Mannvit Engineering joins CanGEA and is registered as „Qualified Person“ under the Canadian Geothermal Code for Public Reporting.

Mannvit Engineering recently joined the Canadian Geothermal Energy Association (“CanGEA“) and is registered as „Qualified Person“, under the Canadian Geothermal Code for Public Reporting (the “Code”).

On March 3rd, 2010, CanGEA released the Code and hosted a Geothermal Code Investment Seminar and Reception in Toronto on March 3rd, 2010. On this occasion CanGEA opened the markets at the Toronto Stock Exchange. At the seminar Mr. Arnar Hjartarson, Mannvit‘s Geothermal Reservoir Physicist and qualified person under the Code, presented Mannvit‘s experience on reporting geothermal resources and reserves assessments and classifications. Mannvit has prepared reports on geothermal resources and reserves for public and private geothermal developers and power companies, based on the Canadian and Australian Geothermal Reporting Codes. „The Code will provide a positive step forward towards increasing transparency in the reporting of geothermal assets as well as increase investor comfort in the space“, says Mr. Runólfur Maack, Mannvit CEO of overseas operations.

About the Canadian Geothermal Reporting Code:

The Canadian Geothermal Code for Public Reporting (the „Code“) provides a minimum set of requirements for the public reporting of Exploration Results, Geothermal Resources and Geothermal Reserves. The Code will provide a basis for transparency, consistency and confidence in the public reporting of geothermal information. The Code will serve to increase investor confidence and interest in the geothermal energy sector through the standardization of geothermal reporting.