DGAP-News: Alter Energy Group Signs $3,100,000 Term Sheet for Ukraine renewable energy projects
(firmenpresse) - DGAP-News: Alter Energy Group AG / Key word(s): Agreement
Alter Energy Group Signs $3,100,000 Term Sheet for Ukraine renewable
energy projects
10.09.2010 / 09:47
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'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(at)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
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98393 10.09.2010
Datum: 10.09.2010 - 09:47 Uhr
Sprache: Deutsch
News-ID 32175
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