Alter NRG reports third quarter 2014 activities, financial results and schedules third quarter results conference call for November 10, 2014

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CALGARY, Nov. 6, 2014 /CNW/ - (TSX - NRG; OTCQX - ANRGF) - Alter NRG Corp., ("Alter NRG" or the "Company") is pleased to report on its corporate activities and financial results for the three and nine months ended September 30, 2014. Walter Howard, CEO of Alter NRG, will host a conference call on Monday, November 10^th at 11:00 AM ET (9AM MT) to discuss third quarter financial results.

The conference call will include a brief presentation about Alter NRG's third quarter and then a question and answer period with management.

Investors can access the call by dialing toll free 800-505-9568 or 416-204-9271 and reference conference ID 1258715.  

The live call can also be accessed through Alter NRG Investor Relations section of its website at http://www.alternrg.com.  A replay of the call will also become available on the AlterNRG website following the live call.

Management will accept questions by telephone during the live call and e-mail. Individuals can email questions in advance or during the conference call to [email protected].

Q3 HIGHLIGHTS

• Sales of $6.9 million which is an increase of 172% over the same period of the prior year.  This revenue increase reflects the maturing business plan of Westinghouse Plasma. Currently there are five separate facilities being constructed or recently commissioned with over $1 billion of total capital spending with the Westinghouse Plasma Solution as the core enabling technology.  The Westinghouse Plasma Technology continues to be the market leader in terms of reference facilities and commercial experience in next-generation waste-to-energy solutions.

• Supported commissioning efforts at the first Tees Valley project being developed by Air Products, a Fortune 500 Company, which is completing final construction and has begun commissioning of the facility.  Air Products expects the first plant to be in start-up phase in late 2014 and go into commercial operation in 2015. Once operational, the facility will generate approximately 50MW of electricity from non-recyclable waste and produce enough reliable, controllable and renewable electricity to power up to 50,000 homes.

• Continued fabrication and execution on a US$21 million purchase order for Air Products for a second facility in Tees Valley, England.  The second facility is on adjacent lands and of a similar size and configuration as the first facility.  Alter NRG is approximately 86% done the fabrication efforts which will continue throughout 2014 for expected delivery before the end of 2014. 

• In February 2014, the Company announced a US$15 million sale of the Westinghouse Plasma Solution in Bijie China.  The project is anticipated to take 600 tonnes per day of waste and convert it into electricity.  The project has now completed the majority of the detailed engineering and advanced site preparation construction.  The project ran into a regulatory delay, however recently had its final public open house and is expecting final approvals in Q4, 2014. These approvals will be followed by commencement of fabrication of the Westinghouse Plasma Gasifier.  This project is being advanced by Green Environmental Solutions, and this is the first of many similar projects being advanced by them in Southern China.

• Supported the commissioning of a hazardous waste destruction facility in Shanghai China being operated by GTS Energy. This reference facility is 30 tonnes per day and complements the incineration market as it turns a hazardous incinerator fly-ash (as well as other hazardous waste) into an environmentally friendly slag and provides increased energy production.  In the first quarter, the Company signed a joint development and marketing agreement which provides for worldwide selling and marketing rights for the sale of turn-key waste-to-energy destruction units and Alter NRG is finalizing product specifications and marketing materials for this product.  The facility has now been successfully commissioned and is actively touring customers around the reference facility, including an open house this November. Announced that our technology has been selected by China Everbright International Ltd. ("Everbright") for a proposed project in Nanjing China.  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 project is expected to begin engineering in late 2014 and to begin construction in the latter half of 2015.

• Advanced business development efforts with Waste2Tricity supporting activities in England and Thailand.  Last year, Alter NRG granted them an exclusive license in the Thailand market for US$2 million, for which they paid $1 million already and are expected to pay the remaining $1 million in December of 2014.  Waste2Tricity has been developing several projects in Thailand, which are expected to enter into the engineering phase in Q4 of 2014 and a project in England, which has advanced to a concept design study.  Waste2Tricity has a common shareholder with Alter NRG, Ervington Investments Limited which is a company that has Roman Abramovich as its ultimate beneficial owner. 

• Wuhan Kaidi ("Kaidi") completed construction of its demonstration facility in China and the Westinghouse Plasma Solution was commissioned in 2013.  The facility processes 100 tonnes per day of biomass waste and converts it into liquid fuels.  Recently, Kaidi announced that it had purchased the Rentech liquids conversion technology to convert the syngas into liquid fuels which is a promising step forward for the demonstration project.  Alter NRG is currently advancing technology licensing, engineering support and equipment purchase agreements with Kaidi.

• Supported business development efforts for a project in Barbados which is expected to take approximately 600 tonnes per day of the island's waste and convert it to electricity.  Cahill Energy signed an agreement with the Government of Barbados on March 15, 2014 to build and operate a leading edge clean energy plant on the Caribbean island. Established to finance, build, own and operate utility-scale waste-to-energy plants in key markets, Cahill Energy plans to utilize the Westinghouse Plasma Technology to transform all kinds of waste on Barbados into clean, renewable energy.  The project is expected to enter into engineering in 2014 or early 2015. 

• Announced the Marc 4.5 Westinghouse Plasma torch which provides up to 40% greater overall torch efficiency when utilized in the large scale 1,000 tonnes per day Westinghouse G65 Plasma Gasifier. In addition to supporting Westinghouse Plasma waste-to-energy facilities, the newly designed torch satisfies a market demand for an efficient and clean heat source for metallurgical recycling, blast-furnaces, foundry cupolas, iron making and other industries using coal, coke, or higher cost fuels.  These torches have been delivered to the Tees Valley site for commissioning.

