FAIRFIELD Conn., Aug. 8, 2012 (GLOBE NEWSWIRE) -- Todays Alternative Energy (OTCBB:TAEC) announced today its entry into contract with Neptune Marketing Technologies LLC (NMT), a New Jersey company. This Letter of Intent is intended to formally express NMT's desire to enter into a project finance agreement, lease and other agreements to facilitate Todays Alternative Energy's projects.
In particular, says Albertus Hendrik van Leiden, CEO of Todays Alternative Energy, this agreement will help to move forward our goal of the development of a 12,000 kW DC PV Polar System in Warren County, New Jersey. This is significant undertaking for the company and its first within its newly formed Solar Division. We are very excited for this project to progress and what it means for Todays Alternative Energy (TAEC) as a "Green" company.
Mr. van Leiden added, "that a typical 1 kW system will avoid 170 lbs of coal being burned and avoid 300 lbs of C02 gasses being released into the atmosphere each year. Now times that by 12,000, the size of our proposed system, and you have a lot of energy being produced, and a lot of harm to our earth being avoided. Protecting our earth for the generations to come has always and will always be a priority of our company. In fact, it is the very mission of our company, it is "who we are". Mr van Leiden further added that a 1kW PV system will on average produce approximately 1600 kW hours of electricity each year. Our planned system, at 12,000 kW, coming in at approximately 35 million dollars in financing, should produce over 19 million kW hours of electricity each year. With the average household using approximately 900 kW hours a month in their home, this project will help to relieve the stress on the current system and reduce the harm being done to the environment by the use of fossil fuels.
We look forward to working with NMT on this project and continue to look for additional partners as our Solar Division grows as a major part of our company.
Todays Alternative Energy Corporation (TAEC) is a public company that has specialized in exploring for new green, non fossil fuel energy sources which benefit their clients while causing no harm to our planet.
If you are interested in learning more about this innovative company, please reference their stock symbol TAEC or visit our website at www.taec.biz or contact us by email at info@taec.biz.
Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of federal securities laws including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions. Although the Company believes that the statements were reasonable when made, these forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulations.