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CALGARY, June 24, 2014 /CNW/ - Alter NRG Corp. ("Alter NRG" or the "Company") successfully completed an open house for investors, customers, engineering companies, government officials and other stakeholder on June 18th and 19th in Tees Valley England. The event attracted over 100 people from 15 different countries. The event included presentations from 5 of Alter NRG's key customers, as well as a site tour of the Tees Valley Renewable Energy Center.
Walter Howard, CEO of Alter NRG commented, "I would like to thank all of the participants in the open house. The interaction between investors, developers, engineers and industry experts was extensive and beneficial for all parties. Special thanks to Air Products for presenting and hosting a site tour to the Tees Valley Renewable Energy Facility using our technology."
Lisa Jordan from Air Products presented their business plan using the Westinghouse Plasma Technology owned by Alter NRG. Air Products is constructing its Tees Valley Renewable Energy Facility, the first of its kind in the United Kingdom (UK) and the largest of its kind in the world. Once operational, the facility will generate 49MW of electricity from non-recyclable waste and produce enough reliable, controllable and renewable electricity to power up to 50,000 homes. They expect the first plant to be in start-up phase in late 2014 and go into commercial operation in 2015. Air Products is simultaneously constructing a second 49MW energy-from-waste (EfW) Renewable Energy Facility at Teesside. It will be located on industrial land, known as the Reclamation Pond site, adjacent to the first plant.
Claire Cowen, the CEO of Cahill Energy, presented her proposed project in Barbados. Cahill Energy signed an agreement with the Government of Barbados on 15th March 2014 to build and operate a leading edge clean energy plant on the Caribbean island. Established to finance, build, own and operate utility-scale Waste to Energy plants in key markets, Cahill Energy plans to utilize the Westinghouse Plasma Technology to transform all kinds of waste on Barbados into clean, renewable energy. Cahill Energy expects to invest up to $260 million (USD) in the proposed plant which is set to be built in Vaucluse, St Thomas and providing the Government of Barbados with several hundred million dollars in estimated savings over the lifetime of the 30 year contract.
Naicheng Zhou – General Manager and Dean Mao – Deputy General Manager of GTS Energy Technology (Shanghai) Ltd. ("GTS Energy") presented information on their 30 tonne per day hazardous waste facility in Shanghai, China which began commissioning in January of 2013 and reported the facility is operating at design capacity. Under a joint development and marketing agreement (announced March 5, 2014) GTS Energy and Alter NRG are jointly launching a small scale, turn-key hazardous waste destruction solution which is taking hazardous incinerator fly-ash, as well as hazardous and medical wastes, and converting it into useful energy that increases the electrical output of the existing incinerators or industrial facilities. Alter NRG intends to jointly market turn-key incinerator fly-ash and hazardous waste destruction facilities worldwide.
Jeffery Hu, Principal at Bijie City Green Environmental Energy Limited ("BGE") presented an update on their project in China using the Westinghouse Plasma Gasification Solution. The project is expected to be a 600 tonne per day facility that will produce 15 MW of electricity using municipal solid waste from the City of Bijie, China. This project has been officially designated as a key project by the Provincial Government of Guizhou due to the anticipated environmental benefits. The project is finalizing its engineering, and has started construction on the site.
Matthew Cook, Global Technology Leader at Foster Wheeler presented their experience related to the engineering, procurement and construction of the Tees Valley advanced gasification renewable energy facility. During the presentation Mr. Cook provided an overview of the facility, as well as providing an update on other projects in which Foster Wheeler is involved using the Westinghouse Plasma Technology.
Alter NRG thanks all presenters for taking the time to discuss their business plans using the Westinghouse Plasma Technology.
ABOUT ALTER NRG
Alter NRG provides alternative energy solutions to meet the growing demand for environmentally responsible and economically viable energy in world markets. Alter NRG's primary objective is to further commercialize the Westinghouse Plasma Gasification Technology, through its wholly owned subsidiary, to provide renewable and clean energy solutions from a wide variety of feedstocks, and to provide a wide variety of energy outputs – including liquid fuels like ethanol and diesel, electrical power, and syngas.
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 potential projects moving forward, their ability to get approvals and intended follow-on projects, the intention to jointly market turn-key incineration fly-ash and hazardous waste facilities worldwide; the expected investment by Cahill Energy; and the expected size and output from facilities. Various assumptions were used in 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 Company. Among the material factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: the projects do not get required approvals, that projects do not get financing, that there may be competition in those markets, as well as those factors discussed in or referred to under the heading "Risk Factors" in the Company's Annual Information Form dated March 27, 2014 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 Company 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 Company 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: Walter Howard, Chief Executive Officer, (403) 806-3877, firstname.lastname@example.org; Daniel Hay, Chief Financial Officer, (403) 214-4235, email@example.com