Alter NRG Corp. announces selection by leading waste to energy company for a Plasma Gasification Project

TSX - NRG
OTCQX - ANRGF

CALGARY, Oct. 6, 2014 /CNW/ - Alter NRG Corp. ("Alter NRG" or the "Company") announces that the Westinghouse Plasma Technology, wholly owned by Alter NRG, has been selected by China Everbright International Ltd. ("Everbright") for a proposed project in Nanjing China (the "Project").  Everbright is a leading international company in alternative energy projects including waste to energy with assets of approximately USD$6 billion. 

The Project intends on processing 500 tonnes of waste per day, of which approximately 250 tonnes of processed waste will be gasified using the Westinghouse Plasma Technology.  The resulting syngas created from the process will be used for electrical generation.  The Project has already finalized agreements with the Gaochun District in Nanjing and is in the process of finalizing an engineering study using the Westinghouse Plasma Technology.  In a press release earlier this year, Everbright commented that "through the introduction of plasma gasification technology as the Project's preferred technical solution, it will accelerate the research of new waste treatment technology."

Mr. Chen Xiaoping, CEO of Everbright, also commented that the "Project will be a starting point for us to initiate a comprehensive strategic cooperation with the Gaochun District Government in the areas of environmental protection equipment, environmental protection technology services and other environmental protection investment projects, in order to help improve the quality of the environment in Gaochun District and contribute to the sustainable development of the local community."

On Sept 23, 2014, Alter NRG attended and presented at the Nanjing Mayor's International Consultative Conference in support of the project.  At the conference Mr. Ruilin MIAO, Mayor of Nanjing, spoke in support of the project stating that "The Westinghouse Plasma Gasification introduced by Mr. Howard (CEO of Alter NRG) provides a sustainable solution for cleaner cities."

Mr. Howard, CEO of Alter NRG believes that "this Project illustrates the quality of our pipeline and another project being advanced by a leading worldwide developer of waste-to-energy facilities.   Our superior environmental profile and energy efficiency is being sought out in China which currently has people protesting less environmentally friendly technologies.  We believe this will be the beginning of a long-term relationship with a leading waste-to-energy provider in SouthEast Asia, providing an example for many developers and communities in the region."

The project is expected to begin construction in late 2015, however the Company does not currently have an order and terms of the technology sale are still under negotiation and no transaction may ultimately result.

ABOUT ALTER NRG

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.

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.  The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "confident", "might" and similar expressions are intended to identify forward-looking information or statements.  In particular, this new release contains forward looking statements pertaining to the final sale of equipment occurring in 2015, or at all, the regulatory approvals being obtained, and further projects being successfully advanced by Everbright.  Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout 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 Company. 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; failure of the proposed project to proceed to completion, arrangements with key suppliers; failure of the customer's board or PRC to approve full funding; the cancellation of the agreement at any time by the customer; potential product liability and other claims; risks associated with the proprietary technology; closing on grants and incentive's; changes in government regulation, including changes to environmental regulations; 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 Company's Annual Information Form dated March 28, 2014 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 Company 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 Company 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.

SOURCE: Alter NRG Corp.

Walter Howard, Chief Executive Officer, [phone], [email protected]; Daniel Hay, Chief Financial Officer, [phone], [email protected]