ALTER NRG CORP. ANNOUNCES $450,000 GEOEXCHANGE CONTRACT FOR AFFORDABLE HOUSING COMPLEX

TSX - NRG                                                                                                           
OTCQX - ANRGF

CALGARY, May 11 /CNW/ - (TSX: NRG) (OTCQX: ANRGF) Alter NRG Corp. ("Alter NRG" or the "Company") is pleased to announce it has secured a $450,000 purchase order for a geoexchange heating and cooling solution through its wholly owned subsidiary CleanEnergy.  The project is a 72 unit senior's affordable living complex in London, Ontario.  The project is expected to start construction, including installation of the geoexchange system, during the second quarter of 2011.

Mark Montemurro, CEO of Alter NRG believes that, "geoexchange is an important part of providing cleaner energy solutions and reducing our usage of fossil fuels.  In this case reducing fossil fuel usage has the added benefit of reducing the monthly costs for residents. Alter NRG is pleased to be part of this affordable green living project."

Richard Fish, President of Alter NRG states that "this project adds to our backlog of projects which includes a large Civic Centre in Nova Scotia and a hospital complex in Ontario. Each project represents a $1.5 million geoexchange system sale for CleanEnergy.  Our business plan to focus on larger commercial and government infrastructure continues to be very successful."

This affordable living project has also been awarded conditional approval for government funding under the Renewable Energy Initiative from the Ministry of Municipal Affairs and Housing for the geoexchange installation.

ABOUT ALTER NRG

Alter NRG is pursuing alternative energy solutions to meet the growing demand for environmentally responsible energy in world markets. The Company's vision is to commercialize growth technologies through environmentally sustainable and economically viable alternative energy projects. The Company's objectives are twofold; First, is to further commercialize the Westinghouse Plasma Gasification Technology, a wholly owned subsidiary, to provide renewable and clean energy solutions from a wide variety of feedstocks, and providing a wide variety of energy outputs - including  liquid fuels like ethanol and diesel, electrical power, and syngas;  Second, to capitalize on the rapidly growing geoexchange residential and commercial heating and cooling market through a wholly owned subsidiary CleanEnergy that enables consumers to reduce their carbon footprint and reduce the cost and volatility of energy bills using the energy from the earth.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Advisory Respecting Forward-Looking Statements:
This news release contains certain "forward-looking information and statements" within the meaning of applicable securities laws.  The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "confident", "might" and similar expressions are intended to identify forward-looking information or statements.  In particular, this new release contains forward looking statements pertaining to capital expenditures, schedules and commencement of operations of existing projects and projects under development; availability of project financing; timing of sales; industry trends; factors influencing capital investments and development activities; the Corporation's reputation and market position within the industries in which it operates and the Corporation's strategy and competitive advantages.  Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release.

The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Forward-looking statements reflect management's current beliefs and assumptions, based on information currently available to management. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, many of which are beyond the control of the Corporation. Among the material factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: that the information is of a preliminary nature and may be subject to further adjustment; unforeseen environmental effects; failure of the proposed project to proceed to completion, ability to market projects effectively, arrangements with key suppliers; potential product liability and other claims; risks associated with the proprietary technology; closing on grants and incentives, the possible unavailability of financing at competitive rates and the related effect on development activities; changes in government regulation, including changes to environmental regulations; the effects of competition; the dependence on senior management and key personnel, and fluctuations in currency exchange rates and interest rates, as well as those factors discussed in or referred to under the heading "Risk Factors" in the Company's Annual Information Form dated March 29, 2010 available at www.sedar.com. Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements.

The Corporation cautions that the foregoing list of assumptions, risks and uncertainties is not exhaustive. The forward-looking information and statements contained in this news release speak only as of the date of this news release, and the Corporation assumes no obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable securities laws.

SOURCE Alter NRG Corp.

For further information:

Mark Montemurro, Chief Executive Officer
(403) 806-3877           mmontemurro@alternrg.ca

Daniel Hay, Chief Financial Officer
(403) 214-4235           dhay@alternrg.ca

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Alter NRG Corp.

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