Australian Financial Review
Friday 26/10/2007 Page: 62
Sydney-based CBD Energy believes it has the solution to the problem of making sustainable energy sources more viable. CBD is preparing to build a $15 million energy storage demonstration project on King Island off Tasmania, with new technology that uses surplus electricity to heat blocks of granite, which then power a steam turbine to generate power when solar or wind energy is not flowing. The technology was developed by a subsidiary of German solar power company Solon AG, which bought 20 percent of CBD this year.
CBD executive chairman Gerry McGowan, previously known for founding budget airline Impulse Airlines and selling it to Qantas in 2000, said tests of the technology had gone better than expected. CBD plans to complete the first stage of the King Island project, in conjunction with state-owned electricity company Hydro Tasmania, by the end of 2008.
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