Moderated By: TheSlowLane -- (Moderated) -- Started: 1/9/2012 6:23:46 AM Revision History
TSE: NRG | OTC: ANRGF
Alter NRG sells plasma gasification solutions that convert waste-to-energy (WTE), generating synthetic fuels from municipal waste. Gasification is a process that uses extremely high temperature plasma torches but it is not incineration. The technology was developed over the last few decades by Westinghouse Plasma Corporation. That business unit was spun out and then later acquired in its entirety by Alter NRG. Alter NRG has been restructuring the company to focus exclusively on gasification. This has included selling off a coal property and moving the geoexchange business into a separate entity of which Alter NRG is the primary shareholder.
In December 2011 the company announced that it had signed a deal with Air Products for a $22MM gasifier to be located in Tees Valley in the UK. This is the first of five that Air Products intends to build and is representative of the type of larger deal that Alter NRG is currently pursuing. In the Fall of 2012, Air Products announced that a second plant of the same scale is now planned for the Teesside location.
Highlights
Resources
Company web site
YouTube videos
Raymond James research reports
Quote for OTC listing (ANRGF)
DOE page on Alter NRG/Westinghouse Plasma
Wikipedia page on plasma gasification commercialization
Partner sites/info: Air Products - AFC Energy - Coen Company - Linde - Phoenix Energy - Plagazi - Rentech - SMS Infrastructure Ltd - Waste2Tricity - Wuhan Kaidi
Charts: Daily - Weekly
Other Gasification Companies: Energos | Enerkem | Plasco Energy Group | Plasma Power, LLC | Recovered Energy, Inc. | PyroGenesis | Spreadsheet - Gasification Companies
Other Resources:
Cleantechnica | Hydrogen Fuel News | Gasification Technologies Council
CEO's Message from 2012 Annual Report
A year after taking the helm at Alter NRG I am very pleased with where we are today, and with the future of the Company. Currently, there are three Westinghouse Plasma Gasification facilities under construction or commissioning, we have attracted the attention of industry leading industrial and engineering companies worldwide, and we have strengthened our balance sheet with a strategic long-term investor. We exit 2012 as a strong Company which includes great people, a world-leading technology and a strong customer base - we are well positioned for continued growth and increasing profitability.
In my career, I have been involved in a handful of tipping point technologies. These are technologies that were poised to change the current paradigm - to make things better and more efficient. This was true of other energy technologies with which I have been involved in bringing to industry-wide acceptance. While recognizing that the adoption time for revolutionary approaches is not measured in weeks or months, I believe that our Westinghouse Plasma Corp. technology has passed the tipping point - it genuinely is world class and can change the face of the waste disposal industry.
Late last year we announced the sale of a full-scale gasifier to a large Fortune 500 Company that will produce 50 Megawatts of electricity; a major commercial tipping point. The Tees Valley project is providing us the opportunity to substantiate our technology and engineering in a very big way - not only to Air Products and Chemicals, but to the industry as a whole. It is a paradigm shifting project in many ways as it is more energy efficient than current waste treatment methods, has a much better environmental footprint as well as being at significantly larger scale than previous plasma gasification facilities.
This project has provided the breakthrough which has brought us many opportunities that we intend to translate into shareholder value in the coming years. We are the clear industry leader providing a solution to both large-scale waste management challenges, and also our increasing need for energy. The good news is that large, capable companies are actively seeking out our technology. That is tempered by the reality that these are long lead time projects and will take time to develop. Therefore, the fact that we are past a tipping point will be most clear in hindsight in coming months.
This point was not just reached by a single project. The success story is supported by 20 years of innovative thinking, R&D and hard work by many people inside of Westinghouse, and also Alter NRG. Our commercial facilities in Japan and India are a crucial part of that history and continue to play a vital role in our advancement. We continue to take potential customers to these facilities so they can witness firsthand the technology in action, however, the customers today are much more sophisticated and well-funded than before. Our strategy is to continue to partner with companies that have the proven capability and the capital available to execute. We are pleased that many of them have invited us to co-invest in the projects. It is outstanding progress to have three facilities under construction simultaneously and speaks volumes as to how this technology is penetrating the waste to energy market. Two new facilities are currently under construction in China (both with numerous follow-on opportunities), two additional facilities are now in regulatory approvals in India by our strategic customer in that jurisdiction, and our Fortune 500 partner in England has announced its second project going into its regulatory process. We are past the point of widespread acceptance, and are now adding to our list of capable strategic customers.
Part of our growth will be co-investment into projects that are being developed by capable partners and have strong financial returns. As an innovative and paradigm changing technology, most developers welcome the core technology provider as a project owner. However, we are not the developer - that is a time-consuming and often expensive process best left to larger institutions and specialized local teams. We have options to invest alongside the developer once the projects have achieved their major commercial milestones including regulatory approvals. My history of financing energy projects tells me this is an area where we can add significant shareholder value.
The Westinghouse Plasma Technology has passed the commercial tipping point making me confident that we will execute on significant commercial contracts in 2013. Worldwide, energy and waste management solutions are in demand; critical demand in some cases and with a disciplined approach Alter NRG is uniquely positioned to grow and be successful, and to build value for our shareholders. We are charting a path to success for our company, our customers and our shareholders.
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