Alter Energy Group AG
Alter Energy Group Signs $3,100,000 Term Sheet for Ukraine renewable energy projects
Alter Energy Group AG / Key word(s): Agreement ‘Alter Energy Group Signs $3,100,000 Term Sheet for Ukraine renewable energy projects’ Zurich Switzerland – September 09, 2010 ALTER ENERGY GROUP AG (‘AEG’) (Frankfurt Stock Exchange Ticker Symbol: 39f) announces the signing of the Term Sheet for up to $3,100,000 USD in initial funding with its Joint Venture partner Epoch Capital Group (Epoch) for investment in Ukraine renewable energy projects targeting expansion of Smelaenergopromtrans or other Biomass CHP and Small Hydro. Edward J. Klaeger IV, CEO of AEG explained, ‘The formal signing of the Term Sheet with Epoch is the result of more than three and half years of extensive due diligence and business development by AEG supported by a sound business plan and financial model using Western standard practices. The result of works performed by AEG and its Ukraine subsidiaries is the implementation of the first true commercial biomass (wood) project in Ukraine. The proposed investment proves that Foreign Direct Investment (FDI) for Ukraine Green Tariff projects, when properly developed, is marketable and viable.’ Owais Khanani, Managing Partner of Epoch states, ‘We are intrigued with AEG’s tremendous progress in making the Smela Biomass CHP plant and the Ukraine renewable energy market in general such an attractive opportunity. The precedent Smela Stage I set’s will clear the path to build and expand in the region. With a strong management team in place and project support through Ukraine Green Tariff, we see investment in this region as a win-win opportunity for Epoch, AEG and its shareholders’ About AEG: AEG is a Zurich-based publicly traded Swiss company with operations in Ukraine. AEG is active in developing; acquiring and making investments in Ukraine based renewable energy generation and distribution projects and companies. About Epoch: Epoch Capital Group, LLC is an Orlando, FL based private equity firm. Epoch’s core approach to business is to 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. For more information on AEG please visit: www.alterenergygroup.com For more information on Epoch, please visit: www.EpochCapitalGroup.com Contact Investor Relations: info@alterenergygroup.com +41 44 500 5411 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. End of Corporate News 10.09.2010 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
98393 10.09.2010 |