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Environmental Power Applauds Biogas Production Incentives Act of 2007

Posted on: Thursday, 19 April 2007, 12:00 CDT

PORTSMOUTH, N.H., April 19 /PRNewswire-FirstCall/ -- Environmental Power Corporation , a leader in the renewable biofuels industry, today announced its support for the Biogas Production Incentives Act of 2007 introduced by Senators Ben Nelson of Nebraska and Larry Craig of Idaho. The bill would encourage greater production of biogas from animal and other organic waste, reducing demand for fossil fuels by increasing the production of a readily available, renewable domestic source of energy.

"The technology to break down animal wastes to create biogas already exists but it needs encouragement from the federal government to become a commercially-viable alternative to natural gas," said Senator Nelson. "This new energy source would benefit rural communities and the environment while lessening our dependence on fossil fuels. We shouldn't waste the waste; we should promote biogas development."

"Creating a product out of waste is a groundbreaking opportunity to assist our livestock farmers," said Senator Craig. "You create a new market, help control waste, keep our environment clean, and create a new revenue stream for farmers. That is why this is so exciting and worthwhile."

Biogas production from animal waste offers significant environmental benefits in addition to offsetting fossil fuel consumption. Anaerobic digestion systems prevent methane, a potent greenhouse gas, from entering the atmosphere, and as such will generate carbon offset credits that could be traded under a greenhouse gas cap-and-trade system. In addition, the process improves water quality through better manure management.

The proposed bill calls for production tax credits, loans and grants to facilitate capital investment, and a floor price for biogas producers to protect them from volatility in the energy market.

"We applaud the leadership from Senators Nelson and Craig on legislation that would support energy production from anaerobic digestion systems," said Rich Kessel, President and Chief Executive Officer of Environmental Power.

"Anaerobic digestion of manure and other organic waste can produce significant amounts of renewable energy and can deliver a natural gas equivalent directly into the existing natural gas pipeline infrastructure, " Kessel added. "In addition, our process captures methane, a greenhouse gas twenty-one times more potent than carbon dioxide and prevents its escape into the atmosphere as a very damaging greenhouse gas. This important legislation will encourage the development of a readily-available renewable energy source and will help to diversify America's energy assets."

ABOUT ENVIRONMENTAL POWER CORPORATION

Environmental Power Corporation is a developer, owner and operator of renewable energy production facilities. Its principal operating subsidiary, Microgy, Inc., holds an exclusive license in North America for the development and deployment of a proprietary anaerobic digestion technology for the extraction of methane gas from animal and other wastes for its use to generate energy. These facilities can also generate significant quantities of tradable greenhouse gas credits. For more information visit the Company's web site at http://www.environmentalpower.com/.

CAUTIONARY STATEMENT

The Private Securities Litigation Reform Act of 1995, referred to as the PSLRA, provides a "safe harbor" for forward-looking statements. Certain statements contained in this press release, such as statements concerning planned manure-to-energy systems, our sales pipeline, our backlog, our projected sales and financial performance, statements containing the words "may,""assumes,""forecasts,""positions,""predicts,""strategy,""will,""expects,""estimates,""anticipates,""believes,""projects,""intends,""plans,""budgets,""potential,""continue,""targets""proposed," and variations thereof, and other statements contained in this press release regarding matters that are not historical facts are forward-looking statements as such term is defined in the PSLRA. Because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: uncertainties involving development-stage companies; uncertainties regarding project financing, the lack of binding commitments and/or the need to negotiate and execute definitive agreements for the construction and financing of projects, the sale of project output, the supply of substrate and other requirements and for other matters; financing and cash flow requirements and uncertainties; inexperience with the development of multi-digester projects; risks relating to fluctuations in the price of commodity fuels like natural gas, and our inexperience with managing such risks; difficulties involved in developing and executing a business plan; difficulties and uncertainties regarding acquisitions; technological uncertainties; including those relating to competing products and technologies; risks relating to managing and integrating acquired businesses; unpredictable developments; including plant outages and repair requirements; the difficulty of estimating construction, development, repair and maintenance costs and timeframes; the uncertainties involved in estimating insurance and implied warranty recoveries, if any; the inability to predict the course or outcome of any negotiations with parties involved with our projects; uncertainties relating to general economic and industry conditions, and the amount and rate of growth in expenses; uncertainties relating to government and regulatory policies and the legal environment; uncertainties relating to the availability of tax credits, deductions, rebates and similar incentives; intellectual property issues; the competitive environment in which Environmental Power Corporation and its subsidiaries operate and other factors, including those described in our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q, well as in other filings we make with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date that they are made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT Rich Kessel, President and CEO of Environmental Power Corporation (603) 431-1780 rkessel@environmentalpower.com Public Relations Contact: John Abrashkin, Ricochet Public Relations (212) 679-3300 x121 jabrashkin@ricochetpr.com Investor Relations Contact: John Baldissera, BPC Financial Marketing 1-800-368-1217

Environmental Power Corporation

CONTACT: Rich Kessel, President and CEO of Environmental PowerCorporation, +1-603-431-1780, rkessel@environmentalpower.com; or PublicRelations, John Abrashkin of Ricochet Public Relations, +1-212-679-3300 x121,jabrashkin@ricochetpr.com, for Environmental Power Corporation; or InvestorRelations, John Baldissera of BPC Financial Marketing, +1-800-368-1217, forEnvironmental Power Corporation

Web site: http://www.environmentalpower.com/

Source: PRNewswire-FirstCall

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