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Act of Congress "Hole in my Heart"
Back in business, for now.
link
A federal judge decided to unfreeze the assets of an Eagle-based energy company whose top executives are accused of defrauding investors. The ruling that came with some big conditions.
There was sigh of relief Thursday afternoon for Alternate Energy Holdings, Inc. executives as they left the U.S. District Courthouse in Downtown Boise. A federal judge decided to free up the company's assets that were frozen for several weeks. The Securities and Exchange Commission argued to keep the freeze in place.
"Had we lost, this company would be under. So, we are very, very, very pleased with the decision," said AEHI's Attorney Richard Roth of New York's Roth Law Firm.
Judge Edward Lodge ordered the company to report all expenditures of more than $2,500 to SEC regulators. He said AEHI must also give an accounting of the company's finances monthly, something Roth says is no problem.
"We report to the SEC quarterly anyway because we're a publicly reporting company. So, we'll report a little more than quarterly which is absolutely fine with us," he said.
This comes after the Payette County Planning and Zoning Commission's December recommendation to approve AEHI's plan to build a nuclear power plant just north of Payette.
"The company can go back and be in business and do what it does," said Roth.
The hearing was just the latest event in a battle between the energy company and the Securties and Exhange Commission. The SEC alleges AEHI Chief Executive Officer Don Gillispie and Vice President Jennifer Ransom secretly unloaded stock holdings and funneled the money back to Gillispie.
Gillispie has also taken a temporary leave of absence from the company as litigation continues. But Thursday's ruling is a battle won in what could be a long legal war.
"Eventually we will have a trial with a jury and we will have to go the distance unless for some reason it ends prematurely, settlement whatever," said Roth.
No timetable has been set for a trial involving AEHI. The company's attorney says it could be months before it reaches a courtroom.
In the meantime, the company can continue to conduct business and employees can receive paychecks.
Not staged; here's the source:
Argus Observer article
I count one .177 ding, a couple of .22 dents, and a .30 hole.
Per the Don: "better than a rock through the window."
Help is on the way...
NEW YORK, Dec 17, 2010 (GlobeNewswire via COMTEX) --
The Rosen Law Firm today announced that it has commenced an investigation into allegations that Alternate Energy Holdings, Inc. ("Alternate Energy") (Pink Sheets: AEHI | PowerRating) may have violated the federal securities laws by issuing false and misleading statements to investors about its business and its financial condition.
On December 16, 2010, the United States Securities & Exchange Commission ("SEC") filed a lawsuit against Alternate Energy, and its executives, charging them with misrepresenting the Company's business condition, manipulating the stock price, and concealing secret profits reaped by CEO Donald L. Gillispie and Senior Vice President Jennifer Ransom. The SEC has also suspended trading in Alternate Energy shares.
As a result of these allegations, the Rosen Law Firm is preparing a class action lawsuit on behalf of investors who suffered losses purchasing Alternate Energy stock.
You may access the website at http://www.rosenlegal.com to participate in the proposed class action.
If you purchased Alternate Energy securities and would like further information concerning your legal rights or your ability to recover your investment losses, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com or visit the website at www.rosenlegal.com
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and other complex shareholder litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
www.rosenlegal.com
DENVER, Dec. 17, 2010 (GLOBE NEWSWIRE) -- The Denver-based law firm of Dyer & Berens LLP (www.dyerberens.com) announced today that it is investigating potential securities law claims on behalf of Alternate Energy Holdings Inc. (Pink Sheets:AEHI) investors, including those investors who purchased pursuant to private placement memoranda. On December 16, 2010, the SEC charged the company's top officers with fraudulently raising funds for a $10 billion nuclear power project. The SEC is seeking an emergency court order to freeze the assets of the company and the two executives.
Dyer & Berens LLP believes that certain large investors may have very strong legal claims that may not be properly asserted in a class action lawsuit. Therefore, the firm is preparing a non-class lawsuit which will assert these claims on behalf of a small number of large investors. If you are a large Alternate Energy Holdings Inc. investor that is interested in participating in an individual lawsuit (as opposed to a class action), or have information relevant to the investigation, you may contact Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at jeff@dyerberens.com.
Dyer & Berens LLP has significant expertise in prosecuting both individual and class investor actions. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please go to www.DyerBerens.com.
CONTACT: Dyer & Berens LLP
Jeffrey A. Berens
(888) 300-3362 x302
(303) 861-1764
Full text of SEC Complaint
here.
Stick a fork in this one; it's done.
AEHI CEO Don Gillispie To The Federal Government: Please Correct Approval Process And Loan Guarantees For Nuclear Plants In 2011
link
BOISE, Idaho, December 13, 2010 – “Nuclear power holds enormous promise for meeting America’s need for clean, reliable, low-cost electricity, but the promise will only be realized if the U.S. government addresses its energy policy,” says Don Gillispie, CEO of Alternate Energy Holdings, Inc (OTCQB:AEHI; www.aehipower.com), a Eagle, ID-based company that plans to build new nuclear power plants and markets nuclear desalination systems. “We need a real energy plan,” he says.
“The right energy policy would streamline the approval process for new nuclear plants and greatly expand the U.S. government’s program to guarantee loans to stimulate domestic financing of those plants,” Gillispie argues. “It wouldn’t even cost taxpayers any money. With loan guarantees, the federal government is only required to pay if nuclear plant developers default on their loans and the chances of that are slim considering the money these plants can generate. The Energy Policy Act of 2005 was created to encourage clean energy developers with loan guarantees, among other things, but now we are greatly limiting them for nuclear power and even charging prohibitive upfront fees to qualify — hardly an incentive.”
According to Gillispie policy changes are urgently needed. The numbers tell a stark and worrisome story. The U.S. has 104 nuclear reactors, which make 20% of the nation’s electricity. Within about 25 years many of those plants will have reached the end of their lives, and will have to be replaced. Meanwhile, approximately 600 coal plants would cost too much to upgrade to meet new pollution rules, so they will be taken out of service; some are already in the process. In order to continue meeting the nation’s current baseload electricity demand, the country will need 300 or more new nuclear plants within 30 years or so. “We’d have to be on a path of 10-15 new nuclear plants a year when you include load growth starting now,” Gillispie says.
However, the country hasn’t even taken a small step on that path. While U.S. companies proposed building about 30 new nuclear plants over the next 10 years or so, most of the proposals are currently stalled. Plants that are on track to be built include two units at the existing Vogtle site in Georgia owned by Southern Company and two units AEHI plans to build in Payette County, Idaho. The AEHI plant will fall behind Vogtle due to the lengthy approval process involved with building on a previously undeveloped site, also known as a greenfield site. Even if the stalled proposals get moving, they won’t be nearly enough. “AEHI is planning for the potential to install an additional four units in the future while everyone else is talking about one or two,” says Gillispie. “At this rate, we’ll never be able to meet the country’s need for baseload electricity.”
