Ann: Appendix 4C - quarterly, page-5

Previously posted dec 16 afr article

Next is a commercial trial which the company hopes will take place in the second half of next year and cost between $2 million and $3 million. That will require a capital raising. Rogers hopes to get some institutions on board and complete the issue by the end of March.

Protean aims to produce wave energy for less than the 50¢-$1 a kilowatt hour it can cost remote communities and islands to generate power from diesel and solar, and target ecotourism and agriculture.

"We are not targeting grid power. We are targeting niche markets and keeping the technology simple," he says.

VRF batteries generate electricity by passing vanadium solutions with different numbers of ions over a graphite electrode. Rogers says they have twice the life of established lithium ion batteries - 15-20 years - and won't leave toxic waste. The next step is to prove it can make them.

He says small and medium firms - warehouses, workshops and buildings - are a big untapped market for solar battery systems. He is looking for revenue from this in the March quarter.

There's a way to go but Rogers says Protean now has a strong team of engineers, a growth plan and some runs on the board. "It's really about shaping the business to match the emerging renewable energy industry."

Read more: http://www.copyright link/news/oil-and-gas...nd-solar-energy-20161221-gtfm9v#ixzz4VEuKIqri