TSX - NRG
OTCQX - ANRGF
CALGARY, Jan. 7, 2013 /CNW/ - (TSX: NRG; OTCQX: ANRGF) Alter NRG Corp. ("Alter NRG" or the "Company") announces that it has signed a contract to deliver 4 of its Marc 3 Westinghouse Plasma torch systems for approximately USD$1 million. A 40% deposit has been received and the torches are expected to begin assembly immediately with final delivery in the first quarter of 2013. The initial order is part of a larger master agreement valued at approximately USD$12 million with additional orders expected in 2013.
Beijing Huanyu Guanchuan Plasma Technology Ltd. (GuanChuan) is using the torches for their industrial furnace applications related to the steel and iron industry in China. The application is focused on the retrofit of ferrous alloy furnaces to utilize plasma power as opposed to the conventional fossil fuels and electrodes currently used for heating. Through the use of plasma, the new furnace system will both improve economic efficiencies and environmental emissions of the steel manufacturing facilities in China.
According to Mr. Huang Geng, Chief Technology Officer of Guanchuan, "WPC is a proven leader in its field in plasma gasification and the plasma torch system. Their systems have been proven commercially and represent significant market potential for the industrial furnace retrofits in China. China is the world's largest steel producer and this application of Westinghouse Plasma torches will be used to reduce the overall emissions profile and operating costs in the steel facilities."
Walt Howard, 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 have been working with this specific customer over the past 3 years and believe that this order is the first of multiple orders penetrating this large segment."
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.
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 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.
SOURCE: Alter NRG Corp.
For further information:
Walter Howard, Chief Executive Officer
Daniel Hay, Chief Financial Officer