SAN DIEGO, Dec. 09, 2021 (GLOBE NEWSWIRE) — via InvestorWire — Astra Energy Inc. (OTC Pink Sheets: ASRE) (“Astra” or the “Company”), a renewable and waste-to-energy project developer and technology acquisition company, announces initiation of joint ventures to develop and deploy energy transformation opportunities to meet Africa’s rising demands for modern renewable energy sources.
Astra Energy is taking giant steps to achieve its vision of developing clean energy projects that empower communities, protect the environment and shape a sustainable energy landscape for future generations.
In November 2021, Astra Energy Inc. established itself in Africa through the creation of a wholly owned subsidiary called Astra Energy Africa. The Company successfully completed the legal registration process, enabling it to conduct business beginning in the country of Uganda.
Additionally, Astra acquired both trading and investment licenses registered with the government of Uganda’s public procurement authority. A similar process is being completed in Tanzania and neighboring Zanzibar.
As a market penetration strategy, Astra has signed multiple memorandums of understanding in joint ventures with both M&E Associates, one of Uganda’s biggest and most experienced local engineering consulting firms, and Muttico Technical Services Ltd., a large, local high voltage powerline and substation construction and maintenance contractor. The two companies will benefit from both Astra’s ability to raise affordable project financing and its team of highly experienced technical personnel that has been gathered to propel the projects forward successfully.
The growing population and economic progress in Africa mean energy demands have soared, and a viable path to prosperity includes safeguarding Africa’s abundant renewable resources and introducing modern renewable energy sources to reduce the use of traditional biomass and provide access to reliable electricity. Astra’s involvement in Africa will play a transformative role in the transition to a sustainable energy future to accelerate the development of renewable energy goals set by the International Renewable Energy Agency (“IRENA”) for 2030.
About Astra Energy Inc.
Astra Energy Inc. is an emerging company in project development and renewable energy technology. The Company invests in and develops renewable and clean energy projects in markets where demand is high, supply is limited and there is opportunity to address other imminent market needs, while cultivating a portfolio of intellectual property and global licenses for innovative renewable energy technology and generating projects to deploy that technology.
Astra’s corporate strategy is rooted in securing technologies and assets; identifying viable market opportunities; and bringing together resources, expertise, technology and defined action plans to execute first-in-class projects that benefit communities, local economies, the planet and the Company’s investors.
For further information about Astra Energy, please visit the Company’s website at: www.astraenergyinc.com
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