Alternative Energy | $4.00 |
ANRGF’s stock has moved up 124% since our initiation report issued only six months ago. Progress is being made across all business lines and the recent acquisition of Clean Energy, an award winning and leading integrator of geoexchange products, will bring a new growth platform along with immediate cash and revenues. Consumer interest and support for “green” technology and alternative energy is very strong in Canada which can translate into an excellent growth vehicle for ANRGF and immediately contribute to the Company’s bottom line. ANRGF’s management believes their strong balance sheet and new management will accelerate Clean Energy’s growth to substantially higher levels and reasonably expects $100 million in revenue from this business. The acquisition is also a welcome source of ongoing cash which will help offset the “feast or famine” nature of the Company’s other big ticket engineering businesses. The 100% upside to our $4.00/share price target remains attractive and our price target may in fact prove conservative once a firm ethanol project is announced. We are maintaining our Buy recommendation and $4.00 price target.
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The world is looking for clean energy solutions and Alter NRG has an industry leading technology that is commercially proven that can provide profitable energy solutions at today's forecast commodity prices.
Industry leading plasma technology - world's only commercial facilities handling waste, North America's first regulatory approval of commercial scale project, worlds largest hazardous waste facility under construction.
Commercially Proven - over 500,000 hours of industrial use of plasma torch systems, over 400,000 tons of household and industrial waste processed, facilities operating commercially for 7 years.
Westinghouse Brand - Westinghouse is known for many of America's inventions including the elevator, the microwave, etc. With over $100 million dollars of development money, 22 active patents, and a world class demonstration facility the Westinghouse technology is the market leader.
Strong Customer Base - Projects are being advanced worldwide by industry leading companies in the US like NRG Energy, Coskata and Air Products. The Company has hundreds of proposed projects by developers and international opportunities and alliances with industry leaders.
Industry leading plasma technology - world's only commercial facilities handling waste, North America's first regulatory approval of commercial scale project, worlds largest hazardous waste facility under construction.
Commercially Proven - over 500,000 hours of industrial use of plasma torch systems, over 400,000 tons of household and industrial waste processed, facilities operating commercially for 7 years.
Westinghouse Brand - Westinghouse is known for many of America's inventions including the elevator, the microwave, etc. With over $100 million dollars of development money, 22 active patents, and a world class demonstration facility the Westinghouse technology is the market leader.
Strong Customer Base - Projects are being advanced worldwide by industry leading companies in the US like NRG Energy, Coskata and Air Products. The Company has hundreds of proposed projects by developers and international opportunities and alliances with industry leaders.
Overview
Alter NRG provides alternative energy solutions by way of plasma gasification to supply the rapid growth within the clean energy markets worldwide. The Company’s vision is to become the world’s leading plasma gasification technology supplier and to develop environmentally sustainable and economically viable gasification projects for the commercial production of energy. Alter NRG sells plasma gasification technology and participates in gasification projects that fit its strategic growth plan.
Alter NRG acquired Westinghouse Plasma Corp.’s plasma gasification technology in 2007 at a hefty discount. This plasma technology can gasify coal, biomass, petroleum coke, and almost any other material waste (household or industrial) to derive hydrogen and carbon monoxide which can be converted into high value diesel, ethanol, hydrogen and steam.
Alter NRG acquired Westinghouse Plasma Corp.’s plasma gasification technology in 2007 at a hefty discount. This plasma technology can gasify coal, biomass, petroleum coke, and almost any other material waste (household or industrial) to derive hydrogen and carbon monoxide which can be converted into high value diesel, ethanol, hydrogen and steam.
Investment Highlights
- As of November 2009, Alter NRG had 16 projects in the engineering development stage, each valued at an approximate $25 to $75 million adding up to a potential $400 million pipeline.
- On October 13, 2009, Alter NRG announced the signing of a Memorandum of Understanding (MOU) with Dufferin County, Ontario to develop an energy recovery facility capable of processing 75 tones per day of household waste and convert it into approximately two megawatts of electricity. The MOU includes an initial $200,000 of preliminary engineering on the project.
- On October 5, 2009, Alter NRG announced they had acquired 100% of the shares of CleanEnergy Developments Corp., a provider of Geoexchange services in the Canadian commercial, industrial and residential markets. The acquisition price of $18.4 million was paid using $7.8 million in cash and 5.3 million common shares of Alter NRG stock at a deemed price of $2.00 per share.
- According to the Gasification Technologies Council, worldwide gasification capacity is projected to grow 70% by 2015.
- Recent News
05/10/10
8:11 AM EDTAlter NRG reports first quarter 2010 activities and financial results - PR Newswire 05/10/10
8:01 AM EDTAlter NRG reports first quarter 2010 activities and financial results - Canada Newswire 05/04/10
8:18 AM EDTAlter NRG Corp. announces equipment sale and strategic alliance with Wuhan Kaidi, a major Chinese renewable energy and power company - PR Newswire 05/04/10
8:02 AM EDTAlter NRG Corp. announces equipment sale and strategic alliance with Wuhan Kaidi, a major Chinese renewable energy and power company - Canada Newswire 04/28/10
1:07 PM EDTAlter NRG Corp. and Mountain Province Diamonds Inc. Under Current Evaluation - Accesswire 04/22/10
8:32 AM EDTAlter NRG Corp. announces the acquisition of an equity interest in Groundheat International Inc., strategic alliance with major real estate developer and geoexchange operational update - Canada Newswire
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