The Queen5 Feb 2014 09:38
My mate who knows the queen said " the Queen was recommended to use wood pellets to cut her fuel bills"
Nova (AIM: NOVA), the investment company focused on high growth opportunities in the energy, infrastructure, technology, natural resources and manufacturing sectors, primarily in Russia and Asia, recently announced that Enerstry Co., Limited (‘Enerstry Korea’), has been granted exclusive distribution rights (the ‘Distributorship’) of SM Boilers, which use wood pellets or wood chips as a fuel source, worldwide (except for South Korea), by Ssangma Machine Co., Ltd (‘Ssangma Machine’). SM Boilers can be used in the types of renewable energy plant Enerstry Korea has built for Yonsei Milk, and will build for Hansung Industries, in South Korea.
Ssangma Machine, established in South Korea in 1994, is a manufacturer of machinery, including boilers. Boilers are critical to the performance of energy plants that use wood chips or WOOD PELLETS as a fuel source.
Commenting, Fook Meng Chan, Chairman and CEO of Nova, said:
“This agreement ensures that Enerstry Korea has access to reliable, cost effective boilers on a global basis. While Enerstry Korea’s business is South Korea focused at present, there is the potential to expand internationally in the future. Should international expansion occur, this deal ensures Enerstry Korea has a guaranteed, reliable supply of boilers.”
Enerstry Korea is 93.33 per cent owned by Enerstry Group, in which Nova has a 23.72 per cent shareholding. Its strategy is to build, own and operate renewable energy plants, and enter into long term offtake agreements with established, reputable companies in order to create stable, long term income streams for the benefit of its shareholders. At the end of the initial terms of the offtake agreements, if they are not extended, the relevant plants will be transferred to the counterparty company that Enerstry Korea entered into the offtake agreement with.