Alter NRG Corp. receives next installment on Thailand license and provides Thailand project update

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CALGARY, Jan. 7, 2015 /CNW/ - Alter NRG Corp. ("Alter NRG" or the "Company") is pleased to announce that it has received a second installment payment on the exclusive license agreement previously announced on December 6, 2013 with Waste2Tricity International (Thailand) Limited ("Waste2Tricity").   The exclusive license is for the Thailand market for an initial term of 5 years for a price of $CAN2 million and Waste2Tricity paid $CAN1 million in 2013, has paid a further milestone payment of $CAN325,000 and has agreed to pay the remaining amount by March 31, 2015.  Waste2Tricity is a subsidiary of UK based developer Waste2Tricity Ltd and the group is actively developing projects in the UK and Thailand using the Westinghouse Plasma Gasification Technology owned by Alter NRG.  

Waste2Tricity has made substantive progress in the Thailand market during the first year of the exclusive license.  They have selected the site for the first 1,000 ton per day project and completed the initial engineering study.  This first project has also applied for the Power Purchase Agreement with the Thailand government and is awaiting approval.  The Thailand market is facing shortages of reliable base load power supply and has high power prices which are expected to generate attractive project returns for this project.  Waste2Tricity has also identified a second site and is also preparing to apply for approval for a power purchase agreement on the second project.

PK Thummukgool, Country Director for Waste2Tricity International (Thailand) Ltd states that "As the exclusive licensee of the Westinghouse Plasma Technology in Thailand Waste2Tricity is pleased to be moving forward on several projects.  These include large scale projects similar to those being completed by Air Products in Tees Valley, England as well as several smaller scale hazardous waste projects. The hazardous waste projects will use the turn-key Westinghouse Plasma units which have been showcased in the reference facility in Shanghai, China.  The Thailand market has significant demand for power from waste and also for innovative hazardous waste destruction, reasons which make it a strong market for Waste2Tricity to continue to pursue."

Waste2Tricity is hosting an event at the UK embassy in early Jan hosted by Tim Yeo MP Chair of the Commons Select Committee on environment and climate change; this will be attended by senior government and industry leaders to continue to advance their business development in the region. 

Under the terms of the license, Waste2Tricity receives the exclusive use of the Westinghouse Plasma Gasification Technology in the country of Thailand.  In addition to the initial exclusive license fee and purchase of the Westinghouse Plasma Equipment, Waste2tricity will pay $CAN3,500 per ton of gasifier design capacity for site licenses and a royalty of $CAN 5 per ton of feedstock processed.  The initial term is for 5 years during which they must order equipment for two facilities of 250 tons per day or greater in order to extend the license for an additional 5 years.  Further extensions to the term are available for the Thailand market if other escalating project milestones are met.

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 commissioning development of future projects by Waste2Tricity, the .  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 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]