Alter Nrg Corp. announces strategic joint venture and option to invest in world's largest plasma gasification project

    TSX:V - NRG

    CALGARY, Aug. 2 /CNW/ - Alter Nrg Corp. is pleased to announce that a
newly formed wholly owned subsidiary (collectively Alter or the Company) has
entered into a strategic joint venture (JV) agreement with Atlanta-based
Jacoby Energy Development, Inc. (Jacoby Energy), parent company of Geoplasma,
LLC, to develop large scale and environmentally friendly waste to energy (WTE)
projects in Canada and the United States (US). This agreement is the
continuation of Alter's strategy to form strategic partnerships with companies
with existing market penetration and a proven track record in the Company's
target markets.
    Alter will own 49% of the JV and contribute its proprietary Westinghouse
Plasma Gasification Technology on an exclusive basis for WTE projects, using
household, industrial or commercial waste as feedstock to produce steam or
electricity. Jacoby Energy will own the remaining 51% and during the term of
the JV will contribute the first US$15 million of JV operating capital and its
expertise in developing WTE projects. The JV will market the Westinghouse
Plasma Gasification Technology and provide project development services to
third party WTE project developers. Alter will benefit from receiving 100% of
the plasma gasification technology product and service revenues at current
prices and the JV will split all other revenues and costs based on the JV
ownership percentages.
    As part of the JV agreement, Alter has the option to invest up to 25% in
Jacoby Energy's St. Lucie, Florida WTE project - to be operated via its
Geoplasma subsidiary, which is expected to initially convert 1,000 tons of
municipal solid waste per day into 40 MW of electricity using Alter's
proprietary Westinghouse Plasma Gasification Technology. The project plans to
scale up to 3,000 tons per day, which would result in 120 MW of electricity.
The St. Lucie project is planned to be the world's largest plasma gasification
facility. The project has received bond allocation from the State of Florida,
secured a waste feedstock agreement, and has support from the County of St.
Lucie. Construction is expected to commence in early to mid 2008 upon final
receipt of various development permits.
    In addition, Alter has the option to participate, up to 49%, in any WTE
project developed by the JV.
    The JV intends to advance new and existing opportunities in the US
market, as well as continue to aggressively pursue opportunities in Ontario
which remains a key target market.
    Jacoby Energy is obligated to contribute US$8 million in the first three
years, after which Jacoby Energy has the option to terminate the agreement. If
Jacoby Energy chooses not to terminate, it will fund the next US$7 million of
JV expenses, after which both companies will fund the JV based on their
respective ownership. The JV agreement includes an initial 6 month term to
formalize commercial product and service sales agreements where both parties
have an option to terminate if not satisfactorily completed. Jacoby Energy
will maintain its exclusive access to the Westinghouse Plasma Gasification
Technology for waste feedstock producing steam or electricity by meeting
predetermined levels of technology sales.
    Mark Montemurro, President and CEO of Alter notes, "This joint venture
agreement is another tangible example (like the NRG agreement released
April 28, 2007) of our use of strategic joint ventures to accelerate our
market penetration and mitigate risk. I am excited to be working with the
experienced business development team at Jacoby Energy who have a proven
record of success including moving forward the world's largest plasma
gasification project at St. Lucie. I believe this relationship will add
significant value to both companies."
    "At Jacoby Energy, we believe that we can be more efficient and offer
more as a company when we form strategic partnerships with companies like
Alter NRG," said Jim Jacoby, Chairman and CEO of The Jacoby Group, the parent
company of Jacoby Energy. "Since 2003 we have been working with Westinghouse
Plasma Corporation as our technology partner for plasma gasification projects,
and we are thrilled that we will continue to work with Alter in this


    Alter is pursuing alternative energy solutions to meet the growing demand
for environmentally responsible energy in world markets. The Company's vision
is to become a North American leader in the development of innovative
gasification projects for the commercial production of energy. The Company's
objective for the next decade is to become a senior energy producer of
hydrogen, syngas, and transportation fuels such as biodegradable sulphur-free
diesel, ethanol, steam and electricity, all of which are fundamental products
for the world's growing energy needs.


    Jacoby Energy Development, Inc. (Jacoby Energy) is an alternative and
renewable energy company focused on providing environmentally sustainable and
economically viable alternative energy solutions. Jacoby Energy is committed
to working with communities and municipalities, in public-private
partnerships, to implement the most appropriate and tailored technology that
fits the needs and challenges of the community. Headquartered in Atlanta,
Georgia, Jacoby Energy is a wholly-owned subsidiary of The Jacoby Group, a
consortium of companies focused on real estate, sustainability, renewable and
alternative energy, education and research, and media - all with an emphasis
on sustaining quality of life.


    Certain statements in this disclosure may constitute "forward-looking"
statements which involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of the
Company, or industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. When used in this disclosure, such statements use
such words as "may", "would", "could", "will", "intend", "expect", "believe",
"plan", "anticipate", "estimate", and other similar terminology. These
statements reflect the Company's current expectations regarding future events
and operating performance and speak only as of the date of this disclosure.
Forward-looking statements involve significant risks and uncertainties, should
not be read as guarantees of future performance or results, and will not
necessarily be accurate indications of whether or not such results will be
achieved. A number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements. Although the
forward-looking statements contained in this disclosure are based upon what
Management believes are reasonable assumptions, the Company cannot assure
investors that actual results will be consistent with these forward-looking
statements. These forward-looking statements are made as of the date of this
disclosure, and, subject to applicable securities laws, the Corporation
assumes no obligation to update or revise them to reflect new events or
circumstances. This disclosure may contain forward-looking statements
pertaining to the following: capital expenditure programs; supply and demand
for the Company's services and industry activity levels; commodity prices;
income tax considerations; treatments under governmental regulatory regimes
and other risk factors as disclosed in the Company's long-form prospectus
dated April 10, 2007 available on SEDAR at No assurance can be
given that any of the JV projects will be developed or advanced, nor can any
assurance be given that any such JV projects will be financially accretive to
the Company.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: Mark Montemurro, President and Chief Executive
Officer, (403) 806-3877,; Daniel Hay, Chief Financial
Officer, (403) 806-3881,; Investor Relations, (403) 806-3875,; Yona Benstock, Edelman for Jacoby Energy, (404) 460-1491,

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