ALTER NRG ANNOUNCES THE CLOSING OF A TESTING SERVICES AGREEMENT FOR $750,000
Calgary, Alberta, May 23, 2013 - (TSX - NRG; OTCQX - ANRGF) - Alter NRG Corp., (“ Alter NRG ” or the “ Corporation ”) is pleased to announce the signing of a contract with the Connecticut Center for Advanced Technology, Inc. (“CCAT”) for approximately $750,000 of testing services at the Westinghouse Plasma Center in Pennsylvania. Westinghouse Plasma is a wholly owned subsidiary of Alter NRG and has a testing center in Pennsylvania which can perform gasification testing for different feedstocks to test syngas composition and quality and optimize facility engineering and design.
The contract is to take various combinations of coal and municipal solid waste and convert it into syngas for testing as part of the carbon capture, sequestration, reuse, and usage in liquid fuel technologies on behalf of the US Department of Defense. The testing program is expected to be completed by the end of the third quarter of 2013.
Alter NRG provides alternative energy solutions to meet the growing demand for environmentally responsible and economically viable energy in world markets. Alter NRG's primary objective is to further commercialize the Westinghouse Plasma Gasification Technology, through its wholly owned subsidiary, to provide renewable and clean energy solutions from a wide variety of feedstocks, and provide a wide variety of energy outputs – including liquid fuels like ethanol and diesel, electrical power, and syngas.
For additional information please contact:
Walter Howard, Chief Executive Officer
(403) 806-3877 whoward@alternrg.ca
Daniel Hay, Chief Financial Officer
(403) 214-4235 dhay@alternrg.ca
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
Advisory Respecting Forward-Looking Statements
This news release contains certain forward-looking information and statements within the meaning of applicable securities laws . In particular , this news release contains forward-looking information and statements pertaining to the timing and completion of the testing program . Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements in this news release.
The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Forward-looking statements reflect management’s current beliefs and assumptions, based on information currently available to management. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, many of which are beyond the control of the Corporation. Among the material factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: that the information is of a preliminary nature and may be subject to further adjustment; unforeseen environmental effects; arrangements with key suppliers; potential product liability and other claims; risks associated with the proprietary technology; changes in government regulation, including changes to environmental regulations; the dependence on senior management and key personnel, failure of CCAT to perform its obligations under the contract and fluctuations in currency exchange rates and interest rates, as well as those factors discussed in or referred to under the heading “Risk Factors” in the Corporation’s Annual Information Form dated March 28, 2013 available at www.sedar.com . Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements.
The Corporation 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 Corporation 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.
