Post by DBinDallas on Aug 17, 2004 8:44:50 GMT -5
Intrepid's Technology Could Play Vital Role In Providing Alternate Energy For the United States
IDAHO FALLS, Idaho, Aug. 17, 2004 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) (OTCBB:IESV), an Idaho alternative energy provider, announces today that its first of many Anaerobic Digesters is now in the process of final construction. Company President, Dr. Dennis Keiser, stated, "we anticipate this advanced Digester to be fully operational later in 2004 and thereafter we will accelerate other similar but larger installations. The fact that this technology is potentially the most efficient and economical of its kind, that would allow thousands of dairy farmers and food processors to get a positive return on their waste processing investment within a three to seven year period."
ITR President, Dr. Keiser, goes on to say, "There are considerable global forces shaping the upcoming wave of alternative renewable energy initiatives. Certainly the worldwide energy crisis and industrialized nations dependence has resulted in the highest crude oil and natural gas prices ever and the United States is not replacing domestic natural gas reserves at a rate that will allow any relief to consumers. The Department of Energy has projected a very small 0.5% increase in domestic production of natural gas over the next two years. Recent escalation on natural gas prices now allows for the economical conversion of animal and industrial waste into biogas and ultimately methane. Processing of these wastes into methane provides a valuable approach for replacement of domestic natural gas reserves."
Dr Keiser further states "this system produces the highest heating-value biogas of any known proven technology. In the refined methane state, the biogas would useable for transportation vehicles operating on cleaner burning compressed natural gas (CNG) or liquid natural gas (LNG) as a replacement for gasoline and diesel. Commercial users can use this gas directly to fire boilers or as a backup energy source for natural gas application." Federal, state, and local government vehicles are transitioning to the cleaner burning CNG or LNG fuel sources as part of the Clean Cities Coalitions. The era of cheap oil and natural gas is over. Use of this technology, turning animal and industrial waste that previously had a negative economic value into a commodity with positive economic value, could begin a new era of affordable, dependable, energy."
Intrepid Technology and Resources is the right company, at the right time, with the right technology providing the best solution economically for everyone to win.
Intrepid Technology Background: We are an Idaho based technology application innovator of Biogas, bio-diesel and Ethanol products and services designed to assist in Idaho and nation-wide energy independence. All of these energy sources are from renewable agriculture feedstock and industrial and agriculture waste materials.
Statements released by Intrepid Technologies and Resources 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. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
CONTACT: Intrepid Technologies and Resources
Investor Information
Steve Ellis
(208) 529-5337
sellis@intrepid21.com
Broker/Investor Information
Delta Capital Asset Group, Inc.
(410) 448-1130
generalinfo@delcapgroup.com
IDAHO FALLS, Idaho, Aug. 17, 2004 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) (OTCBB:IESV), an Idaho alternative energy provider, announces today that its first of many Anaerobic Digesters is now in the process of final construction. Company President, Dr. Dennis Keiser, stated, "we anticipate this advanced Digester to be fully operational later in 2004 and thereafter we will accelerate other similar but larger installations. The fact that this technology is potentially the most efficient and economical of its kind, that would allow thousands of dairy farmers and food processors to get a positive return on their waste processing investment within a three to seven year period."
ITR President, Dr. Keiser, goes on to say, "There are considerable global forces shaping the upcoming wave of alternative renewable energy initiatives. Certainly the worldwide energy crisis and industrialized nations dependence has resulted in the highest crude oil and natural gas prices ever and the United States is not replacing domestic natural gas reserves at a rate that will allow any relief to consumers. The Department of Energy has projected a very small 0.5% increase in domestic production of natural gas over the next two years. Recent escalation on natural gas prices now allows for the economical conversion of animal and industrial waste into biogas and ultimately methane. Processing of these wastes into methane provides a valuable approach for replacement of domestic natural gas reserves."
Dr Keiser further states "this system produces the highest heating-value biogas of any known proven technology. In the refined methane state, the biogas would useable for transportation vehicles operating on cleaner burning compressed natural gas (CNG) or liquid natural gas (LNG) as a replacement for gasoline and diesel. Commercial users can use this gas directly to fire boilers or as a backup energy source for natural gas application." Federal, state, and local government vehicles are transitioning to the cleaner burning CNG or LNG fuel sources as part of the Clean Cities Coalitions. The era of cheap oil and natural gas is over. Use of this technology, turning animal and industrial waste that previously had a negative economic value into a commodity with positive economic value, could begin a new era of affordable, dependable, energy."
Intrepid Technology and Resources is the right company, at the right time, with the right technology providing the best solution economically for everyone to win.
Intrepid Technology Background: We are an Idaho based technology application innovator of Biogas, bio-diesel and Ethanol products and services designed to assist in Idaho and nation-wide energy independence. All of these energy sources are from renewable agriculture feedstock and industrial and agriculture waste materials.
Statements released by Intrepid Technologies and Resources 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. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
CONTACT: Intrepid Technologies and Resources
Investor Information
Steve Ellis
(208) 529-5337
sellis@intrepid21.com
Broker/Investor Information
Delta Capital Asset Group, Inc.
(410) 448-1130
generalinfo@delcapgroup.com