Ausra Statement Clarifying Business Plans
Palo Alto, CA—January 30, 2009—Ausra CEO Bob Fishman today released the following statement to provide clarification regarding recent news coverage of the company's business strategy:
“Ausra has complete confidence in the viability and vast potential of the large-scale solar thermal industry and is committed to its plans to continue being a leader in providing cost-effective, proven technology and equipment for large-scale power projects as well as industrial steam projects.
"Ausra is strategically positioning itself to achieve its goals and serve its customers by focusing on being a technology and equipment supplier rather than an independent power developer and owner. Ausra has developed this strategy in partnership with its prospective customers to enable it to complement rather than compete with its power customer base. This strategy allows Ausra to diversify and respond quickly and flexibly to new market opportunities. As a result, the company will offer utilities and industrial companies the opportunity to own projects with Ausra-manufactured equipment.
"In addition, Ausra is expanding its product offering to include building medium-sized (50 MW equivalent) solar steam generating systems. Customers include steam users, such as food processors and enhanced oil recovery firms, and utilities for power augmentation (booster) systems that deliver steam into existing fossil-fueled power plants, increasing their power output and reducing carbon emissions.
"Ausra can quickly ramp up and install these low-cost projects as early as 2009 or 2010, while large power projects can take three to four years. For Ausra, this will allow the company to deploy its technology and generate revenue immediately, while the larger projects are obtaining permits and getting transmission access.
"As a result of this evolution in its business strategy, Ausra has realigned the functions in the company. This has resulted in some personnel leaving the company, internal reassignments, and the hiring of new individuals with the talent Ausra needs to implement the new path forward.
"While Ausra's direct steam for industrial customers is creating major near-term opportunities, building large projects, like the 177-megawatt project for PG&E in California, remains a long-term focus in the U.S., Australia, and the Middle East.
"Ausra is expanding and evolving its business model because the company intends to thrive not just survive in the current economic environment and beyond."
About Ausra, Inc.
Ausra delivers energy from the sun. The company provides solar power, steam and energy systems for industrial processes and utility-scale electricity generation. The company is a leader in solar thermal energy design, development and manufacturing, and is committed to serving the global energy needs of its customers in a dependable, market-competitive and environmentally responsible manner. Headquartered in Palo Alto, Calif., Ausra is a privately held company with operations in the United States and Australia. To learn more about Ausra and solar thermal energy, visit www.ausra.com.
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