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Great news on the funding front June 6, 2009

Posted by cleanidahoenergy in AEHI, Investment news.
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AEHI taps experienced energy sector company to fund Idaho nuclear plant site 
Source Capital Group Inc. has extensive experience funding energy-sector projects and will raise an estimated $70 million to primarily fund government license application process

For more information, contact:
Don Gillispie, 208-939-9311
Martin Johncox, 208-658-9100
http://www.alternateenergyholdings.com
Facebook http://groups.to/nuclear
Blog: www.cleanidahoenergy.wordpress.com
Twitter: @aehi

Alternate Energy Holdings Inc., an investor-funded company seeking to build an advanced third-generation nuclear power plant in Elmore County, Idaho, has signed an agreement with Source Capital Group Inc. to raise money for the project.

 The funds will cover land, water rights and engineering services to obtain Nuclear Regulatory Commission approval to construct and operate an advanced nuclear plant in Elmore County, Idaho, estimated to total some $70 million. Every company that has undertaken the NRC application process has successfully completed it and received a construction/operation license.

This is a major step in the process to bring the first commercial nuclear plant to Idaho and the first advanced nuclear plant to the western US that is so in need of clean, low cost base load power to sustain industry and agriculture,” said company CEO Don Gillispie. “We are very pleased to have a company with Source Capital’s experience in raising funds for energy projects on board.”

Source Capital’s Investment Banking Department has extensive experience in energy transactions including Initial Public Offerings, Private Placements, Project Finance, Master Limited Partnerships, Special Purpose Vehicles and Reverse Mergers. Source One has helped companies in traditional fossil exploration and production, as well as a broad spectrum of alternative and renewable energy companies, including Rock Energy and Enerlume Energy Corporation. The company is capable of providing financing from $5 million to $500 million. 

“Mr. Gillispie and his team have an extensive background in the nuclear power industry and have developed a compelling plan to create a new and much needed energy source for the western United States,” said Richard Kreger, Senior Managing Director of Investment Banking for Source Capital. ‘We are excited to bring the merits of their vision to investors in an effort to ensure the success of this worthy project.” 

David Harris, President of Source Capital Group, Inc., affirmed that “clean, low cost energy is one of the most vital areas of focus for our nation’s future.  Source is pleased to have the opportunity to leverage its financial services expertise in the energy sector to raise capital for AEHI and this important initiative.”

 A former offer from Silverleaf Partners of Utah was only applicable to a former proposed site in Owyhee County. Also, several large financial institutions have indicated an interest in financing the construction phase.  

The Elmore County Commission in April heard more than four hours of testimony, most in favor of AEHI’s request to rezone land for the plant, with over 500 supporters packing the hearing room. On Monday, June 8, the commission will discuss and possibly vote on the rezone.

About Source Capital Group, Inc. (www.sourcegrp.com) Source Capital Group, Inc. is a full-service financial institution, specializing in middle-market investment banking transactions, distressed and high yield debt securities, investment management, mortgages, and business lending.  Source has provided equity, debt, and structured finance solutions to both public and private companies in a variety of industries, including energy, oil and gas, telecommunications, technology, biotech, and consumer goods.  Source Capital Group, Inc. was founded in 1992 and is headquartered in Westport, Connecticut, member FINRA / SIPC.

About Alternate Energy Holdings, Inc. (www.alternateenergyholdings.com)
Alternate Energy Holdings develops and markets innovative clean energy sources.  Current projects include the Idaho Energy Complex (an advanced nuclear plant and bio-fuel generation facility, energy-neutral home and business technology (www.energyneutralinc.com), Colorado Energy Park and International Reactors, Inc., which assists developing countries with nuclear reactors for power generation, production of potable water and other suitable applications. 

 

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995:  This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34,which are intended to be covered by the safe harbors created thereby.  Although AEHI believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no    assurance that these statements included in this press release will prove accurate.  

 US Investor Relations:
208-939-9311
invest@aehipower.com

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