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CALGARY, June 25, 2012 /CNW/ - Alter NRG ("Alter NRG" or the "Company") is pleased to announce it has sold five technology site licenses to PGP Terminal a.s. ("PGPT"). Under the terms of the deal, PGPT has an option to purchase three more site licenses within twelve months. All eight licenses provide guaranteed access for PGPT to Alter NRG's plasma gasification technology for projects that can be located anywhere in the Czech Republic or Slovakia.
Under Alter NRG's standard licensing terms, PGPT has paid the first partial payment for each license totaling $437,500. The remaining amounts on each of the site licenses are paid to Alter as Alter completes engineering, delivers plasma gasification equipment and assists PGPT during the commissioning for each project, all under additional separate contracts. The total value of the first 5 license agreements is $4.375 million.
Walt Howard, Alter NRG's CEO, states "We are delighted to add PGPT, a well qualified and funded investor and developer, as a customer. After working with the PGPT team for over a year now, it is clear they know the Czech and Slovak markets and they have the ability to quickly develop projects".
Petr Brenek, Chairman of PGPT, stated "We have over ten plasma gasification projects in our pipeline. After completing our due diligence on the technologies available in the market place that can help PGPT deliver on its business plan, and based on the Slovak and Czech legislative concepts supporting the utilization of municipal solid waste and other feedstock for energy production, we chose Alter NRG and its Westinghouse Plasma gasification technology. Alter's commercial reference plants and the depth of its technical and operation expertise were key decision factors. Alter's recent sale of a 1000 tonnes per day gasifier to a Fortune 500 company for a project in the United Kingdom only served to support our decision to partner with Alter NRG."
Mr. Howard also noted, "This deal with PGPT is further validation of Alter's strategy to focus on specific global markets including certain specific countries within Europe that have superior market fundamentals and improved access to capital. We continue to advance negotiations of licensing deals in a number of other markets around the world".
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.
ABOUT PGP TERMINAL a.s.
PGPT is an investment and development company based in the Czech Republic and focused on the preparation and development of projects in the energy sector. PGPT intends, in collaboration with reputable foreign companies, to develop projects aimed at combined electricity and heat production in the Czech and Slovak Republics.
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.
For further information:
Walter Howard, Chief Executive Office
(403) 806-3877 [email protected]
Daniel Hay, Chief Financial Officer
(403) 214-4235 [email protected]