Environmental Power Corporation (EPGRQ)

[Golden Cross]

Environmental Power Chairman Briefs Legislators on Production of Renewable Natural Gas
Thursday June 1, 8:00 am ET
Joe Cresci Details Market Opportunities and Potential for Growth Facing Environmental Power and the Biomass Industry


PORTSMOUTH, N.H., June 1 /PRNewswire-FirstCall/ -- Environmental Power Corporation (Amex: EPG - News), a leader in the renewable biofuels industry, today announced that Chairman of the Board Joe Cresci has briefed the Subcommittee on Energy and Air Quality of the U.S. House of Representatives in a session titled, "Unlocking America's Energy Resources: Next Generation." Invited to speak on behalf of, and as a leader in, the biomass industry, Mr. Cresci outlined for the committee the opportunities and challenges that currently face the domestically produced renewable energy industry.
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Joined by representatives from GE Energy, Cummins, the National Renewable Energy Laboratory and other innovators in the energy industry, Mr. Cresci described for the House panel the business model, environmental impact, and energy production potential of the biogas production facilities being developed by Environmental Power's subsidiary, Microgy, Inc. Alluding to the 8-digester facility currently under construction in Huckabay Ridge, Texas, Mr. Cresci estimated that there is the potential, for the dairy industry alone, for "more than 150 Huckabay Ridge-sized projects in the United States, including more than 1,000 individual tanks, which would produce in excess of 81 billion cubic feet of RNG (renewable natural gas)." Mr. Cresci further stated that, taking into account other readily accessible markets, the aggregate energy production of potential biogas facilities in the United States could exceed 150 million mcf per year and that, in his opinion, its RNG would be competitively priced compared to projected prices for LNG imports.

Highlighting the complementary nature of EPC's digesters with ethanol production, Mr. Cresci told the subcommittee, "Our EPC digesters can be fueled with the byproducts of ethanol production, increasing both efficiency in the production of ethanol and reducing the wastes. EPC digesters can supply ethanol producers with RNG on-site, reducing reliance on conventional natural gas, imports of LNG, and even the infrastructure needed for natural gas transport."

Environmental Power's processing of animal waste to generate methane-rich biogas is both cost-effective and environmentally friendly. As Mr. Cresci informed the subcommittee, "Our technology and manure handling processes also significantly reduce greenhouse emissions, improve water quality, and dramatically reduce odors around animal operations."

The Chairman called for a private-public partnership and "simple parity" in incentive programs currently available to other renewable energy markets producers.

The transcript of this hearing is expected be available within 60-90 days of the conclusion of the hearing, and will be accessible via the Committee on Energy and Commerce's website: (http://energycommerce.house.gov/108/Hearings/05182006hearing1903/hearing.htm)

ABOUT ENVIRONMENTAL POWER CORPORATION

Environmental Power Corporation is a developer, owner and operator of renewable energy production facilities. Its principal operating subsidiary, Microgy, Inc., holds an exclusive license in North America for the development and deployment of a proprietary anaerobic digestion technology for the extraction of methane gas from animal wastes for its use to generate energy. For more information visit the Company's web site at http://www.environmentalpower.com .