Geodynamics Limited has a 3% shareholding in the unlisted Icelandic based public company - Geysir Green Energy ehf (GGE).

This investment arose from Geodynamics agreeing to a swap of its former 25% shareholding in Exorka International Limited (Exorka) to a 3% shareholding in Exorka's much larger parent company Geysir Green Energy ehf (GGE) on 12 June 2008.

Exorka International Limited (EI), is a geothermal energy company based in Europe that holds a global sub-licence for the Kalina power cycle technology. The Kalina power cycle is an efficient technology for converting mid to low temperature heat sources into electricity.

To discuss potential applications of Kalina generation technology, contact EI at info@exorka.com, phone +49 89 5908 2347 or visit www.exorka.com.

To learn more about Geysir Green Energy, click on the link below

About GGE (www.gge.is)

Geysir Green Energy (GGE) seeks leading market opportunities in the harnessing of geothermal energy, invests in the development and construction of geothermal plants, acquires geothermal plants currently owned by power utilities and participates in the privatization of energy companies all over the world. Geysir Green Energy harmonizes the interests of investors, economical energy supply and an environmental prudence benefitting the future of Earth.  Geysir Green Energy was founded early in 2007 by several Icelandic investors:

• FL Group; an investment company with a specific interest in the sector;
• Glitnir Bank; a global bank operating within the renewable energy niche;
• VGK Hannun; a leading engineering consulting firm in Iceland with extensive geothermal expertise.

Since its founding, GGE has bought shares in the following:

• Hitaveita Sudurnesja, a leading geothermal operator;
• Western GeoPower, a Canadian geothermal company;
• Exorka International, a specialist developer of low-temperature geothermal electricity generation;
• Enex, an Icelandic geothermal developer;
• Enex China, a joint venture of several parties, including a Chinese corporation, that develops geothermal projects in China;
• PNOC-EDC, the world's largest geothermal operator, stationed in the Philippines;
• Keilir Atlantic Center of Excellence, a new university in Iceland.

GGE has also acquired Jardboranir (Iceland Drilling Co.), a leading geothermal drilling company, highly specialized in high temperature drilling.

Strategy

GGE invests in renewable energy with a specific focus on geothermal energy, by utilizing the relationship and expertise of Icelanders within the sector.  Even though the company's focal area is geothermal, other renewables are not ruled out of GGE's future plans for growth.  GGE's goal is to become a global leader in the field of geothermal energy.

Background

Iceland offers impressive statistics when it comes to renewable energy. Since 1970, Iceland's total energy supply stemming from renewable sources has risen to 72%. No other nation in the world can boast of a larger share of clean energy in its energy supply. Furthermore, around 90% of Iceland's substantial district heating needs are met with geothermal energy, and companies such as Hitaveita Sudurnesja, Enex and Iceland Drilling have played a major role this development through their expertise in harnessing Iceland's geothermal resources.

GGE is a relative newcomer in the energy sector. However, through its ownership in the aforementioned companies and others related, GGE has gained access to considerable know-how in the field of geothermal energy that has been accumulated over the past 35 years.

Ownership

Because successful utilization of renewable energy resource is capital intensive and requires cross-disciplinary expertise, the two greatest barriers to increased use of geothermal recourses are a lack of sufficient know-how and a lack of access to finance. GGE has access to both, in the form of its shareholders who have extensive experience in the geothermal sector and have expressed their commitment to provide firm financial backing.  GGE's largest shareholders are publicly listed companies on the Nordic Exchange [OMX].