Intrepid to Begin Clean Green Gas Production
Posted on: Monday, 5 June 2006, 12:00 CDT
Intrepid Technology and Resources, Inc. (OTCBB: IESV), a renewable alternate energy company, has received the gas conditioning equipment slated for use in creating pipeline quality gas from its Whitesides Biogas facility. The two semi loads of proprietary equipment will be installed over the next several weeks and brought into operation. The equipment is unique in that it can process a smaller gas stream from the existing two digester array, as well as the full ten digester array that is currently under construction.
The cost of this gas conditioning equipment is equivalent to the entire book value of the existing plant, effectively doubling the asset value of the facility. Independent sampling of the product gas will be performed to verify the entire system's ability to produce pipeline-quality gas. The company plans to sell product gas from the existing two digester system in July and then begin the installation of the additional eight tanks which will be completed in late 2006.
The clean gas will be delivered into an Intermountain Gas pipeline making Intrepid the first alternate energy company in North America to produce pipeline quality gas from animal and industrial waste. Once the entire technology has been proven, by delivering gas to Intermountain, Intrepid will begin to aggressively pursue additional locations for their biogas fields that may include Idaho, Washington and California. Additionally, with the technological superiority of the digester, Intrepid will begin to market the systems and Intrepid's process and procedures expertise to other stand-alone dairies and feedlots.
About Intrepid Technology and Resources, Inc.: We are a national leader in Alternative Energy technology and production and an application innovator of biogas products and services designed to assist in worldwide energy independence and reduce pollution from renewable agriculture feedstock and industrial and agriculture waste materials.
Statements released by Intrepid Technology and Resources, Inc. that are not purely historical are forward looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q, and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
For additional information, contact: Steve Ellis (208-529-5337) Contact via http://www.marketwire.com/mw/emailprcntct?id=25FAF24AC88B2DEE
SOURCE: Intrepid Technology
Source: MARKET WIRE
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