Alter NRG Reports Third Quarter 2012 Activities and Financial Results

Alter NRG Reports Third Quarter 2012 Activities and Financial Results 
TSX - NRG 
OTCQX - ANRGF 
CALGARY, Nov. 13, 2012 /CNW/ - (TSX: NRG); (OTCQX: ANRGF) - Alter NRG Corp., 
("Alter NRG" or the "Corporation") is pleased to report on its corporate 
activities and financial results for the three month period and six months 
ended September 30, 2012 
The Corporation's focus is the Westinghouse Plasma Gasification Technology 
which is the worldwide leader in creating energy from waste using plasma 
gasification. We market and sell the Westinghouse Plasma Technology through 
our wholly owned subsidiary, Westinghouse Plasma Corp. ("Westinghouse 
Plasma"). Westinghouse Plasma is the industry leader for the treatment of all 
types of waste (industrial, household, commercial, hazardous, etc.) using 
plasma technology and converting it into useable energy such as electricity, 
syngas (replacement for natural gas), heat, steam, or liquid fuels such as 
diesel or ethanol. 


    --  Our Vision - To provide the leading technology platform for
        converting the world's waste into clean energy for a healthier
        planet.
    --  Our Mission - As the industry leader, we will forge and
        dominate an industry segment that transforms current waste
        management practices. We build shareholder value by enabling
        customers to convert waste into clean energy by providing
        plasma gasification products, services and solutions that are
        innovative and environmentally friendly.

Westinghouse Plasma is a commercially proven technology that is used in two 
commercially operating facilities in Japan that have been converting waste 
into energy for more than 9 years, as well as facilities operating in India 
and under construction in China and England. From an environmental 
perspective, a plasma facility will have significantly lower emissions than 
other alternative energy facilities and have an overall emissions profile 
lower than a natural gas combined cycle power facility, which is considered 
the cleanest fossil fuel production. From an economic perspective 
waste-to-energy projects have strong project returns in populous areas, as the 
projects receive revenues from tipping fees to take the waste and then also 
receive revenues for the sale of energy.

Alter NRG is pleased to be presenting highlights for its third quarter of 2012 
as revenues have increased by 55% over the prior year. This is reflective of a 
maturing business plan with significant long-term potential.

Q3 HIGHLIGHTS

The third quarter of 2012 had $3.2 million in revenues, a 55% increase year to 
date over prior year. This revenue reflects the progress on the fabrication of 
the scale gasifier for the 50MW facility under construction by a leading 
Fortune 500 company.

Westinghouse Plasma
    --  Sales of $3.2 million which is a year to date increase over
        prior year of 55%. Revenue is expected to continue to increase
        in 2012 and 2013 as the pace of fabrication increases as well
        as further licensing opportunities which are expected to
        transact before year-end.
    --  Executed on approximately 37% cumulatively of the $20 million
        purchase order from Air Products, a US based Fortune 500
        Company, which has previously announced its intention to build
        4 more advanced gasification facilities in the United Kingdom
        in the coming years. On October 23rd, 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.
    --  Advanced project development with a developer, PGP Terminal
        a.s. ("PGPT"), which previously purchased site licenses in the
        Czech Republic and Slovakia for $4.375 million, with 10% being
        paid upfront. 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 late
        2012 with the intention of ordering equipment in 2013.
    --  Finalized scope with SMS Infrastructure ("SMS") (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 equipment order in early to mid 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.
    --  Wuhan Kaidi ("Kaidi"), which ordered engineering and torches
        previously, continued construction of its demonstration
        facility in China which is approximately 90% complete.
        Westinghouse Plasma personnel are gearing up to commission the
        site in Q4 of this year. Upon successful demonstration
        (expected in Q4 or early 2013), Kaidi has more than 100 sites
        identified to take biomass and convert it into power and liquid
        fuels.
    --  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 quarter they ordered additional equipment for their
        facility. The facility has finalized its feedstock agreement,
        with a large Chinese waste company and its site location and
        they are advancing the site plan.
    --  Advanced negotiations on several torch orders in international
        markets. One negotiation in China has advanced to a signed
        agreement with delivery dates in 2012 and 2013. The agreement
        is awaiting final approvals and receipt of the mobilization
        payment before work will commence.
    --  Finalized the detailed engineering for the standard design of
        the 200 tonne per day Westinghouse Plasma Gasification
        Technology for a project in Minnesota being developed by the
        Koochiching Development Authority. The standard gasifier is
        expected to sell for $12 million and the project has now
        applied for regulatory approval.
    --  With the introduction of Walter Howard as the newly appointed
        Chief Executive Officer, 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 favorable
        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 Technology. This includes exclusive license agreements for 
territories that are in advanced negotiations.

Corporate
    --  Closed the sale of CleanEnergy, the Corporation's geoexchange
        division, for $5 million of shares so that the Corporation
        could focus exclusively on the plasma gasification business.
    --  Announced the addition of a strategic shareholder, Roman
        Abramovich, who is a Russian billionaire with complementary
        investments in the waste to energy space and who intends to
        finance various waste to energy projects. The financing, led by
        Mr. Abramovich, was for 30,769,230 shares at a price of $0.325
        for a total investment of $10 million.

CEO'S MESSAGE

During the third Quarter we strengthened the Alter NRG balance sheet. While 
everyone dislikes dilution it was important to give our world-leading 
technology a foundation that is stable, and shows customers and investors that 
we are here for the long-term. As I stated in my previous CEO's messages, I am 
convinced this technology has hit the tipping point and is positioned for 
significant success. However, technology development takes time and now we 
have a stable foundation for that growth.

