OTCQX - ANRGF
CALGARY, June 25, 2012 /CNW/ - Alter NRG ("Alter NRG" or the "Company")
is pleased to announce it has sold five technology site licenses to PGP
Terminal a.s. ("PGPT"). Under the terms of the deal, PGPT has an
option to purchase three more site licenses within twelve months. All
eight licenses provide guaranteed access for PGPT to Alter NRG's plasma
gasification technology for projects that can be located anywhere in
the Czech Republic or Slovakia.
Under Alter NRG's standard licensing terms, PGPT has paid the first
partial payment for each license totaling $437,500. The remaining
amounts on each of the site licenses are paid to Alter as Alter
completes engineering, delivers plasma gasification equipment and
assists PGPT during the commissioning for each project, all under
additional separate contracts. The total value of the first 5 license
agreements is $4.375 million.
Walt Howard, Alter NRG's CEO, states "We are delighted to add PGPT, a
well qualified and funded investor and developer, as a customer. After
working with the PGPT team for over a year now, it is clear they know
the Czech and Slovak markets and they have the ability to quickly
Petr Brenek, Chairman of PGPT, stated "We have over ten plasma
gasification projects in our pipeline. After completing our due
diligence on the technologies available in the market place that can
help PGPT deliver on its business plan, and based on the Slovak and
Czech legislative concepts supporting the utilization of municipal
solid waste and other feedstock for energy production, we chose Alter
NRG and its Westinghouse Plasma gasification technology. Alter's
commercial reference plants and the depth of its technical and
operation expertise were key decision factors. Alter's recent sale of
a 1000 tonnes per day gasifier to a Fortune 500 company for a project
in the United Kingdom only served to support our decision to partner
with Alter NRG."
Mr. Howard also noted, "This deal with PGPT is further validation of
Alter's strategy to focus on specific global markets including certain
specific countries within Europe that have superior market fundamentals
and improved access to capital. We continue to advance negotiations of
licensing deals in a number of other markets around the world".
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 provide a wide variety
of energy outputs - including liquid fuels like ethanol and diesel,
electrical power, and syngas.
ABOUT PGP TERMINAL a.s.
PGPT is an investment and development company based in the Czech
Republic and focused on the preparation and development of projects in
the energy sector. PGPT intends, in collaboration with reputable
foreign companies, to develop projects aimed at combined electricity
and heat production in the Czech and Slovak Republics.
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:
Walter Howard, Chief Executive Office
(403) 806-3877 email@example.com
Daniel Hay, Chief Financial Officer
(403) 214-4235 firstname.lastname@example.org