What would greatly help speed up the development of nuclear plants? Probably, the most important step would be for the Nuclear Regulatory Commission (NRC) to approve designs and new sites more expeditiously, Gillispie says. “NRC officials are telling people it takes 54 months to approve an existing, but enhanced U.S. design that’s already shown to be reliable and safe and potentially even longer to approve a new greenfield nuclear site. Any industrial development, including mining and heavy manufacturing, are nearly impossible to get approved today. It is apparent our children will live at a lower standard if we do not wake-up and give business leaders some say in this country’s future, instead of catering to those who oppose everything in the name of the environment to a fault.
Life has risk, but there are even greater risks without proven technologies being used effectively. Western nuclear power has been proven safer than all other energy sources to date, yet getting plants built remains far too time consuming.” Nuclear plant approval delays mean that potential investors are instead putting their money in alternatives like wind, which can be approved and built in as little as a year—but can only supply a fraction of the country’s demand for power with high cost, poor reliability and large federal subsidies, not to mention it cannot provide needed baseload power to our electric grid.
That’s why Gillispie is encouraging his representatives in Congress to push the NRC to move faster or to pass legislation to streamline the approval process.
The second step would be to provide more loan guarantees for nuclear plants without excessive fees. Such guarantees enable companies to line up financing for new plants at an affordable cost. “There’s almost no risk to the government,” says Gillispie, “because nuclear plant developers will not default on those loans.”
The NRC must move expeditiously in order to fulfill the requests for more nuclear power now seen at a local level. AEHI’s own experience shows public opinion for nuclear is at an all-time high. At a key December 2nd county planning and zoning meeting, an overwhelming majority of the participants were in favor of zoning changes to permit the construction of AEHI’s proposed plant. On December 9th, those same county officials approved a recommendation to rezone 500 acres in rural Idaho, which has been designated as the future site for AEHI’s proposed nuclear power plant. “If the government will help us move faster, the nuclear industry will be able to deliver the critical power that America needs,” says Gillispie.
About Alternate Energy Holdings, Inc. (http://www.AlternateEnergyHoldings.com) — Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation’s only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral(TM), which removes energy demands from homes and businesses (http://www.EnergyNeutralinc.com) Colorado Energy Park (nuclear and solar generation), and Green World Water(TM), which assists developing countries with nuclear reactors for power generation (http://www.GreenWorld-H2O.com), production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power.
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “believe,” “expect,” “anticipate,” “project,” “target,” “optimistic,” “intend,” “aim,” “will” or similar expressions are intended to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events, including our ability to list on a national securities exchange. These statements are based on the beliefs of our management as well as assumptions made by and information currently available to us and reflect our current view concerning future events. 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. Such risks and uncertainties include, among many others: our significant operating losses; our limited operating history; uncertainty of capital resources; the speculative nature of our business; our ability to successfully implement new strategies; present and possible future governmental regulations; operating hazards; competition; the loss of key personnel; any of the factors in the “Risk Factors” section of our Annual Report on Form 10-K for the most recently completed fiscal year; and any statements of assumptions underlying any of the foregoing. You should also carefully review the reports that we file with the SEC. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law.
I'm afraid it's you that is twisting the truth. The Simco Road site near Elmore is the one that AEHI had water supply concerns about. The Payette site being rezoned has no such concerns. Where's the perjury?
Promotion link is here
OK; I'm in. Let's get this party started.
And that deal with Roswell Capital Partners has injected a much needed boost to credibility, IMO. Sometime in the coming months I hope to see PRs worthy of discussion rather than dismissal. I might even take a small position in this (hopefully before the pumpers and desperate shorts clog up the works). In the meanwhile, I cashed in some AUY this AM to load up on GBG.
AEHI Signs $150 Million Funding Commitment w/Roswell Capital
AEHI Signs $150 Million Funding Commitment with Institutional Investor Roswell Capital Partners to Fund Nuclear Power Plant Site AEHI withdraws previous agreement with Source Capital Group
new link
BOISE, Idaho, November 1, 2010 - Alternate Energy Holdings, Inc. (OTCQB: AEHI, www.aehipower.com/), announced today the signing of a $150M Equity Funding Facility with Alpharetta, Georgia based Roswell Capital Partners, which is designed to fund the initial phase of a nuclear power plant project in Payette County, Idaho. The funding proceeds will be applied towards the land, water rights and the Nuclear Regulatory Commission application.
Roswell has committed to purchase through one of its affiliates, subject to certain conditions and limitations set forth in the closing documents, including but not limited to the requirement for an effective registration statement and limitations based upon the trading volume of AEHI’s common stock for cash consideration, up to an aggregate of $150 million.
The Equity Funding Facility is a cost effective and flexible financing instrument that places AEHI in control of how and when it raises equity.
AEHI will control the timing and amount of any future sales of shares to RCP and is under no obligation to sell any additional shares to RCP.
Paul Gorski, Senior Investment Officer at Roswell added, "We are very excited to be working with AEHI and look forward to providing them with the necessary capital and support to achieve their potential in the coming years."
“Roswell Capital Partners have been excellent to work with as we share many of the same goals when it comes to nuclear power. This agreement gives us the ability to move forward on the initial phase of building of a nuclear power plant, which is something we both want to see happen,” said Don Gillispie, AEHI CEO.
Rezoning for the site in Payette County, Idaho, is expected to be completed as soon as the end of the year, or early 2011. County Commissioners unanimously approved the first stage of the rezoning process.
The last phase of the rezone is slated to begin December 2nd, 2010.
A more detailed description of the agreement with Roswell Capital Partners will be set forth in the AEHI’s report on Form 8-K to be filed with the SEC.
About Roswell Capital Partners -- Roswell Capital Partners, LLC, is a fund management company focused on private equity investments in small-cap publicly traded securities. Since 1994, its members have served in the Private Equity Markets as the Principal or Investment Banker for over 125 public companies.
About Alternate Energy Holdings, Inc. (http://www.aehipower.com/) -- AEHI develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral(TM), which removes energy demands from homes and businesses (http://www.EnergyNeutralinc.com/) Colorado Energy Park (nuclear and solar generation), and Green World Water(TM), which assists developing countries with nuclear reactors for power generation (http://www.GreenWorld-H2O.com/), production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power.
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "expect," "anticipate," "project," "target," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events, including our ability to list on a national securities exchange. These statements are based on the beliefs of our management as well as assumptions made by and information currently available to us and reflect our current view concerning future events. 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. Such risks and uncertainties include, among many others: our significant operating losses; our limited operating history; uncertainty of capital resources; the speculative nature of our business; our ability to successfully implement new strategies; present and possible future governmental regulations; operating hazards; competition; the loss of key personnel; any of the factors in the "Risk Factors" section of our Annual Report on Form 10-K for the most recently completed fiscal year; and any statements of assumptions underlying any of the foregoing. You should also carefully review the reports that we file with the SEC. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law.
