Alternative Energy Technology, Inc. Submits Information Disclosure Document (Form 15c-211) and Discloses Letters of Intent to Purchase Several Technology Companies
Wednesday August 13, 1:47 pm ET
HOUSTON--(BUSINESS WIRE)--Alternative Energy Technology, Inc. (PINK SHEETS:ATNE - News) is pleased to announce the submission of Information Disclosure Document (Form 15c2-11) dated August 12, 2008 to market makers. Approval of Form 15c-211 allows ATNE.PK to be listed on “Pink Sheets Current Information”, as opposed to the Grey market, making the Company’s stock more attractive to potential investors. In addition, ATNE has executed letters of intent to acquire all the issued and outstanding shares of Cascade Gas Separation Systems, Inc., Pacesetter Chemicals and Intermediates, Inc. and Frederic-Ernest Agricultural Group, Inc. as a “fast track” in escalating the company’s commitment to its original business model.
The Alternative Fuels business model of ATNE is structured around the development and deployment of completely Fleet Mobile Vertically Integrated Biorefining Units to meet the transportation fuels needs of the country on a regional basis placing the process equipment in close proximity to cellulosic biomass resources. The integrated proprietary technologies in these units allow ATNE through its anticipated subsidiaries to emulate the process and product streams on a basis similar to that of traditional petroleum refining and/or chemical units. The Company has renewed its commitment to its accelerated business model based on the following:
First, is the renegotiation, execution and ratification of the Meridian Biorefining Technology License for cellulosic biomass processing, which includes simultaneous reduction of biomass within the micro and nano scale particle range with simultaneous separation of lignin through a Catalyzed Esterification process and further processing of the lignin into high value products including gasoline and gasoline additives.
Second, in its commitment to sustainable vertically integrated biorefining technology delivering multiple product streams on an expanded basis. ATNE has executed Letters of Intent to acquire all issued and outstanding shares of Pacesetter Chemicals and Intermediates, Inc., Cascade Gas Separation Systems, Inc. and Frederic-Ernest Agricultural Group, Inc. A brief description of each of these business enterprises and their technologies is as follows:
Pacesetter Chemicals and Intermediates, Inc. (PCII) – holds the exclusive license to proprietary process intensification technologies developed using Cascaded Selective Molecular Rejection Gas Separation Systems. This technology provides a platform for the catalytic conversion of nano and micro scale range cellulosic biomass particles into various chemical and intermediate compounds, which are then selectively separated in cascaded reactors on a continuous flow basis. This system has the capability to convert cellulosic biomass into a wide range of high value compounds.
Cascade Gas Separation Systems, Inc. (CGSI) – holds the exclusive license to proprietary process intensification technologies, which allow the separation of various gasses and other high value compounds through a series of Molecular Rejection Gas Separation Centrifuge Reactors. This system is specifically well suited to the separation and removal of contaminant gasses from production hydrocarbon gas streams in the oil and gas industry as well as for the processing of gas produced from landfill projects.
Frederic-Ernest Agricultural Group, Inc. (FAGI) – holds the exclusive license to proprietary process intensification technologies and equipment design development, which provide for the capability for the processing of cellulosic biomass in the field. FAGI is the experimental process intensification platform for the further development of fully field mobile equipment that takes the processing of cellulosic biomass to the agriculture community. The company is also adapting a system for “technology matching” allowing specific cellulosic process technologies to be designed for use with varying requirements of a range of dedicated cellulosic biomass feedstock resources for higher yields and reduced logistics costs.
While a definitive agreement has not yet been established between ATNE, CGSI, PCI and FAGI, it is presently intended that ATNE will acquire all of the issued and outstanding shares of CGSI, PCI and FAGI, whereupon CGSI, PCI and FAGI will become wholly owned subsidiaries of ATNE.
All of the actions described in this press release were taken by ATNE's management and the Control stockholder in order to bring greater value to the company and all of its bona fide stockholders. Management and the Control Shareholder wishes to thank all bona fide shareholders for their support in the past and their continued support now and into the future.
About Alternative Energy Technology, Inc.
The Alternative Energy Technology, Inc. (PINKSHEETS: ATNE - News), based in The Woodlands, Texas, is a technology company focused on biofuels and alternative energy technologies. It is developing the first true vertically integrated cellulosic platform biorefinery in the United States. It will focus on renewable dedicated feedstocks from non-food energy sources, coupled with technologies scaled to efficiently address transportation fuels and energy needs of the United States. The Company’s integrated technologies platform provide the ability to convert cheap, abundant cellulosic plant material into a variety of transportation fuels and chemical products allowing ATNE to efficiently address a part of America’s energy needs. America’s energy future must be built on non-food related renewable fuels, produced at lower costs. ATNE’s vertically integrated biorefining technology delivers the answer to this pressing need.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information 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, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Contact:
Alternative Energy Technology, Inc.
Robert T. Kelly, Consultant, 214-500-7834
rtkelly.ATNE@gmail.com
