This facility has been designed and constructed by Microgy, Inc., Environmental Power's principal operating subsidiary. The facility is believed by Microgy to produce substantially more electricity from a given quantity of animal and organic wastes than any other anaerobic digester system built for commercial purposes in the United States. The facility is the first installed in the United States utilizing a proven Danish technology licensed exclusively to Microgy for deployment in North America. The system is projected to generate approximately 6.5 million kilowatt hours annually from the waste of about 800 milk cows, an output that is sufficient to supply approximately 600 homes.
“Environmental Power Corporation is committed to developing renewable and alternative energy facilities. With our first-mover advantage in producing biofuels from agricultural waste management processes, we hope to continue leading the way in the growing market for 'green' energy”
Joseph Cresci stated "The commissioning of this system is the first step toward what we believe will be an important role for this superior technology in helping our country cost-effectively meet its growing energy demands while protecting the environment."
In addition to producing renewable energy, anaerobic digesters are recognized as a solution to environmental and regulatory compliance issues related to animal waste disposal. Microgy's system can help farmers reduce ground and surface water pollution and minimize odors while freeing land for increased herd sizes, which is expected to help lower farm operation and maintenance costs. Anaerobic digesters also produce residual byproducts, including compost, bedding materials and pollution management credits that can serve as additional sources of revenue.
"Environmental Power Corporation is committed to developing renewable and alternative energy facilities. With our first-mover advantage in producing biofuels from agricultural waste management processes, we hope to continue leading the way in the growing market for 'green' energy," said Kam Tejwani, president and chief executive officer, Environmental Power Corporation. "This event showcases Microgy's unique technology and celebrates our collaboration with Lee Jensen of Five Star Dairy, Dairyland Power Cooperative and Dunn Energy. We look forward to the construction and installation of additional anaerobic digesters with Dairyland Power Cooperative."
"This alliance with Microgy enables Dairyland to expand our renewable energy portfolio as part of our long-term plan to use clean, cost-effective sources of electricity. Increased demand on our system will be eased by this waste-to-energy generation, which is good for our cooperative members and the environment," said William Berg, president and chief executive officer, Dairyland Power Cooperative.
The event is expected to attract key policy makers, investors, and members of the agricultural community and invited press.
ABOUT ENVIRONMENTAL POWER CORPORATION
Environmental Power Corporation is a developer, owner and operator of renewable energy production facilities. Its principal operating subsidiary, Microgy, Inc., holds an exclusive license in North America for the development and deployment of a proprietary anaerobic digestion technology for the extraction of methane gas from animal wastes for its use to generate energy. For more information visit the Company's web site at www.environmentalpower.com.
ABOUT MICROGY, INC.
Microgy holds an exclusive license in North America for the development and deployment of a proprietary anaerobic digestion technology, which transforms manure and food industry waste into methane-rich biogas that can be used to generate electricity or thermal energy, or refined to pipeline-grade methane for sale as a commodity. This technology also represents a potentially profitable solution for the nation's estimated 3,500 large animal feeding operations as they seek to comply with a growing number of proposed and adopted mandates developed by federal, state and local officials aimed at regulating the management of farm waste. Complying with these mandates places potentially significant cost and operational burdens on America's farmers, which Microgy's technology can help to address.
ABOUT DAIRYLAND POWER COOPERATIVE
With headquarters in La Crosse, Wis., Dairyland provides wholesale electricity to 25 member distribution cooperatives and 20 municipal utilities. Dairyland's service area encompasses 62 counties in four states (Wisconsin, Minnesota, Iowa and Illinois). Dairyland has provided low-cost, reliable electrical energy and related services to its customers in the upper Midwest for over 63 years.
CAUTIONARY STATEMENT
The Private Securities Litigation Reform Act of 1995, referred to as the PSLRA, provides a "safe harbor" for forward-looking statements. Certain statements contained in this press release, such as statements concerning planned manure-to-energy systems, our sales pipeline, our backlog, our projected sales and financial performance, statements containing the words "may," "assumes," "forecasts," "positions," "predicts," "strategy," "will," "expects," "estimates," "anticipates," "believes," "projects," "intends," "plans," "budgets," "potential," "continue," "targets" and variations thereof, and other statements contained in this press release regarding matters that are not historical facts are forward-looking statements as such term is defined in the PSLRA. Because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: uncertainties involving development-stage companies, uncertainties regarding project financing, the lack of binding commitments and the need to negotiate and execute definitive agreements for the construction and financing of projects and for other matters, financing and cash flow requirements and uncertainties, difficulties involved in developing and executing a business plan, difficulties and uncertainties regarding acquisitions, technological uncertainties, including those relating to competing products and technologies, risks relating to managing and integrating acquired businesses, unpredictable developments, including plant outages and repair requirements, the difficulty of estimating construction, development, repair and maintenance costs and timeframes, the uncertainties involved in estimating insurance and implied warranty recoveries, if any, the inability to predict the course or outcome of any negotiations with parties involved with our projects, uncertainties relating to general economic and industry conditions, and the amount and rate of growth in expenses, uncertainties relating to government and regulatory policies, the legal environment, intellectual property issues, the competitive environment in which Environmental Power Corporation and its subsidiaries operate and other factors, including those described in our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q, well as in other filings we make with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date that they are made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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