BOISE, ID -- (Marketwire) -- 04/18/12 -- Alternate Energy Holdings, Inc. (PINKSHEETS: AEHI) (www.aehipower.com) today announced the company disputes a current lawsuit, which was filed by generally the same small group of 'not in my backyard' (NIMBY) opponents that has continued to oppose AEHI's proposal to build a nuclear power plant in Payette County, also called the Idaho Energy Complex.
The suit attempts to overturn recent decisions by county officials through the court system. It does so by referencing implications from U.S. Securities and Exchange Commission allegations and making statements that sound strangely similar to those previously made by members of the Snake River Alliance (Idaho anti-nuclear activists).
However, it goes one step further by also implicating Payette County officials in an alleged scheme to defraud investors.
'This is an absolutely preposterous lawsuit, and I don't believe it's a coincidence they filed it directly after losing an attempt to consolidate two petitions for judicial review. To date they have lost every attempt at halting AEHI's project in Payette County and now they are apparently looking to accomplish their goals through a smear campaign in the courts. Only this time they are not only smearing AEHI but now they also include Payette County, which involves a variety of elected officials who spent over 18 months reviewing and eventually legally approving our requests for a rezone. These elected officials work for the good of their entire county and to have a few disgruntled people trying to impose their will on the rest of their community through a series of defamatory statements is reprehensible,' said Don Gillispie, AEHI CEO.
In April 2010 this same general group lost its attempts to stop the Payette County Planning and Zoning Commission (the 'Commission') and the Board of County Commissioners (the 'Board') from approving a change to the county's comprehensive plan.
In March 2011, the group lost an appeal before the Board of the Commission's approval of a height variance and recommendation of approval for a rezone of the Idaho Energy Complex property.
In June 2011 they also lost in an attempt before the courts to halt the rezone proceedings before the Board. As mentioned, the rezone was recommended for approval by the Commission. It was then unanimously approved by the Board.
In February 2012, the Board rejected this same general group's arguments in support of suspension of any work on the Idaho Energy Complex while court proceedings are pending.
Then, just a few days ago, on April 11, 2012, they lost an attempt to consolidate two petitions for judicial review. The petitions are aimed at reversing the height variance and rezone approvals by Payette County.
'They have lost at every turn, so I suppose they are now resorting to the most extreme of desperate measures. I am hopeful that the court will see through these shenanigans and put this issue to bed once and for all,' said Gillispie.
About Alternate Energy Holdings, Inc. (http://www.aehipower.com) - Alternate Energy Holdings develops and markets innovative carbon-free energy sources. The company is the nation's only publicly traded independent nuclear power plant developer seeking to build a new nuclear power plant; Idaho Energy Complex is the lead project. Other business units include Energy Neutral®, which reduces energy demands for homes and businesses using primarily renewables (http://www.energyneutralinc.com) and Green World Water?, which markets nuclear desalination reactors primarily to developing countries for production of potable water, power generation and other suitable applications (http://www.greenworld-h2o.com).
Safe Harbor Statement: Statements in this press release which are not purely historical, including statements regarding Alternative Energy Holdings', intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. As such, they are subject to risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements. . The forward-looking statements involve risks and uncertainties including, but not limited to, the risk the company may not raise sufficient money to fund the costs and expenses of the COLA application process, the risk that the company may experience delays in the COLA application process and the risk that the COLA application will not receive regulatory approval. Our business could be affected by a number of other factors, including the risk factors listed from time to time in the company's SEC reports including, but not limited to, the annual report on Form 10-K for the fiscal year ended December 31, 2010. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Alternate Energy Holdings, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.
Director of Corporate Communications
Alternate Energy Holdings, Inc.
Tel: (208) 939-9311