Why Dominovas Energy Corp (OTCMKTS:DNRG) Shares Jumped 76%


Dominovas Energy Corp (OTCMKTS:DNRG) shares were up 76.47% on Tuesday to $0.00450 and down 4.93% in after-hours trading. The company has a market cap of $1.18 million at 237.30 million shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.14.

Dominovas Energy Corp is  an exploration-stage company that seeks opportunities in the green and renewable energy industry. It acquired 100% of Dominovas Energy LLC, which has completed the development of an electric power generating Fuel Cell System, and employs its proprietary Rubicon Solid Oxide Fuel Cell (SOFC) technology for deployment in multi-megawatt power generation units worldwide.

In a press release this week, Dominovas Energy Corp announced that it is finalizing plans to deliver its long-awaited Rubicon to the University of Johannesburg in South Africa. Earlier this year, the company already mentioned that it would deliver this showcase to the campus, on top of discussing the next steps in the plans for the development of the Institute for Hydrogen Fuel Cell Technology. This would be a collaborative venture between Dominovas Energy and the University of Johannesburg for the advancement of the study of fuel cell technology in the region.

Achieving clean power has always been a dream for humankind. SOFC provides the clean power that not only satisfies the need of society, but also does so with minimal environmental impact,” remarked University of Johannesburg Department of Mechanical Engineering Science Professor Tien Chien Jen. “With the establishment of the Institute for Hydrogen Fuel Cell Technology at UJ on the horizon, this state-of-the-art SOFC system provides a welcome boost to the development of a new research frontier — for the vision of a future clean power supply for South Africa and the whole of Africa.”

As part of this process, Dominovas Energy Corp Chairman and CEO Neal Allen met with professors in the UJ campus late last week to determine the actual site and deployment strategy of Rubicon.

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