Alternate Energy Corp Consortium to Produce Affordable Vehicle That Operates without Fossil Fuel.Business Editors
LAS VEGAS--(BUSINESS WIRE)--June 8, 2004
Alternate Energy Corporation (OTCBB OTCBB
See OTC Bulletin Board (OTCBB). : ARGY or "AEC AEC US Atomic Energy Commission
Noun 1. AEC - a former executive agency (from 1946 to 1974) that was responsible for research into atomic energy and its peacetime uses in the United States
Atomic Energy Commission ") announced today that they, together with Feel Good Cars Inc. (FGC FGC Female Genital Cutting (Africa)
FGC Ferrocarrils de la Generalitat de Catalunya (Catalan Railway system)
FGC Friends General Conference (Quakers)
FGC Family Group Conference ) and others, intend to produce a prototype hydrogen powered internal combustion engine Internal combustion engine
A prime mover, the fuel for which is burned within the engine, as contrasted to a steam engine, for example, in which fuel is burned in a separate furnace. electric vehicle. Alternate Energy will retrofit a FGC's ZENN ZENN Zero Emission No Noise (automobile)
ZENN Zero Emissions No Noise (TM) (Zero Emissions No Noise) Urban Low Speed Electric Vehicle. The Company believes the resultant vehicle will demonstrate that a hydrogen powered car can be produced at a price affordable to middle income households.
Feel Good Cars intends to provide the platform and technical know-how relative to their ZENN(TM) electric technology. Alternate Energy intends to provide its proprietary, on board, hydrogen generator unit to produce on demand hydrogen that will power the car's hybrid drive A hard disk drive that contains a built-in, non-volatile cache comprised of flash memory. Reads and writes go through the cache first, enabling the platters to remain at rest most of the time. For laptop computers especially, the less the disk rotates, the less power is used. system. Alternate Energy anticipates that the project can provide an alternative to large electric vehicle battery systems and thereby eliminate the need to recharge via electricity produced from the burning of fossil fuels.
The objective is to demonstrate that the Feel Good Cars' urban electric hybrid-drive low speed vehicle, powered by Alternate Energy's on board proprietary hydrogen production Hydrogen production is commonly completed from hydrocarbon fossil fuels via a chemical path. Hydrogen may also be extracted from water via biological production in an algae bioreactor, or using electricity (by electrolysis) or heat (by thermolysis); these methods are presently not system, can prove to be a viable alternative to the zero emission standards solution. The resulting system should enable FGC to produce affordable, non-polluting, mass market vehicles that do not require gasoline, natural gas, or other fossil fuels. The automobile can, in effect, produce power from water by virtue of Alternate Energy's technology.
The working prototype intends to have Alternate Energy's hydrogen system generate, on board hydrogen, that can power a small non polluting Internal Combustion Engine ("ICE"). This ICE can drive a newly developed alternator alternator: see generator.
Source of direct electric current in modern vehicles for ignition, lights, fans, and other uses. The electric power is generated by an alternator mechanically coupled to the engine, with a rotor field coil that can produce electricity to power the electric motor of the vehicle. In addition, the new alternator can be used to recharge the batteries that are simultaneously being used to power the electric propulsion Electric propulsion is a form of spacecraft propulsion used in outer space. This type of rocket engines utilize electric energy to obtain thrust, unlike the "normal" rocket engines that use chemical energy. motor of the vehicle. Anticipated key benefits of this system are low cost, no hazardous emissions, increased range and elimination of downtime attributed to recharging. Alternate Energy believes that the initial sales price of the vehicle should not be overburdened by the use of the new technology and that the operating fuel cost should be less than the existing cost of gasoline.
"With the exception of our hydrogen generation system, all of the technology involved in making this automobile a reality is already proven. As we know from our research and development findings, our on board hydrogen generation system can economically produce the required hydrogen. As well, by producing electricity while underway, the range of the vehicle can be greatly enhanced which overcomes the limited range problem associated with existing electric vehicles. That, coupled with an affordable, non-polluting, electrically powered automobile, can assist in reducing automobile emissions. It is the Company's intention to have a demonstration vehicle this year." said Blaine Froats, Chairman of Alternate Energy.
Alternate Energy's development of this electrically powered vehicle is made possible by its recent acquisition of the rights to use the formulation in conjunction with a hydrogen powered ICE.
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3. Wired Magazine (May 2004 issue), hybrid car hybrid car, hybrid vehicle hybrid n → Hybridfahrzeug nt or -auto nt sales are estimated to cross the 2% of all U.S. car sales threshold in 2008, with most domestic and foreign automotive manufacturers working on plans to launch their own hybrid models within a few years.
Pictures of the demonstration vehicle will be available at Alternate Energy's corporate website, www.cleanwatts.com.
About Alternate Energy Corporation (Alternate Energy; www.cleanwatts.com):
Alternate Energy Corporation (Alternate Energy) intends to provide a hydrogen system that has mass-deployment economics and provides small-scale, on-demand distributed generation Distributed generation generates electricity from many small energy sources. It has also been called also called on-site generation, dispersed generation, embedded generation, decentralized generation, decentralized energy or of electricity. The Company anticipates shipping initial hydrogen production and electricity generation systems in late 2004 and that they will qualify for Renewable Energy Certificates Renewable Energy Certificates (RECs), also known as Green tags, Renewable Energy Credits, or Tradable Renewable Certificates (TRCs), are the property rights to the environmental benefits from generating electricity from renewable energy sources. . These units can include either a fuel cell or hydrogen internal combustion engine as part of the electricity generation process. Alternate Energy's proprietary discovery in metallurgy permits a small-scale unit to generate hydrogen from water through a "green" system at a price competitive with the fossil fuel kWh cost of energy.
About Feel Good Cars (www.feelgoodcars.com):
Feel Good Cars is a leading developer, manufacturer and supplier of electrically powered vehicles. Feel Good Cars thrives on providing drivers with vehicle choices they can feel good about. Working with their internationally respected partners, they are bringing the world(1)s finest zero-emission vehicles to the public setting a new standard for what electric vehicles can be. The culmination of this passion for quality is the ZENN(TM) (Zero Emissions No Noise) vehicle.
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, the ability to negotiate outstanding prior debts of acquired companies; properly identify acquisition partners; adequately perform due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. ; manage and integrate acquired businesses; react to quarterly fluctuations in results; raise working capital and secure other financing; respond to competition and rapidly changing technology; deal with market and stock price fluctuations; and other risks. These risks are and will be detailed, from time to time, in ARGY's Securities and Exchange Commission filings, including Form 10-KSB 10-QSB and 8-K. Actual results may differ materially from management's expectations.