Alter Energy Group AG
Alter Energy Group AG announces LOI’s for sustainable biomass supply
Alter Energy Group AG / Key word(s): Letter of Intent ‘Alter Energy Group AG announces LOI’s for sustainable biomass supply.’ Zurich Switzerland – August 16, 2011 The LOIs, which were signed with 10 private sawmills, the Zhytomir Regional Forestry and Hunting Department (ZRFHD) plus the Zhytomir regional municipal enterprise ‘Zytomyroblagrolis’ (ZOA) of the State Agriculture Forestry Administration, represent a combined total of 34 wood waste suppliers located within a 66km weighted average distance from the proposed site. The LOIs were signed between June 8th and August 5th this year and will provide the BPP a sustainable biomass supply of 128,315 metric tons (MT) per year for up to 5 years with a 5 year renewable option (at AEG’s discretion) from sawmill waste, forestry slash, and firewood and meets 175% of the BPP’s projected demand. Therefore, the BPP has the ability to increase its power production for possible export or produce other biomass related revenue streams such as pellets and wood chips. Edward J. Klaeger IV, CEO of AEG states, ‘The signing of these LOIs is the result of several months’ of hard work and negotiations by AEG and our strategic partners in Ukraine. The LOIs enable us to go forward with the planned implementation of our proposed 6MWe wood biomass power plant in the Zhytomir region of Ukraine with the security of a sustainable biomass supply. The LOIs also marks a significant achievement for our long term success in the region. We are currently preparing ZBM Group to begin wood collection with possible biomass manufacturing and distribution to generate income in the near term while the plant is under construction.’ 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 ZBM Group: ZBM Group is a Ukraine LLC focused on the collection, manufacture and distribution of waste wood, and possibly other types of biomass in the future, in the Zhitomir region of Ukraine. For more information please visit: www.alterenergygroup.com Contact Forward-Looking Statements End of Corporate News 16.08.2011 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 |
135905 16.08.2011 |