Alter NRG Corp. retracts the exclusive license to POSCO ICT

CALGARY, Oct. 22, 2012 /CNW/ - Alter NRG ("Alter NRG" or the "Company") has 
retracted the exclusive territory license and joint development agreement 
("the Agreement") with POSCO ICT that was previously disclosed on September 5, 
2012. POSCO ICT failed to pay the $1 million initial payment and has been 
delivered a breach of contract notice by the Company. POSCO ICT has a 
waste-to-energy project which it is evaluating the Westinghouse Plasma 
Technology owned by Alter NRG, however, at this time the exclusive license has 
been rescinded and it is uncertain what future activities with POSCO ICT will 
be agreed upon, if any. 
Alter NRG provides alternative energy solutions to meet the growing demand for 
environmentally responsible and economically viable energy in world markets. 
Alter NRG's primary objective is to further commercialize the Westinghouse 
Plasma Gasification Technology, through its wholly owned subsidiary, to 
provide renewable and clean energy solutions from a wide variety of 
feedstocks, and provide a wide variety of energy outputs - including liquid 
fuels like ethanol and diesel, electrical power, and syngas. 
The Toronto Stock Exchange does not accept responsibility for the adequacy or 
accuracy of this release. 
Advisory Respecting Forward-Looking Statements:
This news release contains certain "forward-looking information and 
statements" within the meaning of applicable securities laws. The use of any 
of the words "expect", "anticipate", "continue", "estimate", "objective", 
"ongoing", "may", "will", "project", "should", "believe", "plans", "intends", 
"confident", "might" and similar expressions are intended to identify 
forward-looking information or statements. In particular, this new release 
contains forward looking statements pertaining to capital expenditures, 
schedules and commencement of operations of existing projects and projects 
under development; availability of project financing; timing of sales; 
industry trends; factors influencing capital investments and development 
activities; the Corporation's reputation and market position within the 
industries in which it operates and the Corporation's strategy and competitive 
advantages. Various assumptions were used in drawing the conclusions or 
making the projections contained in the forward-looking statements throughout 
this news release. 
The forward-looking information and statements included in this news release 
are not guarantees of future performance and should not be unduly relied upon. 
Forward-looking statements reflect management's current beliefs and 
assumptions, based on information currently available to management. A number 
of factors could cause actual results to differ materially from the results 
discussed in the forward-looking statements, many of which are beyond the 
control of the Corporation. Among the material factors that could cause actual 
results to differ materially from those indicated by such forward-looking 
statements are: that the information is of a preliminary nature and may be 
subject to further adjustment; unforeseen environmental effects; failure of 
the proposed project to proceed to completion, ability to market projects 
effectively, arrangements with key suppliers; potential product liability and 
other claims; risks associated with the proprietary technology; closing on 
grants and incentives, the possible unavailability of financing at competitive 
rates and the related effect on development activities; changes in government 
regulation, including changes to environmental regulations; the effects of 
competition; the dependence on senior management and key personnel, and 
fluctuations in currency exchange rates and interest rates, as well as those 
factors discussed in or referred to under the heading "Risk Factors" in the 
Company's Annual Information Form dated March 29, 2010 available at Such information and statements involve known and unknown 
risks, uncertainties and other factors that may cause actual results or events 
to differ materially from those anticipated in such forward-looking 
information or statements. 
The Corporation cautions that the foregoing list of assumptions, risks and 
uncertainties is not exhaustive. The forward-looking information and 
statements contained in this news release speak only as of the date of this 
news release, and the Corporation assumes no obligation to publicly update or 
revise them to reflect new events or circumstances, except as may be required 
pursuant to applicable securities laws. 
Walter Howard, Chief Executive Officer (403) 806-3877 
Daniel Hay, Chief Financial Officer (403) 
SOURCE: Alter NRG Corp. 
To view this news release in HTML formatting, please use the following URL: 
CO: Alter NRG Corp.
ST: Alberta
-0- Oct/22/2012 12:30 GMT
Press spacebar to pause and continue. Press esc to stop.