KANSAS CITY, Mo., May 10, 2007 (PRIME NEWSWIRE) -- Kansas City-based Alternative Energy Sources Inc. (OTCBB:AENS) today announced its selection of Wachovia Securities as one of its key financial advisers.
Wachovia will provide strategic and financial advisory services designed to assist AENS in executing its business plan. Since August 2006 AENS has announced plans to build ethanol plants in Ogden, Iowa, and in Kankakee, Ill., and Greenville, Ill.
"We chose Wachovia Securities because of its dedicated team of corporate and investment banking professionals who bring expertise to all facets of our industry. Wachovia can design capital solutions to address our company's specific needs," said John Holland, chief financial officer of AENS.
Wachovia Securities' investment banking practice provides a complete range of financing and advisory services to financial sponsor groups and corporate clients through eight industry groups. In addition to energy and power, these include consumer and retail, financial institutions, healthcare, industrial growth, media and communications, real estate and technology.
In February AENS also announced the selection of The Courtney Group LLC, an investment-banking firm, as a financial adviser.
AENS is developing "greenfield" sites, including constructing, owning and operating fuel-grade ethanol plants. For information: www.aensi.com and www.wachovia.com.
The Alternative Energy Sources Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2961
About Wachovia Securities: Wachovia Securities is the trade name for the corporate, investment banking and capital markets businesses of Wachovia Corp. and its subsidiaries, including Wachovia Capital Markets LLC (WCM) and Wachovia Securities International Ltd. Wachovia Securities is also the trade name for the retail brokerage businesses of WCM's affiliates: Wachovia Securities LLC, Wachovia Securities Financial Networks LLC, Wexford Clearing LLC and First Clearing LLC. Wachovia's proprietary research is branded Wachovia Research.
Wachovia Capital Markets LLC is a U.S. broker-dealer registered with the U.S. Securities and Exchange Commission and a member of the New York Stock Exchange, the National Association of Securities Dealers Inc. and the Securities Investor Protection Corp. Wachovia Securities International Ltd. is a United Kingdom-incorporated investment firm authorized and regulated by the Financial Services Authority.
Forward-Looking Statements: This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements are based on management's expectations, estimates, projections and assumptions. You can identify these statements by the fact that they do not relate strictly to historic or current facts. They use words such as "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target," "forecast" and similar words in connection with any discussion of future operating or financial performance. Forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed including, but not limited to, our inability to secure or generate sufficient operating cash flow to adequately maintain our generating facilities and service our debt, commodity pricing, intense competition for undervalued generating assets, environmental risks and general economic conditions and other financial, operational and legal risks and uncertainties detailed from time to time in the Company's SEC filings. Any forward-looking statements speak only as of the date of this release. We assume no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the release date.