ALTER NRG CORP. ANNOUNCES FILING OF BASE SHELF PROSPECTUS

TSX: 'NRG'
OTCQX: 'ANRGF'

CALGARY, June 29, 2011 /CNW/ - Alter NRG Corp. ("Alter NRG") announced today that it has filed a final short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada, other than Québec. Under the provisions detailed in the short form base shelf prospectus, Alter NRG may offer from time to time: (i) common shares, (ii) preferred shares, (iii) secured or unsecured obligations in the form of senior or subordinated debt securities, (iv) subscription receipts, (v) units or (vi) warrants to purchase common shares, debt securities or other securities (collectively, the "Securities") of up to $40,000,000 aggregate initial offering price of Securities during the 25-month period that the short form base shelf prospectus is valid. Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of the sale and set forth in one or more prospectus supplements and/or pricing supplements.

Copies of the base shelf prospectus may be obtained under Alter NRG's profile on SEDAR at www.sedar.com.

ABOUT ALTER NRG

Alter NRG is pursuing alternative energy solutions to meet the growing demand for environmentally responsible energy in world markets. Alter NRG's vision is to commercialize growth technologies through environmentally sustainable and economically viable alternative energy projects. Alter NRG'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.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell Alter NRG securities or the solicitation of an offer to buy Alter NRG securities, nor is there to be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Advisory Respecting Forward-Looking Information

This news release contains certain "forward-looking information" within the meaning of applicable securities laws. The use of the words "may" and "will" and similar expressions are intended to identify forward-looking information. In particular, but without limitation, this news release contains forward-looking information in respect of potential issuances of Securities and prospectus supplement and/or pricing supplement filings by Alter NRG.

Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking information contained in this news release. The forward-looking information included in this news release is not a guarantee of future performance and should not be unduly relied upon. Forward-looking information reflects management's current beliefs and assumptions, based on information currently available to management.

A number of factors, risks and uncertainties could cause actual results to differ materially from the results discussed in the forward-looking information, many of which are beyond the control of the Alter NRG. Among the material factors that could cause actual results to differ materially from those indicated by such forward-looking information are: not receiving the regulatory approvals, including the further approvals that may be sought from securities regulatory authorities or the Toronto Stock Exchange, in the timelines required or at all, that the prevailing market price of the Securities may make a prospectus offering in respect of such Securities unattractive to Alter NRG as well as those factors discussed in or referred to under the heading "Risk Factors" in Alter NRG's Annual Information Form for the year ended December 31, 2010 which is available under Alter NRG's profile on SEDAR at www.sedar.com.

Alter NRG cautions that the foregoing list of risks and uncertainties is not exhaustive. The forward-looking information contained in this news release speaks only as of the date of this news release, and Alter NRG 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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