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Alter NRG Reports 2012 Activities and Financial Results

Alter NRG Corp., (NRG.TO) reported on its corporate activities and financial results for the fiscal year ended December 31, 2012

2012 Highlights:

- Sales of $13.7 million which is an increase over prior year of 104%. Revenue is expected to continue to increase in 2013 as the pace of fabrication increases on the facilities under construction, follow-on projects begin engineering and construction, as well as further licensing opportunities.

- Executed on approximately 61% of the $20 million purchase order from Air Products a US based Fortune 500 Company, which has previously announced its intention to build four additional advanced gasification facilities in the United Kingdom in the coming years. On October 23, 2012 Air Products announced it is advancing a second project on adjacent lands in Tees Valley of the same size and configuration as the first project.

- Wuhan Kaidi, which ordered engineering and torches previously, completed construction of its demonstration facility in China for which the Westinghouse Plasma Gasifier has now been commissioned. The facility is expected to take 100 tpd of biomass waste and convert it into liquid fuels. Upon successful demonstration (expected in early 2013), Kaidi has more than 100 sites identified to take biomass and convert it into power and liquid fuels.

- Signed an agreement to provide $12 million of Westinghouse Plasma Torches to Beijing Huanyu Guanchuan Plasma Technology Ltd. GuanChuan has ordered the first four torches for an approximate $1 million order to be delivered in early 2013. GuanChuan is using the torches for their industrial furnace applications related to the steel and iron industry in China.

- Advanced project development with a developer, PGP Terminal a.s., which previously purchased site licenses in the Czech Republic and Slovakia for $4.375 million, with 10% being paid up front. The developer has been working for several years on waste-to-energy projects and has a portfolio of projects that it is currently advancing in their home market. They expect to begin engineering on the first facilities in early 2013 with the intention of ordering equipment in late 2013 or early 2014.

- Finalized scope with SMS Infrastructure (who has already constructed two hazardous waste facilities utilizing Westinghouse Plasma technology) on two projects which have advanced into the formal regulatory approval phase with an expected plasma gasifier order in 2013. These are the more advanced projects within a larger pipeline of projects which SMS is developing and marketing in India and the Middle East. SMS is a licensee of the Westinghouse Plasma Gasification Technology and provides turnkey hazardous waste facilities to the market and has approximately 140 people in their gasification division.

- Supported a hazardous waste demonstration facility in Shanghai China being constructed by GTS Shanghai. We have previously delivered the detailed engineering and torches, however, during the year they ordered additional equipment for their facility which will be delivered in 2013. The facility has finalized its feedstock agreement with a large Chinese waste company and its site location and they are advancing the site plan.

- With the introduction of Walter Howard as the newly appointed Chief Executive Officer in Q1 2012, the Corporation began creating a structure for its investment options in current projects, to provide a more formal funding structure for the following investment options. Alter NRG has options to invest with key customers, including Air Products, which allow the Corporation to elect on the option after the project receives regulatory approval but without any promoted costs. This is a favourable option for the Corporation as it does not have to deploy the risky development capital but can participate in the project level annuity cashflow after the project has been de-risked.

In addition to the highlights above, customers around the globe continue to advance their business development efforts using the Westinghouse Plasma Gasification Solution. This includes exclusive license agreements for territories that are in advanced negotiations.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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