DGAP-News: Alter Energy Group signs Letter of Intent with Greenworx Holdings N.V.
(firmenpresse) - DGAP-News: Alter Energy Group AG / Key word(s): Letter of Intent
Alter Energy Group signs Letter of Intent with Greenworx Holdings N.V.
11.05.2011 / 13:22
---------------------------------------------------------------------
Zurich Switzerland - May 11, 2011
ALTER ENERGY GROUP AG ('AEG')(the 'Company'), Frankfurt Stock Exchange
Ticker Symbol: 39f; WKN: A0MW07; ISIN: CH0032424969, announces that on May
5thth 2011 it signed a formal Letter of Intent with Belgium based Greenworx
Holding LLC.
Under terms of the Letter of Intent (LOI) Greenworx Holding LLC (GWXH) and
AEG will jointly develop, own and operate an integrated biomass power plant
project in Zhitomir region Northern Ukraine. GWXH will provide a minimum
investment of EUR 1,000,000 with an option an additional EUR 500,000 -
1,000,000 if required for project completion. AEG will match the Greenworx
investment with an additional two percent (2%) capital contribution for
fifty-one percent (51%) initial majority ownership of the project.
Upon successful online operations AEG will receive an additional 4% for
project development. The final proposed SPV ownership structure is AEG 55%
and GWXH 45%.
Edward J. Klaeger IV, CEO of AEG stated, 'We are glad to be developing our
integrated biomass power plant with Greenworx. We have a very good working
relationship and they are a strong strategic partner that is already
providing guidance in project development and finance. We look forward to
the successful implementation of the project and our relationship with
Greenworx.'
GWXH management confirms they look forward to a solid partnership with AEG.
Joining forces with its experienced and highly specialized team members
will allow GWXH a faster and stronger entry into the Ukrainian biomass
market.
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 possible expansion into other regional
emerging markets under consideration.
About Greenworx Holding: Greenworx Holding N.V. is a Belgium based holding
company specializing in renewable energy (biomass, geothermal, waste and
wind) development and investment with focus on Eastern and South Eastern
Europe.
Contact
Investor Relations: info(at)alterenergygroup.com
Website: www.alterenergygroup.com
www.greenworx.eu
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
---------------------------------------------------------------------
11.05.2011 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
---------------------------------------------------------------------
124048 11.05.2011
Datum: 11.05.2011 - 13:22 Uhr
Sprache: Deutsch
News-ID 34035
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 183 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Alter Energy Group signs Letter of Intent with Greenworx Holdings N.V."
steht unter der journalistisch-redaktionellen Verantwortung von
Alter Energy Group AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
