Warrior Girl Corp to Acquire American Hydro Energy
EWING, N.J., Nov. 14 /PRNewswire-FirstCall/ — Warrior Girl Corp (Pink Sheets: WRGL) is pleased to announce it has signed a Letter of Intent with American Hydro Energy Company (“Hydro”) to acquire 100% of their stock in return for restricted shares of common stock of WRGL. The Company’s purchase of Hydro is subject to due diligence by both parties. WRGL has submitted all requested due diligence information to Hydro and its legal counsel as of today and has begun its own due diligence process.
ABOUT AMERICAN HYDRO ENERGY: The U.S. Army Corps of Engineers estimates America’s undeveloped hydropower to be 580,000,000 kilowatts (kW). American Hydro Energy has developed a system to utilize this huge hydropower potential. The Company is currently developing a large computer designed turbine to harness immense river current power potential. The slow turning turbine will be submerged several feet under the surface of a river without the necessity of dams or diversions of river water. The turbine is environment friendly and will not interfere with boats, fishermen, or recreational river users, nor hinder fish migration nor harm water animals. Unlike intermittent wind power, river flow power is continuous throughout the year. This technology will be able to generate multi-megawatts (MW) of clean, low cost, environmentally friendly power.
The Company plans to sell its hydropower into the electric grid using the Federal PURPA law (Public Utility Regulatory Policy Act of 1978). This law allows for the sale of up to 10 megawatts (MW) of power from each site at a rate set by each state’s Public Utility Commission (PUC)–which the existing power companies are required by law to purchase. For example, in Idaho, this PUC set rate is $.06 per kilowatt hour (kWh). 10 MW of power sold into the grid at $.06 per kWh will yield $5,256,000 annually. In California, the PUC set rate is about $.15 per kWh. The same 10-megawatt power unit would produce about $13,140,000 per year in California. Power rates in New York and the New England states are even higher than California. Hawaii’s power rate is the highest in the country with the PUC rate at about $.26 per kWh. A 10-megawatt power unit in Hawaii would return about $23,000,000 per year income.
Projected cost to generate river flow hydropower will be about 1.25 cents per kWh, less than 10% of the average residential power rate in many states. This project will ultimately have a significant impact on reducing power costs of millions of households across America.
ABOUT WARRIOR GIRL CORP: The company is dedicated to helping achieve effective energy independence for the United States beginning with the development and deployment of technologies in the hydropower and tar-sand (oil) extractive sectors. These technologies are expected to have other applications in the alternative energy sector.
Included in this release are “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. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such events will materialize. The company’s actual results could differ materially from those anticipated in the forward-looking statements.
Warrior Girl Corp
CONTACT: Caroline Seymour-Jones, +1-305-607-9518