MERRITT ISLAND, FLORIDA -- (Marketwire) -- 07/29/10 -- Alternative Energy Partners (OTCBB: AEGY), provider of comprehensive alternative energy solutions, announces that it is expanding its capabilities in the European green energy market with a significant second deal.
In furtherance of its European energy initiative strategy, Alternative Energy Partners ('AEGY'; www.aenergypartners.com) subsidiary Skynet Energy Systems is entering into an agreement with Suna Energy, Inc. that will allow Skynet to be part of a minimum guaranteed sale of 20MW energy at local prices starting at $0.42/kwh for an estimated 1600 hours per year.
A Letter of Intent for land acquisition and an environmental engineering report are also underway.
This new energy deal is the second European engagement for AEGY. AEGY announced earlier this month that Skynet would have access to obtain Line Reservations in Europe, and thereby provide energy in Europe, including Bulgaria and other FIT (Feed in Tariff) countries. That deal anticipated a delivery of 19.65 MW of energy to surrounding areas.
CEO of Alternative Energy Partners ('AEGY') Gary Reed says, 'As I've said before, AEGY feels strongly about the potential for our green energy offerings in the European marketplace. The time is right, and the opportunities are presenting themselves. We look forward to continuing to strategically grow this initiative with an eye on increasing shareholder value while positively affecting the international communities we will be operating in.'
Earlier in July AEGY announced that Cliff Bream will be joining its Board of Directors. Bream is a graduate of the US Naval Academy as well as The Wharton School at University of Pennsylvania. Formerly an executive with Epson, Xerox, and Cable & Wireless, he has since turned his attention and talents to alternative energy, and is the CEO of Renewable Energy and Water, a California-based developer and systems integrator of renewable energy projects and water reclamation solutions.
About Alternative Energy Partners, Inc.
Alternative Energy Partners ('AEGY') is focused on sourcing, marketing and distributing renewable alternative energy solutions. Through its wholly owned subsidiary, Sunarias Corporation (www.sunarias.com), AEGY provides on-site solar-thermal energy systems that allow businesses to reduce energy costs. It also holds Shovon, LLC (www.shovon.com), provider of remote control energy managements. AEGY recently announced that through a third subsidiary, Skynet Energy Systems, Inc., it is poised to enter the European alternative energy market. AEGY's goal is to offer a full portfolio of high-performance energy solutions for homes and businesses of all sizes. Alternative Energy Partners is publically traded on the NASDAQ OTC (OTCBB: AEGY). For more information please visit www.aenergypartners.com.
FORWARD LOOKING STATEMENT
This announcement is not an offer to sell any Alternative Energy Partners ('AEGY') securities. Offers for any given security are made only through applicable offering circulars and related supplements filed with the SEC pursuant to Section 13(a), 13(c) or 14 of the Securities Exchange Act of 1934. Certain statements contained herein and subsequent oral statements made by and on behalf of AEGY may contain 'forward looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements are identified by words such as 'intends', 'anticipates', 'believes', 'expects', and 'hopes' and includes, without limitation, statements regarding AEGY's plan of business operations, product research and development activities, anticipated revenues and expenses and potential contractual arrangements and obligations. Forward-looking statements speak only as of the date of the document/oral statement in which it was made. In making any such statements, the person making them believes that his expectations are based on reasonable assumptions; however, any such statement may be influenced by factors that could cause actual outcomes and results to be materially different from those projected or anticipated. These forward-looking statements are subject to numerous risks and uncertainties. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements and are mostly out of the company's control. Among these are: general economic conditions, receipt of additional working capital, and acceptability of the company's products in the marketplace as well as other factors set forth in the company's SEC filings. Thus, AEGY disclaims any intent or obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.
Alternative Energy Partners, Inc.
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