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global geothermal alliance

2nd November 2009. BRISBANE, AUSTRALIA.

Islandsbanki & Australian advisory firm Activated Logic form Geothermal Strategic Alliance
Reykjavik/Iceland & Brisbane/Australia, November 2, 2009

Iceland-based Investment Bank Islandsbanki and Australian corporate advisory firm, Activated Logic are pleased to announce the formation of a Global Geothermal Alliance (GGA), which will combine the work of both entities and strengthen the work of both organisations in the Asia-Pacific region.

Initially launched in September this year, the Alliance is engaged in improving the commercial attractiveness of numerous geothermal projects and is active in increasing institutional investor awareness of the Asia-Pacific geothermal sector.

Islandsbanki is an Iceland-based bank that focuses internationally on geothermal energy, providing tailored financial services and sees itself as a partner to the global geothermal energy sector. Activated Logic is an Australia-based corporate advisory firm with a focus on geothermal energy.

Global Geothermal Alliance

The Alliance partners have extensive experience and capability in the five core areas essential for effective geothermal energy development - Research, Strategy, Communications, Investment & Finance.
As part of the Alliance, Activated Logic will work in the Australian and Asia-Pacific market on behalf of geothermal companies such as developers, investors and technology providers. Islandsbanki will support Activated Logic in its activities in this important part of the world.

At the same time Islandsbanki will be able to build some of its work on the experience of Activated Logic in the core focus areas of the Bank, e.g. in the United States, Canada, South America and Europe.

Both players believe that their combined expertise and know-how provide an attractive value proposition and will strengthen the core capabilities available for potential clients world-wide.

“Having followed closely the activities of the Australian geothermal energy sector, the EGS and Hot Sedimentary projects in the country, as well as some of the international activities of Australian players, we believe in the opportunities in this market both for the industry and financial players like ours,” said Árni Magnusson, the Head of Islandsbanki’s Geothermal Energy Team.

“Our alliance with Activated Logic will help us in playing a part in the Australian geothermal energy market and extend our reach in the Asia-Pacific market.”

Activated Logic Managing Director, Bahay Ozcakmak said this about the alliance, “We are very pleased with the recent formation of the Global Geothermal Alliance. The complementary capabilities and geographic diversity of the alliance partners provide the Global Geothermal Alliance with significant strengths and a broader range of opportunities, particularly in emerging markets.”

The Alliance is being announced at the second Australian Geothermal Energy Conference and Tradeshow, which takes place November 10-13, 2009 in Brisbane, Australia. The Global Geothermal Alliance is the official sponsor of the AGEC conference dinner.

As part of the conference, Activated Logic and Islandsbanki are hosting a Geothermal Financing Breakfast on Friday, 13 November 2009, at the Hilton Hotel Brisbane (Details below). At the workshop, Bahay Ozcakmak, Managing Director of Activated Logic and Alexander Richter, Director in Islandsbanki’s Geothermal Energy Team will introduce the Global Geothermal Alliance and provide an overview on financing tools for the Australian Geothermal Sector, as well as provide some international financial insight from recent geothermal development world-wide.

Financial Workshop “Financing Geothermal Projects – International Insights and the Australian Experience”, 13 November 2009, The Hilton Hotel Brisbane.

The workshop takes place from 7.50-8:50 am at the Private Dining Room on Level 6, 190 Elizabeth Street, Brisbane. The cost is Au$45 for AGEA & AGEG members and Au$55 for non-members.

To register for the workshop, please contact us +61 (0) 7 5561 7282.

For media relations, please contact:
Már Másson, Managing Director, Corporate Communication,
Mobile +354 844 4990 (Iceland), e-mail: mar.masson@islandsbanki.is

Islandsbanki – Geothermal Energy Team
Islandsbanki (formerly Glitnir) is an Iceland-based bank providing universal banking services for households, corporate clients and professional investors domestically. Internationally the bank focuses on two niche markets, Seafood and Geothermal Energy. With a dedicated geothermal energy industry team, the Bank provides tailored financial services for investors and industry players, building on a strong industry background and heritage of the Icelandic geothermal energy sector. In the past the Bank has been involved in the key deals of the industry in the United States in recent years and has worked internationally in China and Europe. For more details on our energy activities see www.islandsbanki.is/energy  

Activated Logic
Activated Logic is the leading provider of strategic and innovative geothermal project development and commercialisation solutions in the Asia Pacific region. The company‘s extensive experience and interests in the geothermal industry, ranging from industry technical research through to their commercial partnerships, make Activated Logic the ideal partner to take a geothermal project from any stage of development through to sustainable commercial success. Activated Logic encourages you to explore their extensive geothermal service offering, value-creation strategies and publications, including the Australian Geothermal Index™. For more details on Activated Logic’s geothermal energy activities see: www.activatedlogic.com/geothermal


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