Press Release Source: Life Energy & Technology Holdings, Inc.
Life Energy & Technology Holdings, Inc. Receives USD$3.5 Million Net Profit
Wednesday March 3, 9:00 am ET
Alia Holdings, pays USD$3.5M, the second payment in a four payment schedule totaling USD$14M
FALLS CHURCH, Va.--(BUSINESS WIRE)--March 3, 2004-- Life Energy & Technology Holdings, Inc. (OTCBB:LETH - News; Deutsche Borse DE:LFT) has received its second payment on schedule from Alia S.A. Alia Holdings S.A., as part of the agreement signed in May, 2003 to purchase 48 Biosphere Process(TM) Systems from LETH today announced that they have received delivery of the second 12 Biosphere Process(TM) for a total of 26 Biosphere Systems and have paid a net payment of USD$3.5 million dollars to LETH. LETH is scheduled to receive an additional USD$7M, the balance on the complete USD$14M contract in the next 6 months.
Dr. Albert Reynolds, Chairman of Life Energy & Technology Holdings Inc., stated, "I am delighted that we have received this second payment and shipped another 12 Biosphere Process(TM) Systems; this brings to 26 the number of Biosphere Process(TM) Systems now in operation. Some of these Biosphere Process(TM) Systems have now been in continual operation for in excess of 24 months, clearly demonstrating the successful implementation of our technology in the marketplace. LETH hopes that this is just one of many successful partnerships LETH will have over the coming year around the world."
About Life Energy & Technology Holdings Inc.
Life Energy is rapidly becoming a leader in the environmental infrastructure and electricity co-generation markets. Life Energy's unique proprietary technology, EcoTechnology(TM)(a)(b), generates electrical energy through a profitable and environmentally safe process. The Biosphere Process(TM) System, a central part of Life Energy's EcoTechnology(TM), safely and efficiently processes traditional and non-traditional waste materials and/or traditional fuels into electricity and other beneficial by-products. The Biosphere Process(TM) assists in solving the global waste problem by converting into clean, green electricity such waste materials as: Municipal Solid Waste (MSW), agricultural wastes, forestry wastes, agricultural and industrial effluents, medical wastes, industrial wastes, used tires, sewage sludge, shale oil, sour natural gas and many other traditional and non-traditional waste materials.
Forward-Looking Statement
This release contains statements that constitute 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. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
(a) Biosphere Process & Biosphere are copyright trademarks of the Life Energy Partnership 1995 and the Company.
(b) EcoTechnology is a copyright trademark of the Life Energy Partnership 1995 and the Company.
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Contact:
Life Energy & Technology Holdings, Inc.
Dr. C.A. McCormack, 866-616-5433
drca@le-th.com
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Source: Life Energy & Technology Holdings, Inc.
