DGAP-News: Alter Energy Group AG: Alter Energy Group signs Letter of Intent for new project and proposed U.S. Listing
(firmenpresse) - Alter Energy Group AG / Letter of Intent
30.03.2010 13:40
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'Alter Energy Group signs Letter of Intent for new project and proposed
U.S. Listing'
Zurich Switzerland - March 30, 2010
ALTER ENERGY GROUP AG ('AEG') (Frankfurt Stock Exchange Ticker Symbol: 39f)
announced that on February 18 2010 the company signed a formal Letter of
Intent with New York based investment banking firm Jesup&Lamont
Securities Corporation, a FINRA member firm, and Epoch Environmental, LLC,
a U.S. based environmental energy development and finance company for a
proposed Joint Venture and U.S. Exchange listing.
Under the terms and conditions of the Letter of Intent (LOI), Jesup&Lamont (Jesup) and Epoch Environmental (Epoch) will, together with AEG,
form a Joint Venture for the development and finance of a multi-stage
business unit focusing on the development and finance of an Oilseed
extraction and Biomass combined heat and power (Oilseed CHP) facility in
Europe utilizing Epochs proprietary esterification technology and rapeseed
feedstock from Ukraine.
In addition, AEG received exclusive European rights to the Epoch technology
for a period of three years and will provide its Smela biomass CHP pilot
project as collateral for a $1,500,000 USD Bridge Loan to be provided by
Jesup and Epoch. The Joint Venture (JV) will be listed on a U.S. Exchange
with a new share distribution to existing AEG shareholders and earnings per
share for the AEG ownership reflecting in its current Swiss corporation and
Frankfurt Stock Exchange listing.
Edward J. Klaeger IV, CEO of AEG explained, 'The signing of the Letter of
Intent represents significant progress in our efforts to secure funding for
new project development and market liquidity for our investors and
shareholders. The project will establish AEG in the highly lucrative, high
growth European biodiesel market while benefiting its core renewable power
production under Ukraine Green Tariff. Though we can use standard rapeseed
oil refining technology for the proposed Oilseed CHP facility, the Epoch
technology provides AEG a competitive advantage that is well established
with 17 facilities currently in operation in the U.S. and Central America
and several more in development. Jesup&Lamont brings a track record of
success with a strong established presence in capital markets to help
ensure a successful entry into the U.S. financial markets. We plan to
enhance our Frankfurt listing in parallel with execution of our model and
the audits and filings for the proposed Joint Venture U.S. listing.'
Owais Khanani, Managing Partner of Epoch Environmental said, 'We look
forward to working with AEG in entering the European bio-diesel market and
with Jesup for our Investment Banking and U.S. Listing to build strong
value for our investors and shareholders. Ukraine provides a good entry
point into the European biodiesel feedstock market due to the abundance of
rapeseed, low cost operations, ease of transport to EU markets, and
favorable legislation. Ukraine provides added value as an inexpensive
region for sourcing premium feedstock (rapeseed) for our proprietary
technology to be applied in Oilseed CHP facilities. We plan to file our
International patents within the next 6 months to further strengthen our
European position and competitive advantage with AEG.'
Daniel Nicholas, Managing Director, of Jesup&Lamont said, 'We are very
excited about working with Epoch and AEG to penetrate the European
bio-diesel market using premium feedstock available in Ukraine where AEG
has a well established presence. There is a tremendous amount of work to
be done on the ground in the U.S., Ukraine and Europe. Unless there are
unforeseen delays we anticipate a successful U.S. listing for the Joint
Venture and an enhanced Frankfurt listing for AEG sometime in the mid to
late 3rd quarter.'
About AEG: AEG is a Zurich-based publicly traded Swiss company with
current project operations in Ukraine. AEG develops, acquires, and invests
in alternative and renewable energy projects and companies.
About Epoch: Epoch Environmental, LLC, based in Orlando, Florida is an
affiliated entity of Epoch Capital Group, LLC an Orlando-based Private
Equity Firm. Epoch Environmental and its affiliates have proprietary
technology which is utilized in developments of alternative and renewable
energy plants. The Epoch Companies provide capital and strategic support
for growth companies. With a global approach, sector specific expertise,
and a deep understanding of growth drivers, the Epoch Companies partner
with great management to build exceptional businesses.
About Jesup&Lamont: Founded in 1877 Jesup&Lamont is a New York based
FINRA member full service Investment Banking and Corporate Finance firm
with an in-house team of more than 300 retail brokers, 11 analysts and a
comprehensive marketing program as well as a strong finance and retail
market support syndicate.
For more information on AEG please visit: www.alterenergygroup.com
For more information on Epoch please visit: www.epcohenvironmental.com
For more information on Jesup&Lamont please visit: www.jesuplamont.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.
30.03.2010 13:40 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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Datum: 30.03.2010 - 07:40 Uhr
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