BOISE, Idaho and BEIJING, April 20, 2010 (GLOBE NEWSWIRE) -- BOISE, IDAHO and BEIJING, CHINA – April 20, 2010 – Alternate Energy Holdings, Inc. (OTCBB:AEHI) today announced that its subsidiary AEHI China signed an agreement to work with Dalian Shipbuilding and Equipment Manufacturing Company, Ltd. ("DSIC EM"), a subsidiary of China National Nuclear Corporation ("CNNC"), to qualify and market various large-sized manufacturing components for use in the international energy industry. These components include but are not limited to nuclear reactor containment liners, desalination units, pressure vessels, storage tanks and offshore wind power equipment.
Don Gillispie, AEHI Chairman and CEO, said, "For over 20 years, the Chinese have built and successfully deployed large-scale industrial energy components for domestic power projects and have now obtained the necessary international qualifications, setting the stage to compete effectively in the global energy equipment market. AEHI began work in China several years ago, encouraging and assisting Chinese manufacturers such as DSIC to meet western engineering and quality standards. Chinese involvement in this industry will help to reduce the cost of large-scale energy components while meeting the highest standards. Similar to other industries in which the Chinese have been involved, lower costs will improve the overall economics of large-scale power production, including nuclear power, as well as needed desalinization projects globally. The nuclear industry is gaining widespread acceptance as the preferred and most viable solution for meeting growing global demand for base load power in an environmentally friendly manner, and we are excited to be a part of this resurgence. We are very pleased to have reached this agreement with DSIC EM, and we look forward to assisting DSIC EM in introducing their industrial energy manufacturing components to the world."
About Dalian Shipbuilding and Equipment Manufacturing Company, Ltd. ("DSIC EM"). DSIC EM is a subsidiary of China National Nuclear Corporation ("CNNC") and a wholly-owned subsidiary of Dalian Shipbuilding Industry Co. Ltd. ("DSIC"). The Company was established and granted a business license on December 17, 2009. Representing DSIC in the heavy industry sector, DSIC EM is working to become a leader both domestically and internationally in the heavy industry sector with large-sized packaging equipment capabilities. The company is focused on eight product categories: nuclear power equipment; boiler and pressure vessels; sea water desalinization equipment; large industrial facilities; heavy lifting equipment and harbor facilities; steel structures for buildings; wind power and energy saving/environmental protection equipment; and shipbuilding and offshore engineering project equipment.
About Alternate Energy Holdings, Inc. (http://www.alternateenergyholdings.com/) -- Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral, which removes energy demands from homes and businesses (http://www.energyneutralinc.com/), Colorado Energy Park (nuclear and solar generation), and International Reactors, which assists developing countries with nuclear reactors for power generation, production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power. AEHI Korea, Seoul, is assisting KEPCO (Korea Electric Power Corporation) to export their APR 1400 reactor into the U.S. and achieve NRC design certification.
"Safe Harbor" Statement: 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. As a result, investors should not place undue reliance on these forward-looking statements.