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Laidlaw Energy Group, Inc. Completes Acquisition of GE Steam Turbine Generator for New York Project

Posted on: Thursday, 7 September 2006, 09:21 CDT

Laidlaw Energy Group, Inc. (OTC: LLEG) announced today that it has completed the acquisition of a 5 megawatt General Electric steam turbine generator. Laidlaw Co-Gen, Inc. ("Laidlaw"), an affiliate of LLEG, purchased the turbine from the Borough of Chambersburg, Pennsylvania, where it was previously used for local power supply. Laidlaw has recently completed refurbishing and upgrading the turbine and intends to install it in its facility in Western New York that is currently undergoing conversion to a renewable fuel source, clean wood biomass fuel. Upon completion, Laidlaw's innovative renewable energy project will eliminate the consumption of over 350 million cubic feet of natural gas per annum, create 25 new jobs and produce enough clean energy to supply approximately 6,000 homes. The project will also provide heat and electricity to Laidlaw's related hardwood lumber drying business that custom kiln dries hardwood lumber for regional lumber mills, yards and manufacturers.

About Laidlaw Energy Group

Laidlaw Energy Group (LLEG) is engaged in the development of independent power plants that generate electricity from renewable resources. LLEG's mission is to build and manage a profitable portfolio of renewable energy facilities through development, acquisition, conversion of existing facilities and through partnering with manufactures that have significant electric and thermal needs. LLEG is headquartered in New York, New York. For more information on LLEG, please visit our website at NYENRG.com.

This communication contains statements expressing expectations of future events and/or results which may include, without limitation, statements concerning anticipated financial performance, business prospects, technological developments, potential markets, new products, research and development activities and similar matters. Such statements constitute forward-looking statements made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. All statements based on future expectations rather than historical facts are forward-looking statements that involve a number of risks and uncertainties, and LLEG cannot provide assurance that such statements will prove to be correct. LLEG undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Source: Business Wire

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