UTICA, N.Y., July 7, 2003 (PRIMEZONE) -- Life Energy & Technology Holdings, Inc. (OTCBB:LETH) (Deutsche Borse DE:LFT) has entered into an Agreement with Viatka Scientific Archive Commission of Kirov, Russia to sell two MKII Biosphere Process(tm) Systems for USD $16 million. The contract provides for a 25% down payment with the balance being funded by a lender. The systems will be installed in the Kirov Region of Russia, where they will generate up to 10 MW of electricity per hour. The fuel source will be Municipal Solid Waste (MSW).
About Life Energy & Technology Holdings Inc. (http://www.le-th.com)
Life Energy is rapidly becoming a leader in the environmental infrastructure and electricity co-generation markets. Life Energy's unique proprietary technology, EcoTechnology(tm)(2), supplies energy through a profitable and environmentally safe process. The Biosphere Process(tm) System, a central part of the EcoTechnology(tm) system, safely and efficiently, processes traditional and non-traditional waste materials into electricity and other beneficial by-products. The Biosphere Process(tm) assists in solving the global waste problem by converting into clean, green electricity such waste materials as: Municipal Solid Waste (MSW), agricultural, effluent, medical, industrial, shale oil, sour natural gas and many other traditional and non-traditional waste materials.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words ``may,'' ``would,'' ``will,'' ``expect,'' ``estimate,'' ``anticipate,'' ``believe,'' ``intend,'' and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
(1) Biosphere(tm), Biosphere Process(tm), Biosphere System(tm), Biosphere Venturi(tm) & Biosphere Densifier(tm) are all trademarks of the Life Energy Partnership 1994.
(2) EcoTechnology(tm) is a copyright trademark of the Life Energy Partnership 1995 and Company