill in Zanzibar previously announced, ASRE intends to own and operate the 350 MW project as an independent power producer, selling the power to TANESCO. The combined projects have the potential to generate significant recurring revenues for ASRE for many years, with a potential projected gross revenue stream of an estimated $180 to $200 million annually over a minimum of 25 years.
ASRE Presents Feasibility Report, Secures 207-Acre Land Package for Clean and Renewable Energy Park Project at Kibele Landfill in Zanzibar
On June 20th ASRE announce that it has successfully presented a feasibility report and executed documentation to secure 207 acres of land on a 33-year renewable lease with the Revolutionary Government of Zanzibar for the ASRE Zanzibar Clean and Renewable Energy Park project (“ZCREP”).
ASRE officials met with the president of Zanzibar, H.E. Dr. Hussein Mwinyi (“H.E.”), along with officials from Zanzibar Electricity Corporation (“ZECO”); the Ministry of Water, Energy and Minerals; and the Zanzibar Utilities Regulatory Authority. During the meeting, ASRE presented H.E. with the completed feasibility study for the project. H.E. restated his continued support for the ZCREP project and encouraged ASRE and the government officials present to “start negotiations on a power purchase agreement immediately.”
ASRE intends to own and operate the project as an independent power producer, selling the power to ZECO, Zanzibar’s state-owned utility, via a long-term power purchase agreement. The combined solar and waste-to-energy project will generate 50 MW of clean and renewable energy on Unguja Island, the largest island in the Zanzibar archipelago. The land package consists of 199 acres in Kibele district for the solar PV portion of the project and an additional 8 acres, adjacent to the solar park and within the confines of the Kibele landfill, for the waste-to-energy facility.
The project will also consume 300 tons per day of municipal solid waste (“MSW”), which will reduce the stress on the Kibele landfill, the island’s only dedicated receptacle for waste. The ASRE Regreen Total Waste System (www.regreentechnologies.com) will convert the MSW into valuable electrical power and marketable revenue-generating byproducts.
Additionally, a battery energy storage system component will be installed along with the solar PV plant to both help stabilize the power supply and drastically reduce Unguja Island’s reliance on a single 100-MW submarine cable from mainland Tanzania, which is currently the island’s sole source of normal power. It is routinely operated at greater than 90% of its capacity during periods of peak demand on the island.
ASRE also plans to deploy Holcomb Energy Systems’ (www.holcombenergysystems.com) cutting-edge In-Line Power Generator solution to amplify the project’s output, helping to support Zanzibar’s move toward energy independence. ASRE will commence detailed engineering design and required environmental impact studies. Construction of the facility is expected to start in 2024, reaching commercial operation in 2025.
Strategic Partnership with Phambili, USA
On June 15th ASRE announced that the Company’s subsidiary Astra Energy California Inc. has finalized an agreement with Phambili, USA. Phambili solidifies municipal solid waste (“MSW”) and organic waste processing to a non-waste material and refinement to valuable market commodities, such as sustainable aviation fuel (“SAF”).
The strategic partnership is intended to combine total waste processing utilizing the ASRE Regreen Technologies energy pellets with the Phambili conversion unit to further refine into finished marketable commodities for global distribution. The goal of the collaboration is to apply the combined technologies to provide zero-emission, low sulfur, high Btu/Kcal value commodities to the world, including, but not limited to, sustainable aviation fuel, marine biofuels and organic pesticides.
Agreement to Install Waste-to-Energy Technology at Material Recycling Facility in Southern California
On May 25th ASRE announced that it subsidiary Regreen Technologies Inc. has finalized an agreement with one of the largest independent material recycling facilities ("MRFs") in Southern California. The agreement permits ASRE to install and operate its one-ton-per-hour waste material processing system that converts municipal solid waste (“MSW”) into organic compostable pellets, which can be resold to multiple marketable solutions.
The MRF recently received approval from the Local Enforcement Agency ("LEA") of Southern California, which has some of the highest environmental standards in the world. As a result of the agreement, ASRE will establish a research and development project at its facility to demonstrate the capability to comply with the new regulations of California SB 1383 enacted by the state of California. The regulations require all residents and businesses to recycle organic materials such as food waste, food-soiled paper and yard debris. SB 1383 is a bill designed to reduce disposal of organic waste, including edible food, in landfills while establishing methane reduction targets for California. The purpose of the bill is to reduce greenhouse gas emissions such as methane while addressing food insecurity.
