IDAHO FALLS, Idaho, Feb. 6, 2004 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) (OTCBB:IESV), a renewable energy company, announces that they have been selected to assist with a group of nationally recognized companies that will be bidding on the Department of Energy's (DOE) Idaho National Engineering and Environmental Laboratory operating and management contract.
Secretary of Energy Spencer Abraham, on January 21, 2004, required that all national laboratories be opened up for competitive bid as required by Section 301(a) of the Energy and Water Development Appropriations Act. These include the Los Alamos National Laboratory, Ames National Laboratory, Argonne National Laboratory, and Lawrence Livermore National Laboratory. ITR is working with the recognized group as a small business company and is providing strategic and business appraisal information for the group under a fixed price contract.
Dr. Dennis Keiser, ITR's chairman, stated: "Our inclusion, by our partners, as a small business validates the capabilities that other national firms see in our professional staff. Being a successful team member of any of the individual National Laboratories contract awards could provide economic and research resources to ITR and a potential platform to exhibit and refine our competencies in biofuels and alternate energy."
Dr. Keiser also stated that the company plans to seek teaming arrangements, as a small business, for all the contracts that will be coming up for bid. It is anticipated that each of these contracts will have significant set asides so that small businesses will play vital roles in the conduct of these contracts. Dr. Keiser went on to say, "Our engineering and technology expertise can be an attractive consideration when being selected as a member of a team competing for one of these contracts." ITR has employees that have spent many years working within the DOE laboratory system.
Another of the attractions ITR brings to these teams is their unique Virtual Science Services Division (VSS), which provides technical consulting services in most areas of science and engineering. VSS can draw off the expertise of over 250 highly sought after professional who work under contract to VSS. Their areas of specialty include Nuclear Physics, Alternate Energy, Chemical Engineering, Nuclear Fuel Processing, Project Management, Sabotage and Terrorism Assessment, Molecular Genetics for Counteracting Bioterrorism and a host of other disciplines all germane to the various National Laboratories successful operations. Overall VSS has expertise in over 75 science and engineering areas.
About Intrepid Technology: We are a premier technology application innovator of Biogas, Ethanol and bio-diesel products that are designed to assist in worldwide energy independence and reduce pollution (Green Energy). All of these are from renewable agriculture feedstock and industrial and agriculture waste materials.
Certain statements contained herein constitute "forward-looking statements" within the meaning the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, 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.