Alternate Energy Holdings Will Likely Benefit From November Elections, Global Energy and Water Crisis, Says WallStreetCorner.com
BOISE, Idaho, Oct 25, 2010 (GlobeNewswire via COMTEX) --link
Alternate Energy Holdings, Inc. (otcqb:AEHI) (www.aehipower.com), which develops and markets innovative clean energy sources, is "positioned to be a successful emerging growth company because after the November elections, the next U.S. Congress, newly-elected governors and state legislatures are predicted to be more favorable to helping the U.S. nuclear power sector grow, ushering in a new pro-nuclear power era. The global scarcity of water and energy is another reason why AEHI will certainly prosper and prove to be a winner in the years ahead," stated Larry Oakley, Editor and Publisher of WallStreetCorner.com (www.WallStreetCorner.com) in a special situation column, "Larry Oakley's Comment," published today. The South Carolina-based international investment newsletter is distributed to investors in 96 countries.
"AEHI, based in Boise, Idaho, is the nation's only independent nuclear power plant developer seeking to build new power plants in non-nuclear states. The company's plans bode well for the nuclear power industry. Our government has become quite favorable to expansion of nuclear energy. With the November elections coming soon, both Republicans and Democrats in the House and the Senate want to put forth their approval of power from nuclear plants. I see a rather strong shift to nuclear power. There has also been a new wave of investor interest in companies associated with nuclear power. AEHI, in my opinion, will profit greatly from the present awareness of the advantages of nuclear energy," stated Oakley.
On a global basis, Oakley discussed the company's Green World Water(TM) subsidiary (www.GreenWorld-h2o.com), which is marketing the world's first large commercial nuclear desalination reactor produced in China that have the ability to create large amounts of clean water and power simultaneously to meet the needs of entire communities. He cited a recent UN report indicating that shortages are already beginning to slow economic growth everywhere from California and China to Australia and India.
Oakley noted that AEHI's CEO Don Gillispie views the global crisis as "bringing opportunities for companies like AEHI. The innovation and ingenuity of the private sector can solve this looming global problem -- and make money for investors."
Regarding the company's shares, Oakley stated: "I was really upset when I saw the illegal shorting of AEHI shares incited by lies in a publication. One of my greatest concerns is the hateful things some shorters engage in to artificially make a stock's share price go down so they can make more money when they cover their shorts. Fortunately, a highly respected news source, Pinnacle Digest (www.pinnacledigest.com), came to the rescue." In his column, Mr. Oakley provided excerpts of Pinnacle's investigative report on AEHI, which takes a very strong and positive position about the future of AEHI. As examples:
-- "To be frank, we've never come across a public company of its kind. Imagine an independently-owned power producer using nuclear and renewables to offer affordable energy solutions at a time when some of our biggest producers of power are dwindling due to environmental concerns. Because of its independence, AEHI has the potential to raise the money to build plants; they do not have to rely on rate payers, which only increase the cost of power. It's an investment opportunity we wanted to be involved with upon completing our due diligence.
-- "Our crew thoroughly investigated AEHI and every person on AEHI's Board of Directors. By the way, so has the U.S. Government (as all of these people have worked prominently in the nuclear industry) and so have many international governments; many that have an interest in the work AEHI is accomplishing with renewable energy, nuclear power, mini reactors and nuclear desalination. Just look at the pedigree of one of its management team."
-- "With over 45 years of experience in construction, operations and maintenance of nuclear power plants, AEHI's CEO, Don Gillispie, is someone we were willing to bet on when we invested in this company."
Oakley pointed out in his column that AEHI's nuclear power plant, to be built in Payette County, Idaho, has "the personal approval of 80 percent of the population in the area." He also noted the U.S. Nuclear Regulatory Commission has officially recognized the plant, which is expected to be operational in 2018.
"AEHI is headed for a very positive growth spurt. The company [plans to] build the first independent nuclear plant -- the rest have all been built and operated by utilities, which are regulated [by state utility commissions regarding cost of power]. An independent nuclear plant of say 3,000 megawatts capacity, like the one planned by AEHI, would not be regulated. AEHI's plant might well have annual pretax profits in the $3 to $4 billion range. Multiply that by future additional plants and the numbers get interesting."
Note: The views expressed by Mr. Oakley are his own and he has never received any compensation from AEHI.
About Alternate Energy Holdings, Inc. (http://www.aehipower.com) -- Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral(TM), which removes energy demands from homes and businesses (http://www.EnergyNeutralinc.com), Colorado Energy Park (nuclear and solar generation), and Green World Water(TM), which assists developing countries with nuclear reactors for power generation (http://www.GreenWorld-H2O.com), production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power.
The Alternate Energy Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8058
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "expect," "anticipate," "project," "target," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events, including our ability to list on a national securities exchange. These statements are based on the beliefs of our management as well as assumptions made by and information currently available to us and reflect our current view concerning future events. 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. Such risks and uncertainties include, among many others: our significant operating losses; our limited operating history; uncertainty of capital resources; the speculative nature of our business; our ability to successfully implement new strategies; present and possible future governmental regulations; operating hazards; competition; the loss of key personnel; any of the factors in the "Risk Factors" section of our Annual Report on Form 10-K for the most recently completed fiscal year; and any statements of assumptions underlying any of the foregoing. You should also carefully review the reports that we file with the SEC. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Alternate Energy Holdings, Inc.
Oakley's comments:
(http://www.wallstreetcorner.com/daily.html)
(Note: this link is renewed frequently and may not reflect the text quoted below)
A company like Alternate Energy Holdings that has the plans, top experienced management, the land set aside, & the agreement of the local community to build a major Nuclear Power Plant is headed for a very positive growth spurt. That’s due to the changes in the House of Representatives expected in the November elections; to the desire to reduce dependence on foreign oil; & to the need to give manufacturing a better way to prosper.
The global scarcity of water & energy is another reason why AEHI will certainly prosper & prove to be a winner in the years ahead – it has designed a nuclear powered unit to convert sea water as well as any other source to absolutely drinkable water as well as producing the electric power needed to pump the drinkable water hundreds of miles from the source of sea water, as an example.
I’ve been covering AEHI in editorials & in an Investigative Report titled “All About Nuclear Energy” in the September issue of my Conservative Speculator newsletter that you can get with a simple request to AEHI’s IR firm – call David K. Waldman or John J. Quirk at 212-671-1020, or email them at aehi@crescendo-ir.com.
AEHI’s First Nuclear Power Plant
AEHI will build the first independent nuclear plant – the rest have all been built & operated by utilities, which are regulated. One of the disadvantages of such regulated plants is that their profits are limited by regulation. An independent nuclear plant of say 3,000 megawatts capacity, like the one planned by AEHI would not be regulated, as it would be if it were built & operated by a public utility. Not being regulated, AEHI’s plant might well have annual pretax profits in the $3 to $4 billion range. Multiply that by future additional plants & the numbers get interesting.
AEHI, based in Eagle, ID, is the nation’s only independent nuclear power plant developer seeking to build new power plants in non-nuclear states. The company’s proposed $10 billion commercial nuclear power plant, called Idaho Energy Complex, will be constructed on a 5,300-acre parcel in Payette County, Idaho that the U.S. Nuclear Regulatory Commission (NRC) has officially recognized. The plant is expected to be operational in 2018. The company’s plans bode well for the nuclear power industry. Our government has become quite favorable to expansion of nuclear energy. With the November elections coming soon, both republicans & democrats in the House & the Senate want to put forth their approval of power from nuclear plants. I see a rather strong shift to nuclear power. There has also been a new wave of investor interest in companies associated with nuclear power. AEHI, in my opinion, will profit greatly from the present awareness of the advantages of nuclear energy.
An independent study shows the proposed plant will have dramatic impact on the state & county economies & create thousands of jobs. In late July AEHI announced a purchase agreement on a new backup nuclear site; 6,000 acres adjacent to the primary site. On 10/14/2010, AEHI announced its plans to build a nuclear power plant in Payette County, Idaho will now enter the final local & state approval process. This comes on the heels of an announcement from Payette County that the process is moving forward.
The next step involves a public hearing before the Payette County Board of Planning & Zoning Committee. The remaining process could be finished as early as the end of the year.
"We are very excited to finish this process & I am confident in the technical findings. The Board of Commissioners already unanimously approved our petition during the first zoning phase & even indicated in their decision that the only project that could locate on the property in question is a nuclear power plant. I believe this speaks volumes about where this process will be in just a few months," said Don Gillispie, AEHI CEO.
Previous hearings were heavily weighted in favor of AEHI's plan, with at least 80 percent of those attending showing support for the building of a nuclear power plant. In fact every mayor in Payette County & the Payette Chamber of Commerce all wrote letters of endorsement for AEHI.
The numbers are very similar to a poll performed by the Nuclear Energy Institute; the most recent shows 84 percent of neighbors of current nuclear power plants hold a favorable impression of the local nuclear power plant).
Employment opportunities & overall revenue play key roles in many of these. During construction the Payette County Plant is expected to bring $5.3 billion to Idaho, which is about 10 percent of the State's gross domestic product. The project will create approximately 5,000 peak jobs, which average $60,000 during construction & over $80,000 during operations. The plant would have the latest generation of nuclear energy technology, which makes it totally safe.
The Energy Crisis & the Global Water Crisis
AEHI has the capability to substantially contribute to the solution of two important issues that face not only the U.S., but most other countries as well. Those issues are the Energy Crisis, & the Global Water Crisis.
The Energy Crisis: This crisis is caused by several trends, including those that adversely affect the world’s economic climate, & those that are political in nature. I’ll give you the U.S. version, because most of my readers are in the U.S., although many others reside in 96 other countries, most of which experience similar problems.
Less than one-third of U.S. electricity comes from emission-free sources. Most of our electricity in the U.S. is generated by burning fossil fuels, which produce sulfur dioxide, nitrogen oxides, & carbon dioxide, all of which result in serious environmental problems. Another obvious part of this crisis is our dependence on oil from foreign countries. That’s bad for three main reasons:
1. The cost of such oil is high, will get higher, & its availability is based on the political climate in the countries that sell us the oil, a climate that can easily change.
2. The world’s petroleum reserves are not nearly as high as those countries state. That’s actually pretty serious, because as the reserves continue to diminish, the price will increase, & availability may well begin to be more allocated to such countries as India & China, whose economies are growing at a rapid pace.
3. Having to count on foreign sources of oil for generating electric energy puts the U.S. in an undesirable position. It has already reduced the success of our economy compared to the growing economy of several other countries. To achieve economic growth in the U.S., we must bring back much of the manufacturing we allowed to leave this country. If we develop enough energy here in the U.S. at reasonable cost, & it is available to manufacturing plants, some of the manufacturing we lost to other countries could gradually be returned to this country, a step that would create jobs & rebuild our economy.
Our government is aware of all this, & has become quite favorable to expansion of nuclear energy. With the November elections coming soon, both republicans & democrats in the House & the Senate want to put forth their approval of power from nuclear plants. If the polls are correct, I see a rather strong shift to nuclear power. There has also been a new wave of investor interest in companies associated with nuclear power. AEHI, in my opinion, will profit greatly from the present awareness of the advantages of nuclear energy. If you want a rather detailed look at the nuclear industry, AEHI’s IR firm, Crescendo Communications, LLC, would be pleased to send you a copy of my 23-page September 2010 issue of Conservative Speculator which features my investigation titled “All About Nuclear Energy.” In it, I describe, for example, how safe nuclear plants are, & give you the short bios of AEHI’s management team. Call David K. Waldman or John J. Quirk at 212-671-1020, or email them at aehi@crescendo-ir.com.
The Global Water Crisis: Scarcity of drinkable water is probably right up there with energy. I read that “The World Water Forum” predicted that within 20 years, half the world’s population will be affected by water shortages, “with millions dying & increasing conflicts over dwindling resources.”
A recent UN report indicated that shortages are already beginning to slow economic growth everywhere from California & China to Australia & India. AEHI’s CEO Don Gillispie recently commented: “But the coming crisis is also bringing opportunities for companies. AEHI is a Boise-based company whose Green World Water™ subsidiary markets nuclear powered desalination systems produced by our supplier, China National Nuclear Corporation. The innovation & ingenuity of the private sector can solve this looming global problem -- & make money for investors.”
Gillispie added: “We anticipate that the desalinization reactor being developed by our Green World Water subsidiary will have the ability to create large amounts of clean water & power simultaneously. The GWW reactor should be able to process enough salt water from the ocean to provide clean water for up to 1,000,000 people per day, at an estimated cost of between 35 cents & 65 cents per cubic meter. Other sources such as coal, natural gas, & wind cost between $2 & $12 per cubic meter, with much less reliability & greenhouse gas emissions.
AEHI Was Under Attack
I was really upset when I saw the illegal shorting of AEHI shares incited by lies in a publication. One of my greatest concerns is the hateful things some shorters engage in to artificially make a stock’s share price go down so they can make more money when they cover their shorts.
Don’t get me wrong – I understand that shorting a stock is a valid activity – the problem occurs when some shorters tell vicious lies to achieve their gains. In my opinion, they should be put into jail right alongside those that have been convicted of murder, child molesting, & other bad crimes. I call what they do an act of terrorism, because they hurt large numbers of shareholders. AEHI was disgracefully attacked, which adversely affected its share price.
Fortunately, a publication named The Pinnacle Digest (www.pinnacledigest.com) came to the rescue. Here are excerpts from its investigative report on the AEHI illegal attacks. Pinnacle’s editors said that the article that caused an artificial drop in the share price used a series of extremely negative statements about AEHI & was clearly written with the intent of casting a dark cloud over a reputable company. Pinnacle stated that AEHI is a company it has followed very closely over the past two years with great intrigue, as the concept behind it could prove revolutionary in the energy business.
They commented in part: ”To be frank, we’ve never come across a public company of its kind. Imagine an independently-owned power producer using nuclear & renewables to offer affordable energy solutions at a time when some of our biggest producers of power are dwindling due to environmental concerns. Because of its independence, AEHI has the potential to raise the money to build plants; they do not have to rely on rate payers, which only increase the cost of power. It’s an investment opportunity we wanted to be involved with upon completing our due diligence.
“Our crew thoroughly investigated AEHI & every person on AEHI’s Board of Directors - & by the way, so has the U.S. Government (as all of these people have worked prominently in the nuclear industry) & so have many international governments; many that have an interest in the work AEHI is accomplishing with renewable energy, nuclear power, mini reactors & nuclear desalination. Just look at the pedigree of one of its management team.
“With over 45 years of experience in construction, operations, & maintenance of nuclear power plants, AEHI’s CEO, Don Gillispie, is someone we were willing to bet on when we invested in this company.
“Gillispie received his undergraduate degree in electrical engineering at Clemson University, where he graduated cum laude. He later completed the senior executive program at the MIT Sloan School of business. He served in a number of positions in the nuclear industry. He worked on the startup of Beaver Valley Unit 2 in Shippingport, Pennsylvania. He worked on the construction & startup of Duke Energy’s first three nuclear units at Oconee Nuclear Station in South Carolina. While working for Tennessee Valley Authority, Gillispie was involved in the construction, startup, & operations of three nuclear facilities. And while working with the Institute of Nuclear Power Operations he was a manager of engineering & director of restart respectfully for the turnaround of the Rancho Seco & Pilgrim nuclear power plants.
“Gillispie helped found a cornerstone program for the Institute of Nuclear Power Operations (INPO), which is the safety watchdog to all U.S. nuclear utilities. He also helped start up the Nuclear Management Corporation (NMC), a nuclear operating company in Wisconsin, which operated up to eight nuclear power plants with 5,000 employees. Incidentally, NMC was awarded best in class by Forbes.com in 2001. And as owner of Grace Glens, a private nuclear-technical management consulting company, Gillispie consulted with some of the largest nuclear utilities in the U.S., advising senior executives on commercial nuclear power operations.
“As part of a three-man executive team, Gillispie assisted in overseeing the 2007 reopening of Browns Ferry Nuclear Plant unit three in Alabama before moving to Idaho to be near AEHI's first nuclear project. Its reopening was attended by President George W. Bush. Would you say that’s an impressive background? We would.
“Full disclosure time: We are proudly bias when it comes to AEHI & own shares in the company. They also are a paid advertiser on PinnacleDigest.com. What does that mean? AEHI pays us a small cash fee to have their press releases featured on our website, in our newsletter & we further disseminate its news. In no way does AEHI being a paid advertiser require us to write this article. We are writing this article to defend a company from a negative, misleading report written about it. “As shareholders who clearly know much more about AEHI than the author of this unfortunate article, we felt compelled to write our side of the story. We’ve been following AEHI for roughly 2 years & researched it for over 6 months before buying a single share.
“Since the article was published it has gone viral on the internet & AEHI’s shares have fallen significantly. On October 4th AEHI’s shares hit a high of $0.86. Since the article was published that same day its shares have dropped as low as $0.64. It’s amazing what overly negative words can do to a company’s share value in a very short period of time. Due to the significant drop in share value, we managed to buy more shares in the company today at much cheaper prices than it has been trading at over the last few weeks.
“What we found very peculiar about the timing of this report was the dramatic short interest taken in AEHI in the weeks before it was published, building up on Sept 15th & then hitting almost 2 million five days before this report was released. Coincidence? We hope so.
“According to Cary Spivak, from the American Journalism Review, shorting stocks before negative reports are published is not a new practice. It all seemed perfect — except, that is, for Cuban's unconventional financing idea. The self-made billionaire proposed trading the stocks of companies that Carey investigated. Not only that, Cuban was going to short the stocks before the stories were posted, meaning he would effectively place market bets that the value of the stocks would plummet.
“Spivak reports, Adams “…helped launch the site last year, just eight years after federal prosecutors labeled him an associate of the Gambino crime family in New York. Adams, who was convicted for his role in a massive ‘pump and dump’ scheme involving penny stocks, is still on federal probation for his crime.
“AEHI is recovering from the articles’ damage, but this experience has increased the need to shine a spotlight on this issue. If proper, two-sided research is not conducted by some of these reporters, the damages to investors can be catastrophic. We’ll keep you posted on this unfortunate & costly situation. Thankfully, as we conclude this article, AEHI’s shares are mounting a comeback.
“One final note, & perhaps the most important: The CEO of AEHI has publicly stated that `Recent insider purchases & the fact that neither I, our CFO, board members, nor any officers who have day-to-day line responsibilities for running the company have sold a single share since the Company’s inception speak to our strong confidence in the outlook for the business.’ He went on to state `Near-term, we anticipate two important catalysts for our business: the anticipated final local approval of our nuclear power plant site in Payette County; & the potential sale of a nuclear desalination plant to one or more overseas buyers.’”
My Opinion
This is one of the most exciting emerging growth companies that I’ve been exposed to in the last 25 years. In my opinion, this situation should be a part of your portfolio. Here’s some of what impressed me:
1. It plans to build a full size nuclear power plant in Payette County, Idaho. It has the personal approval of 80 percent of the population in the area. This would be the first nuclear power plant that would be built by an independent company, as opposed to all others that have been built by public utilities.
2. The plant would have the latest generation of nuclear energy technology, which makes it totally safe.
3. Management plans to follow that first plant with others in states that need the many advantages that a local nuclear plant will provide.
4. The profit potential of AEHI is extremely substantial.
5. AEHI created a subsidiary called Green World Water that has nuclear powered desalinization reactors produced by its supplier China National Nuclear Corporation for converting sea water into palatable water for drinking & growing fruits & vegetables. The key is that nuclear power allows it to be done at very low cost.
I believe that this special situation is one that will do as well as any of the really successful situations that I have followed during the past several decades. In my opinion, it could easily outperform Microsoft, Intel, & any others that you may wish to mention. I suggest that you do your own homework on AEHI – it will be well worth your effort.
AEHI will build the first independent nuclear plant – the rest have all been built & operated by utilities, which are regulated. One of the disadvantages of regulated plants is that their profits are limited by regulation. An independent nuclear plant of say 3,000 megawatts capacity, like the one planned by AEHI would not be regulated, as it would be if it were built & operated by a public utility. Not being regulated, AEHI’s plant might well have annual pretax profits in the $3 to $4 billion range. Multiply that by many future additional plants & the numbers get interesting.
Building such plants in several states is a very attractive part of AEHI’s plans, & another equally attractive part of its plans is the use of nuclear power to desalinize sea water. One local such application is based on the fact that the Western U.S. states rely on fresh water to grow their agriculture industry. The problem is that the amount of water required has been growing faster that the sources can provide, so desalinization is the obvious answer.
What I used in my California water treating company was ok for very small operations, but was not at all suitable for agricultural use. The obvious way to get sufficient water for agriculture is from sea water, but all methods so far have been too costly. When nuclear power is used, however, the cost plummets to a level that is low enough to be used almost anywhere in the world.
AEHI, through its Green World Water™ subsidiary, is developing sources of plant equipment & funding for nuclear desalinization & brackish water purification operations & has already been accelerating its entry into that lucrative new industry. One of the most promising aspects of its discussions with many foreign nations that need sea water desalinization is the fact that such installations have the ability to not only do the desalinization, but can produce electric power as well, one use being the power to pump the resulting desalinized water hundreds of miles to where it is needed. Here is a comparison that demonstrates how AEHI’s technology compares with the other existing methods of seawater desalinization:
Coal powered 1100 megawatt plants cost about $4 billion, process about 400,000 cubic meters of water at a cost of about $2.00 per cubic meter, have an expected lifespan of about 40 years, & produce about 6 million metric tons of carbon emissions per year.
