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.
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; 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
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.
SOURCE Alter NRG Corp.
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