Alter Energy Group AG
Alter Energy Group AG: Alter Energy Group signs Letter of Intent for new project and proposed U.S. Listing
Alter Energy Group AG / Letter of Intent 30.03.2010 13:40 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- 'Alter Energy Group signs Letter of Intent for new project and proposed U.S. Listing' Zurich Switzerland - March 30, 2010 ALTER ENERGY GROUP AG ('AEG') (Frankfurt Stock Exchange Ticker Symbol: 39f) announced that on February 18 2010 the company signed a formal Letter of Intent with New York based investment banking firm Jesup & Lamont Securities Corporation, a FINRA member firm, and Epoch Environmental, LLC, a U.S. based environmental energy development and finance company for a proposed Joint Venture and U.S. Exchange listing. Under the terms and conditions of the Letter of Intent (LOI), Jesup & Lamont (Jesup) and Epoch Environmental (Epoch) will, together with AEG, form a Joint Venture for the development and finance of a multi-stage business unit focusing on the development and finance of an Oilseed extraction and Biomass combined heat and power (Oilseed CHP) facility in Europe utilizing Epochs proprietary esterification technology and rapeseed feedstock from Ukraine. In addition, AEG received exclusive European rights to the Epoch technology for a period of three years and will provide its Smela biomass CHP pilot project as collateral for a $1,500,000 USD Bridge Loan to be provided by Jesup and Epoch. The Joint Venture (JV) will be listed on a U.S. Exchange with a new share distribution to existing AEG shareholders and earnings per share for the AEG ownership reflecting in its current Swiss corporation and Frankfurt Stock Exchange listing. Edward J. Klaeger IV, CEO of AEG explained, 'The signing of the Letter of Intent represents significant progress in our efforts to secure funding for new project development and market liquidity for our investors and shareholders. The project will establish AEG in the highly lucrative, high growth European biodiesel market while benefiting its core renewable power production under Ukraine Green Tariff. Though we can use standard rapeseed oil refining technology for the proposed Oilseed CHP facility, the Epoch technology provides AEG a competitive advantage that is well established with 17 facilities currently in operation in the U.S. and Central America and several more in development. Jesup & Lamont brings a track record of success with a strong established presence in capital markets to help ensure a successful entry into the U.S. financial markets. We plan to enhance our Frankfurt listing in parallel with execution of our model and the audits and filings for the proposed Joint Venture U.S. listing.' Owais Khanani, Managing Partner of Epoch Environmental said, 'We look forward to working with AEG in entering the European bio-diesel market and with Jesup for our Investment Banking and U.S. Listing to build strong value for our investors and shareholders. Ukraine provides a good entry point into the European biodiesel feedstock market due to the abundance of rapeseed, low cost operations, ease of transport to EU markets, and favorable legislation. Ukraine provides added value as an inexpensive region for sourcing premium feedstock (rapeseed) for our proprietary technology to be applied in Oilseed CHP facilities. We plan to file our International patents within the next 6 months to further strengthen our European position and competitive advantage with AEG.' Daniel Nicholas, Managing Director, of Jesup & Lamont said, 'We are very excited about working with Epoch and AEG to penetrate the European bio-diesel market using premium feedstock available in Ukraine where AEG has a well established presence. There is a tremendous amount of work to be done on the ground in the U.S., Ukraine and Europe. Unless there are unforeseen delays we anticipate a successful U.S. listing for the Joint Venture and an enhanced Frankfurt listing for AEG sometime in the mid to late 3rd quarter.' About AEG: AEG is a Zurich-based publicly traded Swiss company with current project operations in Ukraine. AEG develops, acquires, and invests in alternative and renewable energy projects and companies. About Epoch: Epoch Environmental, LLC, based in Orlando, Florida is an affiliated entity of Epoch Capital Group, LLC an Orlando-based Private Equity Firm. Epoch Environmental and its affiliates have proprietary technology which is utilized in developments of alternative and renewable energy plants. The Epoch Companies provide capital and strategic support for growth companies. With a global approach, sector specific expertise, and a deep understanding of growth drivers, the Epoch Companies partner with great management to build exceptional businesses. About Jesup & Lamont: Founded in 1877 Jesup & Lamont is a New York based FINRA member full service Investment Banking and Corporate Finance firm with an in-house team of more than 300 retail brokers, 11 analysts and a comprehensive marketing program as well as a strong finance and retail market support syndicate. For more information on AEG please visit: www.alterenergygroup.com For more information on Epoch please visit: www.epcohenvironmental.com For more information on Jesup & Lamont please visit: www.jesuplamont.com Contact Investor Relations: info@alterenergygroup.com Forward-Looking Statements Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the Company's current and future capital needs, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, and other risks. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release. 30.03.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. 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