Natural gas plants cost about $3 billion & process the same amount of water at a cost of about $7.30 per cubic meter, will last about 30 years, & produce about 3 million metric tons of carbon emissions per year.
Wind powered plants cost about $6 billion & process only about 45,000 cubic meters of water at a cost of about $12.50 per cubic meter, & get carbon credits.
Green World Water™, an AEHI subsidiary, can sell a plant that costs $3 billion, processes 400,000 cubic meters of water per day at a cost of about $0.35 per cubic meter, will last about 60 years, & in addition, produces 700 megawatts of electrical power, & like wind, gets carbon credits rather than creating pollution.
I strongly suggest that you seriously look into this emerging growth situation. Do some investigating on your own – this company has the ideas, the technology, the strong management team, the funding, manufacturing sources, & everything else required to make its two main operations successful, especially in this era of economic difficulty.
In my opinion, AEHI might cash in on this deal....
OHAKIM SIGNS MOU ON NUCLEAR POWER GENERATION, OTHERS
I found these details particularly interesting "The good thing about this technology of nuclear modular reactor is that it is a short time measure that you don’t require fuel until after seven years of its use and it can be deployed primarily to energy spots....would require between five and 20 megawatts....It is an on-the-spot technology; it does not require transmission lines and America has done wonderfully well in this area of technology development"
Sounds a lot like the Hyperion SMR.
And Nigerian desalination needs appear to be non-existent.
Per this data (circa 2003), Nigeria is using less than 2% of its available fresh water resources (note data for 'Withdrawals as a percentage of actual renewable water resources'). What they do need is water supply infrastructure, such as treatment facilities and distribution systems.
What about their growing need for power? Actually, they are wasting far more power than a reactor could provide. Again, some investment in gas collection and distribution plus a few relatively cheap (and highly efficient) combined cycle gas turbine generating facilities would be the logical path forward.
Unfortunately, AEHI may be several days late and a few billion dollars short in Nigeria:
Russia And Nigeria Sign Nuclear Co-operation Agreement
by Thomas Cheplick Jul 20 2009
Russian and Nigeria have moved ahead on co-operating on building a nuclear power plant in Nigeria. Representatives of Gazprom and the Nigerian government signed a nuclear cooperation agreement on June 25th in the Nigerian city of Abuja. Russia wants to build a nuclear power reactor in Nigeria and also be granted authority to find uranium in the country.
Sergei Kiriyenko, the head of Rosatom, the Russian nuclear energy agency, said that Russian will have prepared an initial proposal to construct a nuclear power plant in Nigeria by the end of 2010.
"We are definitely interested in uranium," Kiriyenko added. "They surely have much uranium."
The Russian-Nigeria nuclear co-operation agreement actualizes the creation of a new joint company called Nigaz Energy Limited. 50% of Nigaz will be owned by Nigeria and the other 50% by Gazprom.
Gazprom will invest $2.5 billion into the company.
Hopefully, they will consider re-naming the project.
Alternate Energy Holdings to Market Nuclear Desalination Reactors in West Africa
BOISE, Idaho, Oct 11, 2010 (GlobeNewswire via COMTEX) -- Alternate Energy Holdings, Inc. (otcqb:AEHI) (www.aehipower.com) today announced that its Green World Water(TM) (www.greenworld-h2o.com) subsidiary has opened an office in Lagos, Nigeria, to market nuclear-powered desalination reactors throughout West Africa. Green World Water's product supplier is China National Nuclear Corporation, the largest state owned nuclear company in China.
According to Don Gillispie, AEHI CEO, "The new office will be managed by Tim Akano, who is currently managing director for New Horizons Nigeria, a New Horizons World-Wide franchise in Nigeria, West Africa. Mr. Akano plans to introduce this technology to the Nigerian President among other government officials in West Africa.
Gillispie explained that Green World Water's goal in Nigeria and throughout West Africa will be to provide reliable electricity and clean water to the populace. "President Jonathan Goodluck's Nigerian administration has stated its determination to implement nuclear power," said Gillispie. "This is also in line with the thinking of the nation's Atomic Energy Commission (NAEC). NAEC Director General, Dr. Erepamo Osasai has a ten-year plan to generate 1000 megawatts of electricity into Nigeria's grid (The Guardian newspaper 6th October 2010)."
UNICEF reports that more than 70 million Nigerians do not have access to clean water. Nearly 100 million people have no latrines or toilets. The lack of proper sanitation means that waterborne diseases like typhoid, guinea worm, cholera, malaria, and diarrhea can easily spread (http://www.mediaglobal.org/article/2010-03-04/nigerian-government-takes-action-against-water-sanitation-crisis).
About Alternate Energy Holdings, Inc. (http://www.AlternateEnergyHoldings.com) -- Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral(TM), which removes energy demands from homes and businesses (http://www.EnergyNeutralinc.com). AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power.
The Alternate Energy Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8058
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "expect," "anticipate," "project," "target," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events, including our ability to list on a national securities exchange. These statements are based on the beliefs of our management as well as assumptions made by and information currently available to us and reflect our current view concerning future events. 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. Such risks and uncertainties include, among many others: our significant operating losses; our limited operating history; uncertainty of capital resources; the speculative nature of our business; our ability to successfully implement new strategies; present and possible future governmental regulations; operating hazards; competition; the loss of key personnel; any of the factors in the "Risk Factors" section of our Annual Report on Form 10-K for the most recently completed fiscal year; and any statements of assumptions underlying any of the foregoing. You should also carefully review the reports that we file with the SEC. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Alternate Energy Holdings, Inc
I wouldn't worry too much about the StreetSweeper site. Per WHOIS, they aren't getting many hits, <800/day. That may spike temporarily, but they're hardly a force to be reckoned with at this juncture. This iHub post sheds a bit more light on The Street Sweeper's raison d'être.
AEHI puts out another factual PR:
Not much meat here, but at least it's factual.
You should take a closer look at my posting, stockresearcher45. Be sure to click on the Hunter Adams link. It contains a fairly balanced account of Ms. Davis and the business she's in. Makes for an interesting read. (As does the recent history of iHub.)
So who's behind Melissa Davis???
Hunter Adams?
And exactly who is Timothy Sykes?
He seems to have made his nut by betting a stock will tank. Seems an unholy alliance, IMHO.
thestreetsweeper.org
Don seems overly optimistic on the timeline, IMO.
Let's see what Hyperion has to say on the matter...
"Initial deliveries, slated to begin in the second half of 2013, are being scheduled."
For those keeping tabs on Hyperion, here's a recent interview with their VP. She says that they'll be meeting with the NRC tomorrow to discuss how the Commission might begin regulatory review of the Hyperion design.
Publicity Hound Cries Crocodile Tears?
Let's see now... The Hyperion mini-reactor isn't even a functional prototype yet. And a normal-sized reactor takes, at best, 5-6 years to construct after all necessary permits and financing are obtained. These people need help now. By the time a nuclear desalination plant got up and running, it might well be operated by the Taliban (or maybe the Indian occcupation forces).
Still $4 for NASDAQ, $2 for AMEX. Uplisting is just a descriptive term for a move by AEHI from the OTC exchange to a senior market.
$4/share is still the minimum for initial listing. $1/share is the minimum bid to avoid being delisted.
Well, the thresholds for Nasdaq seem insurmountable at this point. Even if some Chinese entity wanted to build a power reactor here and paid AEHI to grease the skids, I don't see how all the listing requirements could be met near-term. AMEX seems a better bet.
A signed , revenue-producing contract would help.
Fluff PRs and MOUs are all I've seen so far. They may get new investors aboard, but they won't get the share price to hold above the minimum required for listing. But don't get too hung up on share price (unless you're a day trader); that's not the only requirement to get listed. In NASDAQ's case, a company must meet all of the criteria under at least one of the following standards.
Listing Standard No. 1
The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the prior two years at least $2.2 million, and no one year in the prior three years can have a net loss.
Listing Standard No. 2
The company must have a minimum aggregate cash flow of at least $27.5 million for the past three fiscal years, with no negative cash flow in any of those three years. In addition, its average market capitalization over the prior 12 months must be at least $550 million, and revenues in the previous fiscal year must be $110 million, minimum.
Listing Standard No. 3
Companies can be removed from the cash flow requirement of Standard No. 2 if the average market capitalization over the past 12 months is at least $850 million, and revenues over the prior fiscal year are at least $90 million.
It seems obvious to me that a NASDAQ listing won't be happening any time soon. 2-3 years, minimum, assuming AEHI starts racking up a solid revenue stream right now.
What about AMEX?
AMEX's standard 2 says the company must have a stock price of at least $3. However, the company does not have to meet income requirements (Standard 1 requires $750,000 in pre-tax income in the two most recent fiscal years). Therefore, a company can make any amount of money to gain listing on the AMEX as long as it meets the other criteria in standard 2. In addition, its public float must be at least $15 million with at least $4 million in shareholder equity. Shareholder equity is the net worth of the company--that is, the difference between assets and liabilities. Lastly, AMEX requires companies to provide at least two years of operating history.
Standard 3
Under this standard, the company needs to meet a minimum of $50 million in market capitalization. Market capitalization refers to the market price of the entire company. This is calculated by multiplying the number of shares in investor hands by the market price of the stock. Similar to standards 1 and 2, the company must meet a minimum $15 million market value public float and a minimum of $4 million in shareholder equity. Lastly, its share price must be at least $2. This would probably be the path of least resistance for AEHI, assuming that they can cough up $4 million in assets without assuming any liabilities. So if each and every public investor sends AEHI 2.5 cents for each share you hold, maybe they'll pull it off. Any volunteers for campaign chairman?
AEHI not mentioned by SRS
Nuclear reactor at SRS in works
Savannah River National Laboratory plans to build a small modular nuclear reactor at Savannah River Site with the help of a private energy firm, officials announced Thursday.
The partnership with New Mexico-based Hyperion Power would be a first step toward the site's goal of becoming a multi-reactor energy park, and the technology produced could help the U.S. decrease its dependence on foreign oil, officials said at a news conference to announce the venture.
"This is the first step -- a rather small step but an extremely important step," said Mike Navetta, manager of energy park initiatives for Savannah River Nuclear Solutions.
Officials hope to have the reactor completed and deployed by 2020. The construction and operation of the reactor could create several hundred jobs, said Pete Knollmeyer, vice president for strategic planning at Savannah River Nuclear Solutions.
The design and licensing processes take several years each and construction could take an additional three to four years, he said.
The reactor will cost between $150 million and $200 million to build, Navetta estimated. Most of the money will come from private funds, he said.
A project of this size would normally be closer to $1 billion, but the cost is considerably less because of existing materials and facilities at Savannah River Site, Navetta said. The small modular reactors can produce enough energy to power a U.S. military base or large government complex when connected to a system that generates electricity.
"This reactor will produce power, but it produces much more than power," Knollmeyer said. "It allows the production of hydrogen and supports the production of high-quality synthetic fuels -- transportation fuels that will help wean us off our dependence on foreign oil."
Knollmeyer said the key is improving lower grade biofuels such as ethanol.
"The way you upgrade them is by adding hydrogen and making longer-chain hydrocarbons," he said. "You need a cheap source of hydrogen and that is the beauty of these reactors. They bring you a cheap source of hydrogen so now you have an economical way of upgrading biofuels into synthetic fuels and that's what breaks us from foreign oil."
The reactor would run using uranium nitride fuel, Navetta said.
"This is a fuel that is very stable at high temperatures for long periods of time," he said. "It's a rather innovative fuel design that has the stability and refractory properties we need."
The site will use Department of Energy authority to operate initially while pursuing licensing with the Nuclear Regulatory Commission, Navetta said. An NRC license must be granted before the technology can be used commercially, said Roger Hannah, a spokesman for the organization in Atlanta.
He said the project's design would have to be certified and then an application must be approved for a reactor's use at a location.
Hyperion and Savannah River Site Announce Partnership on a Small Modular Reactor
"The Hyperion power module developed at SRNS can be plugged into small villages around the world. To provide electricity, purify water and help elevate the standard of living for those people." said Dr. Terry Michalske
According to WJBF-TV in Augusta Georgia, Savannah River Site and Hyperion are in discussions to develop a small modular reactor at SRS. During a press conference Thursday Savannah River Nuclear Solutions announced they are taking the first steps to transform America's energy of future, and that Dr. Terry Michalske will be the new laboratory's new leader.
In a partnership with Hyperion power, the plan is to install a Hyperion Power Module to Savannah River site.
"The Hyperion power module developed at SRNS can be plugged into small villages around the world. To provide electricity, purify water and help elevate the standard of living for those people."
Local businesses leaders attended the conference and were happy hear the news.
The projected time frame of the project will be about 10 years. If all goes well, it will bring hundreds if not thousands of new jobs to the C-S-R-A.
"The types of job were proposing to deliver, extend beyond the site, more than just the science and technology jobs. To me, the most important part is this is a way to get Americans back to work manufacturing and help solve some of the economic goals that we have in this country," said Mike Navetta.
Many in Aiken agree that the country needs to do something about its dependency on oil and supports the site's effort to develop nuclear energy.
Float is 168,176,948 shares.
Does anyone else think it odd
that Jeffery Don's C3 China Consultants' address is given as Eagle, Idaho (AEHI's base), when the company is actually based in Beijing per C3's website?
Things that make you go 'hmmmmmm'.
The Epik deal may pre-date the 4/20/10 Dalian PR
by at least 4 months per this page's last update (see last paragraph and footer).
Haven't seen this at AEHI website yet...
EPIK USA signed a sales representation agreement with AEHI CHINA LTD., a joint venture company between Dalian Shipbuilding Industries Corporation, a premier Chinese heavy industry company and one of the largest industrial companies in the world, known for its marine fresh water generation, chemical industrial equipment, offshore pressure vessels and construction of large steel structures and AEHI, a US alternative energy company with technical know how to construct commercial nuclear reactors on oceanfront sites in order to co-generate clean energy and desalinated water. Recognizing the growing need for reliable, affordable electricity in underdeveloped nations, the company believes that the technology of advanced nuclear plants can be used to address these energy needs while simultaneously producing fresh water from these plants’ ocean intake.
