ALTER NRG CORP. ANNOUNCES $1.45 MILLION GEOEXCHANGE SALE

TSX - NRG
OTCQX - ANRGF

CALGARY, Jan. 24 /CNW/ - (TSX: NRG; OTCQX: ANRGF) Alter NRG Corp. ("Alter NRG" or the "Company") is pleased to announce that it's wholly owned subsidiary CleanEnergy has won a large-scale commercial geoexchange sale for approximately $1.45 million.  CleanEnergy provides geoexchange solutions to the Canadian marketplace which replace conventional heating and cooling systems and can reduce the use of fossil fuels by up to 80%.

Mark Montemurro, CEO of Alter NRG states that "Our business plan continues to progress and we are now routinely winning projects between $500,000 and $1.5 million.  CleanEnergy is quickly growing its reputation as the leading provider of commercial geoexchange solutions in the Canadian marketplace which continues to drive our growth."

CleanEnergy has signed a contract for approximately $1.45 million to install a geoexchange system into the Central Nova Scotia Civic Centre.  CleanEnergy was awarded this contract based upon its environmentally friendly and operating cost efficient solution for all aspects of the building including, making ice for the rink, heating the pool and heating and cooling the buildings. This facility will feature a NHL-sized ice surface with seating for 3,200 spectators. It will also be home to an indoor aquatic centre, an exercise track, a fitness centre, and space for events like concerts, tradeshows and community gatherings.  The geoexchange portion of the project is anticipated to begin construction in May of this year.

The Central Nova Scotia Civic Centre is another example of larger scale commercial projects which CleanEnergy has already provided geoexchange solutions such as an elementary school in B.C., a condominium complex, retail shopping buildings and a swimming pool in Ontario and most recently a hockey rink complex in New Brunswick.   CleanEnergy also has active bids and verbal approvals on other larger commercial jobs such as hospitals, hockey rinks, apartment buildings and others which will be released as the definitive contracts are signed.

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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