To Advertise On Our Website Click Here

ALTERNATE ENERGY HOLDINGS, THE LITTLE ENGINE THAT COULD, RECEIVES FUNDING COMMITMENT FOR $120 MILLION

The idea that a small, independent company in Idaho with a penny stock can accomplish what Constellation Energy and Duke Power are finding almost impossible may seem far-fetched. But Alternate Energy Holdings is trying.
 
The company, whose stock sells for 75 cents a share, announced yesterday it has received a Securities Purchase Agreement with Source Capital Group, Inc. for a commitment to purchase of up to 170 million shares of common stock worth approximately $120 million today. The funds would be used to cover payments for land, water rights and engineering work plus pay the application fees to begin licensing procedures before the Nuclear Regulatory Commission.
 
AEHI, which bills itself as “the nation’s only independent nuclear power constructor,” is proposing to build two 1700-MW power plants in Payette County, Idaho. The idea may seem quixotic but AEHI has the complete support of Payette County officials and has now managed to convince investors the project has merit.
 
“We must have baseload electricity, which means large, highly reliable sources of power that renewables can’t deliver,” says CEO Don Gillespie, a 45-year veteran of the nuclear industry. “If we don’t build clean low cost nuclear plants, it will be more of the same – pollution from toxic coal plants that are already being planned because of the current nuclear plant delays."
 
Payette County is only one of AEHI’s projects. It is also working on the Colorado Energy Park, a combined nuclear and solar power station, and Green World Water, a system that helps developing countries use their nuclear reactors for the production of potable water and other applications. The company also has a subsidiary, AEHI China, headquartered in Beijing, that is developing joint ventures to consult on nuclear development and produce nuclear plant components.

Read more at Market Watch

Tags: , , ,

Comments are closed.