DGAP-News: Alter Energy Group AG announces LOI's for sustainable biomass supply
(firmenpresse) - DGAP-News: Alter Energy Group AG / Key word(s): Letter of Intent
Alter Energy Group AG announces LOI's for sustainable biomass supply
16.08.2011 / 17:00
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Alter Energy Group AG announces LOI's for sustainable biomass supply.
Zurich Switzerland - August 16, 2011
ALTER ENERGY GROUP AG (AEG) (Frankfurt Stock Exchange Ticker Symbol: 39f;
WKN: A0MW07) announces that its wholly-owned biomass supply company ZET
Biomass (ZBM) Group has signed multiple Letters of Intent (LOIs) to
purchase the sustainable waste wood supply required for its first planned
integrated biomass power plant (BPP) in Ukraine.
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
Investor Relations: info(at)alterenergygroup.com
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
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135905 16.08.2011
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Datum: 16.08.2011 - 17:00 Uhr
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News-ID 47329
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