Genalta Power to Build 22 MW Power Generating Facility

CALGARY, Oct. 7, 2013 /CNW/ - Genalta Power Inc. ("Genalta Power") is announcing the finalization of a multi-year Power Purchase Agreement with Husky Energy.

The goal of the project is to produce 18 MW of base load electricity by maximizing benefits from an existing gas field. The project will reduce operating costs for Husky and includes an environmentally sustainable waste heat initiative designed to generate 2 MW of the 18 MW of base load electricity. An additional 4 MW is planned for peak load electricity generation for a project total of 22 MW, including both base and peak load electricity.

Located at Husky's Muskwa plant east of its Cadotte facilities, the project has been designed to the exact site conditions using a combination of technologies that will produce power to feed directly into the Alberta power grid, while also producing GHG offset credits through a reduction in emissions.

The waste heat initiative has been selected to receive a $4.9 million grant from the Climate Change Emissions Management Corporation (CCEMC) as it will lower the overall carbon foot print of power generation, deploy new technologies and be replicable among many declining gas fields throughout the Province of Alberta.

"We are very excited to build upon the existing Husky and Genalta Power relationship with another power generation project," said Graham Illingworth, Genalta Power's CEO. "In addition to making a positive impact on the environment, we will also have the opportunity to prove out new, patentable technologies with numerous industry applications."

The project is forecast to be commissioned in 2015.

About Genalta Power
Genalta Power is a privately held Canadian corporation in the business of developing, owning, and operating independent power plants that produce and sell environmentally friendly electricity from waste and clean energy sources. Genalta Power capitalizes on opportunities in the independent power market by actively pursuing the development of dependable, cost-effective, and environmentally responsible power generation facilities. Genalta Power pursues a mix of waste heat recovery, waste fuel gas, waste pressure, and gas to power projects. Genalta power is developing projects in strategic regions of North America. Visit www.genaltapower.com for more information.

Cautionary Statement Regarding Forward-Looking Information:
Certain statements in this news release may constitute "forward-looking information" or "forward-looking statements" which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this news release, such information uses such words as "estimates", "expects", "plans", "anticipates" and other similar terminology. This information reflects the company's current expectations regarding future events, including the development, construction and operation of greenhouse gas based projects and speaks only as of the date of this news release. Forward-looking information involves significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information. Although the forward-looking information in this news release is based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with this forward-looking information. This forward-looking information is provided as of the date of this news release, and, subject to applicable securities laws, the company assumes no obligation to update or revise such information to reflect new events or circumstances.

SOURCE: Genalta Power Inc.

For further information:

Genalta Power Inc.
Paul Miller
President
(403) 237-9740
pmiller@genaltapower.com

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Genalta Power Inc.

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