• Continued due diligence and financing efforts related to the Company's investment options in current projects, as well as supporting developers in the late stages of development.  These relationships allow for participation in the annuity cashflow of projects through a partnership structure. These relationships are favourable for the Company as it does not have to deploy the risky development capital but can participate in the project level annuity cashflow after the project has been de-risked.

In addition to the highlights above, customers around the globe continue to advance their business development efforts using the Westinghouse Plasma Solution.  This includes exclusive license agreements for territories that are in advanced negotiations, as well as projects which are undertaking engineering and are in regulatory approval processes.

CORPORATE

• In February of 2014, the Company closed a financing of common shares for $5 million at a price of $2.56 per common share.  The strengthened balance sheet in conjunction with the orders in late 2013 and early 2014 put the Company in a strong financial position.

• Announced the implementation of a Strategic Advisory Group which includes industry experts for various market segments including conversion of syngas to liquids fuels, waste-to-energy facilities in Europe, and the use of plasma torches for industrial and metallurgical applications.

• Announced the appointment of Scott Whitney to the Board of Directors.  Scott was previously the President of Covanta, Europe and brings a wealth of contacts and industry knowledge in the waste-to-energy market.

CEO'S MESSAGE

Our business is getting very exciting. With the world's largest plasma gasification facility about to commence operations in England; a new marketing relationship with the world's largest turbine manufacturer; and our maturing pipeline of projects, the Westinghouse Plasma Technology continues to re-define the waste-to-energy market.  This has manifested in increased revenues and a quarter with positive cashflows from operations, which is a significant milestone in a growth company. We are helping to commission the world's largest next-generation facility which provides us a reference plant that is of meaningful size and replicable around the world for waste-to-energy facilities.  I would like to refer you to page 6 of this report which has a photo of the Tees Valley site and photos of our core Westinghouse Plasma Torches which have now been tested and are operational at the site in England.  Although the full facility will not be operational until early next year, it is an exciting time for our Company as we eagerly await its commercial operation.  To put it simply, this facility produces both more energy output and cleaner output than existing waste-to-energy solutions.  It is attracting significant attention worldwide.

In October, I co-presented with GE at the Power-Gen conference in Abu-Dhabi.  The presentation described how the Westinghouse Plasma Technology has the ability to replace higher price fossil fuels (like natural gas, LNG and Fuel Oil) with our syngas.  The relationship with GE and having them conclude our syngas is usable in their gas turbines is something that may not be immediately valued by the capital markets, but is something that is very meaningful.  GE has literally thousands of turbines operating all over the world and in many cases these operate on high cost fossil fuels like LNG, or Fuel Oil that can cost between $15 to $20 per Mmbtu.  We can produce our syngas for less than $5 per Mmbtu which provides significant opportunity for any user of a GE gas turbine to lower their costs and improve profits.  This is a very economical solution that also has a huge addressable market – stay tuned.

Our commercial momentum is further reinforced with having our pipeline mature, by projects advancing into engineering and also by being selected by new customers.  In a recent Mayor's forum in Nanjing, China our technology was announced to have been selected by China Everbright.  China Everbright is Southeast Asia's leading waste-to-energy company processing over 40,000 tonnes of waste per day and this announcement was the culmination of years of work with them to understand the benefits of our more energy efficient, cleaner solution.  Combine this new customer with continued advancements from our customers including GreenWorld Energy Solution which recently obtained regulatory approvals for their project in China, the recent reference facility in Shanghai, and our customer in Barbados receiving a very attractive power offtake agreement; I hope you can understand my excitement.

We appreciate the support from our investors as we continue to develop commercial momentum through increased market penetration.  I believe 2014 and 2015 will be exciting times for our shareholders as our momentum continues to increase and our growth is supported by a strong management and technical team.  I am excited about the future and investors should continue to expect announcement of maturing projects, new customers and new relationships as we continue to hit significant commercial milestones.

SELECT FINANCIAL RESULTS ($)

Balance Sheet	September 30, 2014	December 31, 2013
Total assets	$ 60,531,652	$ 56,944,155
Total liabilities	25,116,769	21,099,322
Total equity	35,414,883	35,844,833

Income Statement	Three months ended September 30		Nine months ended September 30
	2014	2013	2014	2013
Sales	$ 6,886,163	$ 2,527,704	$ 21,170,055	$ 11,237,133
Gross profit	2,430,291	1,539,337	4,769,609	2,735,491
Loss from operations	(251,774)	(4,449,633)	(7,019,651)	(8,853,767)
Basic and diluted loss per share, operations	(0.01)	(0.17)	(0.25)	(0.35)
Total comprehensive income (loss)	857,386	(4,735,280)	(6,121,900)	(8,352,300)

For more information on the Company's financial results please visit www.alternrg.com or www.sedar.com to view Alter NRG's 2014 Third Quarter Report.

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", "objective", "may", "will", "believe", "intends", "hope", and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this news release contains forward-looking information and statements pertaining to the following: availability and cost of key materials and labour and availability of funds with respect to the amount of capital expenditures and scheduled commencement of operations; timing of regulatory approval including various permits from the applicable government authorities; the assessment of capital markets including the availability of debt and equity in current market conditions; commodity prices for electricity, natural gas, coal and other resources that impact the Company's operations directly and indirectly; extent of investment by government authorities in infrastructure projects; the financial and operational health of key partners in various projects; the continued development of the Company's technology and its use in various applications and other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. 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; the completion of strategic partner's projects; arrangements with key suppliers; potential product liability and other claims; other business risks outlined in this news release, including risks associated with the proprietary technology; the possible unavailability of financing at competitive rates and the related effect on development activities; the effect of energy price fluctuations; changes in government regulation, including changes to environmental regulations; the effects of competition; the dependence on senior management and key personnel, 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 27, 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]