Printer Friendly

Corporate Governance Regimen Established at The Alternative Energy Technology Center, Inc.

HOUSTON -- The Alternative Energy Technology Center, Inc. (OTC:AETE) announced today that it has established a corporate governance regimen to create investor awareness and transparency for the benefit of shareholders and investors. The Company expects to update its current information filings in February and to establish a code of conduct and code of ethics for management and employees as recommended by the Sarbanes Oxley act. The Company then intends to complete the audit of its financial statements and file a Form 10 in 2008 to become a fully reporting company with the Securities and Exchange Commission in order to give better transparency to investors.

In addition, the Company announced today that the venture between recently acquired Meridian Biorefining, Inc. and Gulf Ethanol Corporation was terminated when the parties could not agree to terms on the licensing agreement. The venture would have allowed GFTE to acquire the rights to new cellulose feed-stock processing technology for ethanol.

The Company: The Alternative Energy Technology Center, Inc. (OTC:AETE), based in The Woodlands, TX , is a technology company focused on biofuels and alternative energy technologies. It is developing the first true biorefinery in the U.S. It will focus on technologies using renewable energy inputs from non-food energy sources and on technologies that can be scaled up to efficiently addresses the post-petroleum energy needs of the United States.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
COPYRIGHT 2008 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008, Gale Group. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Feb 18, 2008
Words:364
Previous Article:Global Linguist Solutions Again Awarded $4.6 Billion Army Linguist Services Contract.
Next Article:Donation from EZSchoolSupplies, LLC Helping More Than 100 Students at Colorado Middle School.
Topics:


Related Articles
A Winter's tale: the European Commission's attempts to harmonise company law in the EU have been criticised before for being more concerned with...
Improving the 'director value proposition.' (Governance Letter).
Good corporate governance: responding to today's new business environment.
Giving shareholders short shrift: research shows that public companies decline to act on a substantial percentage of shareholder votes. Companies...
After Enron: Lessons for Public Policy.
EXXONMOBILE UNPREPARED TO LEAD IN CARBON-CONTRAINED WORLD.
After Enron; lessons for public policy. (reprint, 2005).

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters