Air Products and Alter NRG Sign JDA on Renewable Energy Projects
LEHIGH VALLEY, Pa., Feb. 4 / -- Air Products (NYSE: APD) and Alter NRG Corp. (TSX: NRG) today announced the signing of a Joint Development Agreement (JDA) to pursue renewable energy opportunities in North America and Europe. The non-exclusive agreement gives Air Products the right to license and incorporate Alter NRG's proprietary Westinghouse Plasma Gasification technology for use in renewable energy projects. Air Products will initially focus on developing energy facilities that will use various forms of renewable feedstock to generate syngas, a mixture of hydrogen and carbon monoxide, for power, heat or steam generation.
The agreement includes provisions for the two companies to collaborate on the integration of Alter NRG's plasma gasification technology with the balance of equipment, including Air Products' oxygen enrichment and syngas treatment technology, necessary to construct renewable energy facilities.
"We have been looking at various technologies that meet our renewable energy technology strategy and are pleased to enter into this JDA with Alter NRG. We believe our capabilities fit nicely with Alter NRG's and their gasification technology meets our requirements of being both sufficiently proven and of a scale suitable for industrial energy production. This agreement will help Air Products move towards its objective of providing sustainable energy by turning renewable feedstock into an energy generating solution," said Kevin Murphy, director, Gasification Business Development at Air Products.
Mark Montemurro, President and CEO of Alter NRG comments that, "Having Air Products as a strategic collaborator provides many benefits. As a Fortune 500 Company, they have the capability - both financially and operationally - to construct commercial facilities. As a leader in industrial gases, equipment, and engineering, they provide synergistic equipment and expertise to reduce overall operational and construction risk. The combination of the Westinghouse Plasma Technology with Air Products experience and operation capabilities provides for exciting opportunities ahead."
About Air Products
Air Products (NYSE:APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment. Air Products has annual revenues of over $10 billion, operations in more than 40 countries, and 21,000 employees around the globe. For more information, visit www.airproducts.com.
About Alter NRG
Alter NRG is pursuing alternative energy solutions to meet the growing demand for environmentally responsible energy in world markets. The Company's vision is to be a senior energy producer by becoming the world's leading supplier of plasma gasification technology and developing environmentally sustainable and economically viable gasification projects. The Company's objective is to further commercialize the Westinghouse Plasma technology, a wholly owned subsidiary, to provide renewable and clean energy solutions from a wide variety of feedstock, and providing a wide variety of energy outputs - including hydrogen, liquid fuels like diesel, and ethanol, power, and syngas.
Source: Air Products
CONTACT:
Media: Art George of Air Products,
+1-610-481-1340
georgeaf@airproducts.com
or Mark Montemurro
President and Chief Executive Officer of Alter NRG
+1-403-806-3877
Mmontemurro@alterNRG.ca
or Investors:
Nelson Squires of Air Products
+1-610-481-7461
squirenj@airproducts.com
or Daniel Hay
Chief Financial Officer of Alter NRG,
+1-403-806-3881,
Dhay@alterNRG.ca
Web Site: www.airproducts.com/
