Date: January 14, 2008
Source: Alter Nrg Corp.
Alter Nrg Corp. announces sale of Plasma Gasification technology
Alter Nrg Corp. (Alter Nrg or the Company) is pleased to announce that it has completed a sale of Plasma Gasification technology, valued at approximately $2 million, through its wholly owned subsidiary Westinghouse Plasma Corporation (WPC: 33.00, +0.89, +2.77%).
Alter Nrg has received an order from Kiplasma Industries and Trade Inc. of Istanbul Turkey for the supply of four (4) Marc 3A plasma torch systems and the engineering design of the Plasma Gasification reactor. The equipment and design will be used to process 144 tons/day of common hazardous waste materials for the production of electricity. WPC is expecting to ship the plasma torch systems for this order in the second half of 2008 and the facility is expected to begin commercial operation in the fourth quarter of 2009.
This sale represents the fifth commercial scale Plasma Gasification facility using the WPC Plasma Gasification technology. Currently, two facilities have been operating in Japan using the WPC technology since 2002 and 2003 processing waste into power and steam. Two facilities are currently under construction in India that will process hazardous waste into power. This sale of technology, along with 7 publicly announced projects using the Alter Nrg/WPC technology and over 25 additional projects under development, illustrates the growing demand for plasma gasification technology.
ABOUT ALTER NRG
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 utilize our commercially proven plasma gasification technology to become a senior energy producer of hydrogen, syngas, and transportation fuels (diesel, naphtha, ethanol, etc.), steam and electricity, all of which are fundamental products for the world's growing energy needs.
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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, but without limiting the foregoing, this news release contains forward-looking information and statements pertaining to the following: currency exchange rate fluctuations; environmental risks; ability to finance; risk of obtaining regulatory approvals; engineering and design risk; fluctuation in commodity prices and other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release.
The Company 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 Company 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.
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