ALTER NRG CORP. ANNOUNCES $1.9 MILLION SALE OF PLASMA TORCHES
TSX - NRG
OTCQX - ANRGF
CALGARY, April 28 /CNW/ - (TSX: NRG) (OTCQX: ANRGF) Alter NRG Corp. ("Alter NRG" or the "Company") announces that it has signed a contract to deliver three of its Marc 11 Westinghouse Plasma torch systems for approximately USD$1.9 million. The torches are expected to begin assembly in the second quarter with final delivery in the fourth quarter of 2011. The same customer ordered three torches in 2010, and is now ordering additional torches for their industrial application.
Westinghouse Plasma Corporation ("Westinghouse Plasma"), a wholly owned subsidiary of Alter NRG, has sold plasma torch systems for more than 20 years as a clean and efficient source of intense heat. With rising metallurgical coal and oil prices as well as more stringent carbon policies, companies are looking for ways to reduce costs and reduce their carbon footprint with alternatives like the plasma torches. Westinghouse Plasma torches produce intense heat that can be greater than 5000 degrees Celsius and have very low carbon emissions. Westinghouse Plasma has sold torches since the 1980's for metals recycling, testing programs, mining and smelting, waste destruction and other industrial applications.
Mark Montemurro, CEO of Alter NRG believes that "the plasma torch market is a promising opportunity for our Company as customers look to reduce their cost structure and carbon footprint. The plasma torch sales have a much shorter sales cycle without the regulatory hurdles of a full energy facility, as well as being a mature product offering with significant commercial history. We are currently in discussions with several large metallurgical recyclers, steel producers and other industrial companies regarding plasma torch systems effectiveness for their industrial application."
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, through 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.
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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; timing of sales; industry trends;; 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; arrangements with key suppliers; the inability of the Corporation to complete any transactions of the type contemplated by this news release; 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, 2011 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.For further information:
Mark Montemurro, Chief Executive Officer
(403) 806-3877 firstname.lastname@example.org
Daniel Hay, Chief Financial Officer
(403) 214-4235 email@example.com