Core company business includes;
Nuclear Energy Equipment
Sea Water Desalting Equipment
Offshore Equipment
Boiler & Pressure Vessel
Large Industrial Equipment
Wind Power Equipment
Building Steel Structure
Environmental Protection Equipment
EPIK USA link
(Sorry, couldn't find a date for this item.)
Further reading from the same source:
Barker: The next INL should focus on new energy sources
Copyright: © 2010 Idaho Statesman
The Brookings Institution is calling for the development of a network of energy innovation centers across the West.
In a report released last week, "Centers of Invention: Leveraging the Mountain West Innovation Complex for Energy System Transformation," the Washington think tank urged the federal government to consider a network of federally funded, commercialization-oriented sustainable energy research centers.
These centers, much like one a group of energy executives suggested in Boise in 2009, would be hybrids of the national laboratories of the 1940s and 1950s. But instead of aiming at nuclear weapons development, these "energy innovation hubs" would seek to develop next energy technologies to transform our energy system to reduce its carbon intensity and make clean energy cheap.
"We think we need a true clean-tech energy mission connected to the private sector," said Mark Muro of the Brookings Institution.
The six centers would be focused on solar energy, advanced biofuels, integrated smart-grid technology, geothermal research and commercialization, carbon capture and sequestration research, and nuclear energy.
The study also pulls from the land-grant university model, calling for the involvement of the region's research universities and national labs and invoking strong participation from industry, entrepreneurs and investors as well as state and local government. Brookings cites the Center for Advanced Energy Studies, a university-lab-industry partnership that joins Idaho's three major universities with the Idaho National Laboratory in research and development, commercialization, and research into nuclear power, bioenergy, and advanced fossil fuels.
The goal of the report is to get the federal government investing in transforming the economy. Even conservative economists support federal funding for research and development, Muro said.
The centers could be anywhere with connections to all of the major universities and existing labs and energy entrepreneur centers, like Boise, Muro said.
"We see Idaho participation around geothermal research or carbon capture technology and you have this massive nuclear presence," he said.
link
Strictly FYI:
Chinese company officials meet with leaders of Idaho, energy firms.
Submitted by Rocky Barker on Thu, 09/02/2010 - 12:27pm
Officials of the China National Machinery Industry Corp. met this week with Idaho state, utility and industry officials to show off their ability to design, build and maintain everything from power plants to high transmission lines.
The Chinese-government owned company, called Sinomach for short, is itself a sign of the growing economic and industrial strength China now projects worldwide. For Sinomadch the American West provides many of the same opportunities it already has tapped in places like Africa, India, Pakistan, Indonesia and even Iran.
Sinomach, is China’s third largest contractor with more than $14 billion in sales last year. Jeff Don, President of C3 of Eagle arranged the delegation's visit.
They talked to Idaho Power Co. and Rocky Mountain Power and the Mountain States Transmission Project about building the major transmission lines the two utilities have planned. They also talked with several other Idaho energy and manufacturing companies about projects ranging from coal-gasification, nuclear power to turning biogas into power.
Zhang Chun, director general of the company told state officials the United States represents a big market for Sinomach and that he was happy to get a chance to meet with the companies, arranged in part by Paul Kjellander, director of the Idaho Office of Energy Resources.
The visit underscores the changing face of energy development in Idaho, as well as the interest Chinese companies have in both business and investment here. China’s ability and interest to project itself economically worldwide is remarkable similar to the United States at the turn of the 19th Century.
link
One PR that got overlooked...
probably deservedly so.
Alternate Energy Holdings' Nuclear Power Plant Endorsed by Payette Chamber of Commerce
BOISE, Idaho, Sep 2, 2010 (GlobeNewswire via COMTEX) -- The Payette Chamber of Commerce today announced its official endorsement of Alternate Energy Holdings, Inc. (OTCQB:AEHI) and the company's plan to build a nuclear power plant in Payette County, Idaho.
Over the past year the Chamber and its members have become keenly aware of AEHI and of how the company's endeavors will enhance and improve business and job opportunities in Payette County.
"Nuclear power has proven itself as one of the safest, cleanest and most reliable sources of energy in the world. It is also a tremendous source for jobs, something we desperately need in Payette County. Our unemployment rate currently surpasses the state average and AEHI's proposal would bring thousands of new jobs into our community -- high paying positions that will increase employment opportunities even outside the power plant," said Shelley Creson, Executive Director of the Payette Chamber of Commerce.
"A business like AEHI is exactly what we need in Payette and by extension Payette County. It is the same reason I put my support behind this company. In my opinion, AEHI's leadership is steeped in nuclear power, with people who spent their entire careers in the nuclear industry. They have built and maintained power plants around the nation and I look forward to them bringing that same success to our community. As they succeed, so will our county and the people who live in it," said Jeff Williams, Chamber member and Mayor of Payette.
The Chamber and its members are confident in AEHI's success and look forward to the local approval process, which the Chamber believes will result in a positive result for the company, its shareholders and the people who live in Payette County.
AEHI joined the Payette Chamber of Commerce in early 2010 and has remained an active member since that time.
link
NRC to Enhance Small Modular Reactor License Review Framework
nuclearstreet.com
Acting on an initiative advanced by Commissioner George Apostolakis and Chairman Gregory B. Jaczko, the Nuclear Regulatory Commission has taken steps to further improve the licensing reviews of potential applications to license small modular reactors (SMRs).
Commissioners Kristine Svinicki, William Magwood and William Ostendorff concurred in the proposal that directs the NRC staff to produce a plan within six months on how to more fully integrate the use of risk insights into pre-application activities and the potential review of small modular reactor applications.
"There is considerable interest in SMRs. The power level of these reactors would be significantly lower than that of existing reactors. Risk insights from PRAs could help focus resources on the most risk-significant aspects of a SMR design and enhance the safety focus of review guidance in the near term." said Apostolakis.
Jaczko added, "It is important that the NRC work to take steps to be even better prepared to conduct safety focused and effective reviews of potential applications. I appreciate the initiative that Commissioner Apostolakis has shown in this area."
The NRC is currently reviewing 13 COLs for larger pressurized and boiling water reactors. In addition, in recent years there has been an expanding degree of interest expressed in pursuit of design certification, a manufacturing license or a COL for smaller reactors. Reactor vendors are now working on several designs, including for pressurized water reactors and sodium-cooled fast reactors. The Department of Energy's advanced reactor program is placing increased emphasis on molten salt reactors. Domestic utilities are discussing plans to install SMRs, and the Department of Defense is studying the feasibility of using SMRs to power critical military installations.
The NRC has a long-standing policy of encouraging greater use of risk information in its regulatory programs and processes. Examples of valuable risk-informed initiatives include the Reactor Oversight Process and the in-service inspection of reactor piping.
Correction re previous post:
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