Business
Alter NRG reports third quarter 2009 activities, financial results and announces appointment of director
Alter NRG reports third quarter 2009 activities, financial results and announces appointment of d...
About this update from Alaska Hydro Corp.
[{"type":"text","content":"\n\n\n\nNov. 10, 2009 (Canada NewsWire Group) -- CALGARY, Nov. 10 /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 month period ended September 30, 2009 and announce the appointment of Mr. Kevin M. Bolin to the Board of Directors.Mr. Bolin is President and CEO of EnerTech Environmental, Inc., a private renewable energy company that converts biomass, primarily municipal sewage sludge, into clean fuel. Mr. Bolin has led the Atlanta-based company since its inception in 1992 and has been involved in all aspects of its growth and development, both domestically and internationally.In his position at EnerTech, Mr. Bolin has raised over $50 million in corporate equity, negotiated international license agreements, grown the company's intellectual property portfolio, and built strategic relationships that enabled execution of its business plan. Most recently, he was responsible for the successful negotiation of 25-year municipal contracts and contracts for renewable fuel product, which allowed for the $165 million project finance of a first-of-its-kind sewage sludge-to-fuel facility in California.In addition to his experience in the renewable fuels market, Mr. Bolin's background includes positions as Audit Senior with KPMG Peat Marwick and Sales Account Executive with WAGA-TV (CBS affiliate). Mr. Bolin holds a B.B.A. in Accountancy from the University of Notre Dame and was certified as a Public Accountant in the states of New York and Georgia.The following are the highlights for the third quarter of 2009 and the period up to November 9, 2009.Q3 HIGHLIGHTS- Acquired Clean Energy Developments (CleanEnergy), a leading privatecompany providing geoexchange services in the Canadian commercial,industrial and residential markets. Geoexchange is the industry'sterm to describe using heat from the ground to provide anenvironmentally friendly means for heating and air conditioning.Geoexchange systems have lower energy consumption compared toconventional equipment and adoption of this technology hasexperienced rapid market growth worldwide in recent years. Alter NRG,through CleanEnergy, intends to offer turnkey geoexchange solutionsto the market which includes engineering, equipment and installation.- Completed the con...