Commercially, we are continuing to gain traction. Even in the short time since 
I have been CEO, I have witnessed a pronounced improvement in the quality of 
customers and developers with whom we are doing business. It started late last 
year when we announced the sale of a full-scale gasifier to Air Products, a 
Fortune 500 Company. The Tees Valley project is providing us the opportunity 
to substantiate our technology and engineering in a very big way - not only to 
Air Products, but to the industry as a whole. It is a paradigm shifting 
project in many ways due to its large scale, its more efficient energy 
production and also the fact it is being advanced by a world leading Fortune 
500 company.

The commercialization of Westinghouse Plasma Gasification Technology continues 
to gain momentum, and on October 23rd I was very pleased when Air Products 
announced the development of their second project in Tees Valley of a similar 
size. This facility will be built on adjacent lands which should streamline 
the regulatory process and speaks directly to revenues in 2013. This will put 
Air Products investment into our technology to over $800 million and I cannot 
think of a more compelling vote of confidence we could receive.

This quarter, I had a chance to travel and meet some of our other leading 
customers and was very impressed by their progress and their broad business 
plans using our technology. This included a visit to China where I met with 
Wuhan Kaidi and was able to witness first-hand the large scale demo facility 
that is nearing completion. Although it has been a slow process to this point, 
they are now completing their first plant with aggressive plans for 
construction of additional facilities in China in 2013. I also met SMS 
Infrastructure of India this quarter, which has already built two facilities 
and is advancing a portfolio of additional projects in India and the Middle 
East. Two projects are now in the advanced stages of development and 
regulatory approval and we agreed upon scope and other key business dealings 
during this meeting. I expect both of these customers to accomplish great 
things over the coming years.

As important as talking to the more advanced stage customers, I also had the 
chance to advance negotiations with other customers and developers that we do 
not always mention, in our quarterly reports as we focus on the here and now. 
From many of the other developers in China, India, and Europe I got the 
profound sense that things are moving more quickly than before, and that they 
are on the right track. Our job is to translate this into long-term 
relationships that provide cashflow to the Company for the benefit of our 
shareholders. We are making steady progress.

Part of our growth will be co-investment into projects that are being 
developed by capable partners and have strong financial returns. We will leave 
it to the developers to advance the time-consuming and often expensive process 
of project development in their local jurisdictions. We will focus on the 
options to invest along-side the developers once the projects have achieved 
their major commercial milestones. I have built a career financing energy 
projects and believe this an area where we can add significant shareholder 
value.

Strengthening our balance sheet was important to our long-term success as a 
leading infrastructure technology and I am very pleased to have achieved this 
milestone. From our strengthened foundation, it is now our mandate to 
translate our significant customer base into cashflow, and continue to 
strengthen that customer base. I am very confident from my travels that this 
is not only possible, but inevitable for this technology.

SELECT FINANCIAL RESULTS ($)
                                      

Balance Sheet     September 30, 2012 December 31, 2011
                                                      

Total assets           $ 64,151,840       $ 63,173,939

Total liabilities         25,809,145        20,050,857

Total equity             38,342,695         43,123,082
                                                                       

Income
Statement             Three months ended           Nine months ended
                September 30, September 30, September 30, September 30,
                         2012          2011          2012          2011
                                                                       

Sales            $  3,214,980  $  2,928,468  $  8,556,721  $  5,513,628

Income (loss)
from continuing
operations        (1,622,162)       915,650   (6,012,803)   (3,367,695)

Loss from
discontinued
operations           (65,738)   (6,173,683)     (668,651)  (15,710,993)

Basic and
diluted loss
per share -
continuing
operations             (0.01)          0.01        (0.08)        (0.06)

Basic and
diluted loss
per share -
discontinued
operations                  -        (0.10)        (0.01)        (0.25)
                                                           
                                                           

For more information on the Corporation's financial results please visit 
www.alternrg.com or www.sedar.com to view Alter NRG's 2012 Third Quarter 
Report.

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, but without limiting the foregoing, 
this news release contains forward-looking information and statements 
pertaining to the following: availability and cost of key materials and labour 
and availability of funds with respect to the amount of capital expenditures 
and scheduled commencement of operations; timing of regulatory approval 
including various permits from the applicable government authorities; the 
assessment of capital markets including the availability of debt and equity in 
current market conditions; commodity prices resources that impact the 
Corporation's operations directly and indirectly; extent of investment by 
government authorities in infrastructure projects; the financial and 
operational health of key partners in various projects; the continued 
development of the Corporation's technology and its use in various 
applications and other expectations, beliefs, plans, goals, objectives, 
assumptions, information and statements about possible future events, 
conditions, results of operations or performance. 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; the 
completion of strategic partner's projects; arrangements with key suppliers; 
potential product liability and other claims; other business risks outlined in 
this news release, including risks associated with the proprietary technology; 
the possible unavailability of financing at competitive rates and the related 
effect on development activities; the effect of energy price fluctuations; 
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 Corporation's Annual Information Form dated March 28, 
2012 available at www.sedar.com. 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.

Walt Howard, Chief Executive Officer (403) 
806-3877whoward@alternrg.ca

Daniel Hay, Chief Financial Officer (403) 
214-4235dhay@alternrg.ca

SOURCE: Alter NRG Corp.

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CO: Alter NRG Corp.
ST: Alberta
NI: UTI ERN 

-0- Nov/13/2012 23:43 GMT