IDAHO FALLS, Idaho, Nov. 18, 2003 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. a renewable energy company (OTCBB:IESV), has been awarded, over the last 4 weeks, contracts valued at approximately $680,000 from Bechtel Babcock Wilcox, Portage Environmental, Oak Ridge Associated Universities and others. These contracts continue to show the strong growth trend of the company and the quality of the firms working partners.
The company's Chairman, Dr. Dennis Keiser, in making the announcement also noted that the company is in talks with an end user for its Biogas development in South central Idaho. Dr. Keiser noted: "The Biogas market could potentially be the largest component of the total biofuels industry. Billions of tons of waste are produced from animal feeding and food processing operations in the US each year that could potentially be converted into methane by anaerobic digestion. It has been estimated that the methane generation capacity of this waste could provide enough energy to equal 16 times the total annual US energy consumption. With an effective and efficient capture and conversion of that energy (utilizing currently available technology), this could equate to a several billion dollar market per year in the US within 10 years.
"There is an additional economic benefit to be derived from Biogas production on a commercial scale, and that is the extra revenue that can be generated from 'green credits.' By 'green credits' we refer to financial incentives to increase the production of electrical energy from environmentally friendly (hence 'green') renewable sources. These credits (which take the form of CO2 credits, 'green tags' and straight 'green credits') result in extra payment for the methane gas that is produced because some energy customers are willing to pay extra money to reduce carbon dioxide emissions and ease global warming pressures. It is possible that additional revenues approaching 20-30% might be obtained from these credits."
Certain statements contained herein 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, and are subject to the safe harbors created thereby. While the Company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein. Further, the Company assumes no obligation to update or otherwise publicly revise the forward-looking information disclosed herein to reflect circumstances existing after the date hereof.
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CONTRACT: Intrepid Technology
Steve Ellis/ Investor relations
(208) 529-5337