Alter Energy Group AG
Alter Energy Group AG: ‘Alter Energy Group signs MoU with Ivano-Frankivsk Regional Administration’
Alter Energy Group AG / Key word(s): Letter of Intent ‘Alter Energy Group signs MoU with Ivano-Frankivsk Regional Administration’ Zurich Switzerland – June 29, 2011 http://www.if.gov.ua/modules.php?name=News&file=article&sid=13680 Under terms of the MoU AEG will provide Western expertise and advanced technologies in the development and implementation of small hydro, and biomass power and combined heat and power (CHP) in the IF region utilizing its vast and underdeveloped small river hydro and biomass potential. AEG will also provide capital formation, legal structure and Western standard due diligence, satisfactory to AEG in its sole discretion, to ensure all projects are implemented with the highest levels of transparency, business ethics and profitability. ICC Ukraine will provide government, logistical and administrative support in close cooperation with the RSA and private sector, with the providing AEG with select small hydro and biomass project sites, including full governmental support on both the State and Municipal levels. Edward J. Klaeger IV, CEO of AEG stated, ‘The signing of this MoU provides AEG and its investors with the necessary strategic relations required for successful implementation of the IF Regional small hydro and biomass power and CHP strategies. Based on our conversations prior to signing the MoU, under the regional small hydro development plan we believe there are up to 65 small hydro stations currently under consideration by the Municipality as well as vast and undetermined biomass feedstock for power production and manufacture in the region. AEG will receive its option of the most suitable sites for development. We look forward to a long and successful relationship with the Regional Administration and ICC. Of course the ultimate benefit is to the communities in the region that will receive much needed independent power production, with environmental controls such as anti-flooding and increased employment for the local workforce. ‘ About AEG: AEG is a Zurich-based publicly traded Swiss company with emerging market operations in Ukraine. AEG develops, acquires, and invests in alternative and renewable energy projects and companies. The current target market is Ukraine with planned expansion into other emerging markets in the region as well as established markets such as the U.S., Canada and Germany for future consideration. About ICC Ukraine: ICC Ukraine is the first National Committee in CIS established in 1998 upon the approval by ICC World Council in Paris to represent tendencies of the World Business organization in order to facilitate international integration of Ukrainian business environment. ICC Ukraine is a non-profit, non-governmental organization (NGO) having its strategic goals in facilitating trade and investment domestically and on external markets, as well as lobbying and protecting the interests of its members both domestically and internationally. In 2009 ICC Ukraine started GREENERGY Initiative program intended on support to the achievement of national goals in renewable energy implementation by attracting and accompanying investments into Ukraine’s alternative energy sector. Contact 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 29.06.2011 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 |
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