In part, the LEA granted approval based on independent lab test results from pellet material processed by the ASRE system. The material showed that the moisture content was below 7%, the leading indicator pathogens were reduced by 95% (fecal coliform/salmonella) and the 503 heavy metals by over 60% (pass/fail), to comply with the standards established for Senate Bill 1383. The ASRE technology converts municipal solid waste and organic waste into a non-waste pellet suitable for conversion to high-yield commodities.
The MRF processes approximately 400 tons of MSW per day, which can result in approximately 160 tons of usable and resalable pellets per day. The goal is to expand to commercial scale and become a reliable source for this type of feedstock supply. The commercial-scale volume is upwards of 2,400 tons per day, which is the type of facility that will help California reach its goal of methane reduction and landfill remediation.
The ASRE goal for this installation is to establish the MRF as the first MRF in North America to be 95% divergent from the landfill. The byproduct of the permanent installation of this technology will result in a lower carbon footprint, scaled collection and processing for neighboring communities, a significant reduction to the MRF’s bottom-line costs due to lower tipping fees than the customary landfill expense, and production of valuable commodities to be sold both domestically and internationally. ASRE has laid groundwork with many state and municipal governmental entities, both in the U.S. and internationally, and is poised to become the standard waste remediation solution in the world.
Exclusive Sales, Marketing and Distribution Agreement in the Republic of India for the ASRE Waste-to-Energy Technology
On April 18th ASRE announced an initial equipment sale and the formation of a joint venture with Astra Regreen India ("ARI"), an Indian corporation. ARI will hold exclusive rights for sales, marketing and distribution and establish a first-of-its-kind Municipal Recovery Waste Facility ("MRF") in the Southern States of the Republic of India.
ASRE will receive a project deposit of $100,000 USD, an equipment deposit of $1,800,000 USD for the sale of the first 15 Ton Per Hour ("TPH") Regreen Total Waste System ("TWS"), and the balance first tier from operations. Upon successful implementation of the first installation, ARI is required to place orders for five more Regreen TWSs ranging between 3TPH to 15TPH capacity within 36 months. Additionally, Astra will hold a carried interest in the revenues of all future projects within the territory.
The ASRE "India Green Project" will consist of constructing a 30,000-square-foot facility at a designated landfill that will initially host a 15TPH Regreen TWS to process a minimum of 300 tons of municipal solid waste and agricultural waste per day. The landfill will provide a 25-year concession on land and feedstock (MSW and agricultural waste). Once processed through the Regreen TWS, the output will consist of low sulfur, bacteria and odor-free, high BTU and calorific-value energy pellets, as well as other valuable and marketable commodities to be sold in the global market. The first deployment will begin within six months.
Acquisition of Land for Zanzibar Clean and Renewable Energy Park
On March 20th ASRE announced that it has received a commitment letter from the revolutionary government of Zanzibar to supply approximately 200 acres of land by way of a 33-year renewable lease, for the ASRE proposed Zanzibar Clean and Renewable Energy Park Project.
The Project will generate 50MW of clean and renewable energy on Unguja Island, the largest island in the Zanzibar Archipelago and the seat of Zanzibar’s semi-autonomous government. It will be comprised of 42.5 megawatts of solar generation, coupled with the ASRE proprietary Regreen waste-to-energy technology, which will generate the remaining 7.5 megawatts while consuming and eliminating approximately 300 tons of municipal solid waste (MSW) daily.
The Project will also include a battery energy storage system (BESS), a much-needed source of grid stability and a peak power source for the island. ASRE intends to own and operate the Project as an independent power producer (IPP), selling the power to Zanzibar Electricity Corporation (ZECO), Zanzibar’s state-owned utility, via a long-term power purchase agreement. The Project will complement the Zanzibar Energy Sector Transformation Project (ZESTA), a $142M World Bank and Clean Technology Fund initiative whose objective is to “expand access to electricity service and to create an enabling environment for private-sector participation in the Zanzibar electricity sector.”
For more information on $ASRE visit: www.astraenergyinc.com
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