Renewable Energy Policy
Astra Resources – Commercialisation of Renewable and Green Energy Opportunities
Astra Resources recognises that as more and more governments around the world commit to increasing the amount of energy generated by renewable sources, there will be a proportional increase in the number of opportunities for the economically viable commercialisation of renewable energy opportunities.
As such Astra is working to ensure renewable energy plays a growing part of the company’s business model. This was agreed upon at the last EGM where shareholders voted on a resolution:
That the shareholders approved the Company expanding its current business activities from that of the operation of steel, iron ore, coal, gold and mining house services to be increased with the additional activities of oil, gas, energy, environmental and health services and the provision of all raw materials used in the process and products of steel making.
Government and regulatory push for renewable and green energy
In response to the global financial crisis, a number of the world’s major governments have created “green stimulus” programs that act as policy instruments for supporting the economic recovery. Some $188 billion in green stimulus funding had been allocated to renewable energy and energy efficiency.1
Australia has recently confirmed its commitment to renewable energy through the proposed carbon tax and the $10 billion Clean Energy Finance Corporation, which will fund businesses seeking capital to get innovative clean energy proposals and technologies off the ground.
As an example of the opportunities at hand global revenues for solar photovoltaics, wind power, and biofuels expanded from $76 billion in 2007 to $115 billion in 2008 and are expected to reach $226.5 billion by 2016.2
New global investments in clean energy technologies—including venture capital, project finance, public markets, and research and development—expanded by 4.7 percent from $148 billion in 2007 to $155 billion in 2008. Promotional policies helped the industry weather the 2009 economic crisis better than many other sectors, and as such, continued growth for the renewable energy sector is expected.3
The continuing push by governments and consumer demands for renewable and green energy, coupled with an increase in public and private investment, demonstrates the area as a viable commercial opportunity for Astra to pursue.
Current green initiatives
With the emerging green opportunities and a shareholder mandate, Astra Resources has already made some headway into this area through its 45 percent stake in the CO2 reduction technology for the revolutionary steel product, T-Steel, which is significantly stronger than regular steel and provides vast production, operational and environmental benefits.
The basic product, which includes the use of unique alloy based formulas invented over a 30-year period in Hungary, is based on a process that can modify the metallurgical properties of steel at a molecular level. Astra has taken the opportunity with the devolution of the Eastern bloc countries to acquire the technology and roll it out globally.
An independent verification of the steel’s unique properties was delivered from one of the University of Miskolc’s leading metallurgical engineers, Professor Emeritus Dr. Farkas Otto.
Expert opinion from a study into the production of T-Steel confirms it has better qualities than traditional steels, while also indicating the CO2 emissions from its manufacture can be up to two times less than with traditional steel making technologies, thus reducing a manufacturing plant’s carbon footprint.
This technology will provide the cornerstone for Astra Resources’s investigation into the commercialisation of renewable energy opportunities.
Apart from the new opportunities provided through T-Steel and the reduction of CO2 emissions in steel production, Astra will also be investigating other areas of renewable energy to augment its existing projects. This will include, but is not limited to:
- CO2 capture
- Energy efficiency for industry
- Waste processing to useable products
- Organic farming methods
There are already a number of opportunities through the company’s existing projects in Africa, India, southeast Asia and Australia that can dovetail with renewable and green energy requirements.
Astra Resources’s business model of working with strategically located resource partners to service the robust demand from the world’s major urbanisation growth markets of China and India means renewable energies will increasingly play a part in the ongoing expansion of the company.
1 Renewables 2010 Global Status Report
3Clean Energy Trends 2009, Joel Makower, Ron Pernick and Clint Wilder (2009)