Under the terms of the companies' heads of agreement, Apollo will have exclusive rights to EnviroMission's design – which uses solar radiation to heat a large mass of air in a tower structure to drive turbines for electricity generation – in exchange for a $2m development payment and a yearly royalty and technology fee.
“Apollo is planning to develop multiple Solar Tower power stations to benefit from the economy of scale of an integrated construction timetable, and has planned initial siting studies for the high solar radiation regions of El Paso, Laredo and the Permian Basin,” says EnviroMission chief executive Roger Davey.
Apollo
