KANSAS CITY, Mo., Dec. 12, 2006 (PRIME NEWSWIRE) -- Kansas City-based Alternative Energy Sources Inc. (OTCBB:AENS) today announced the appointment of Douglas D. Wilner to its board of directors.
He is managing partner of D. Wilner & Associates LP and president and chief executive officer of U.S. Syngas Inc. Wilner has more than 25 years of senior management experience in the energy business, including developing projects and founding several private companies. He has developed and financed projects for a range of sponsors, developers and trading companies, including energy merchants Duke and LG&E, electric cooperatives Associated Electric and Oglethorpe, and large industrial firms.
"With his strong background in project development and finance, Doug will be a great addition to our board," stated Mark Beemer, AENS president and CEO. "We believe ethanol will share many parallels with other commodity industries like merchant power."
In the 1990s Wilner founded and served as the president and CEO of Pipeline Power Partners LP, a Robert Bass Group company. He also participated in developing a series of gas-fired, combined-cycle power plants, and developed and financed power projects using natural gas, coal and various biomass sources. In addition, he was the first president and CEO of Enron Power Capital.
In 1981 Wilner was a member of a team that developed and financed one of the first merchant ethanol facilities, a plant in Walhalla, N.D., which is currently owned by Archer Daniels Midland. He began his energy career in 1979 at the Tennessee Valley Authority, managing its entry into alternative energy.
Wilner holds a bachelor's degree in chemistry and biology from Drew University, Madison, N.J., and completed coursework for a Ph.D. as the National Institutes of Health fellow in biochemistry at Western Reserve University (now Case Western).
About Alternative Energy Sources Inc.: The company is developing "greenfield" sites, including constructing, owning and operating fuel-grade ethanol plants. The management team has extensive experience in agricultural processing, grain trading, railroad negotiations, logistical economics, construction, acquisitions and operating as a public company. The founders have extensive management and leadership experience, including serving in executive management positions with agri-processing giant Archer Daniels Midland Co., the largest producer of ethanol. For more information go to http://www.aensi.com.
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Forward-Looking Statements: This news release contains "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, including without limitation those statements regarding the company's ability to exploit ethanol development and production opportunities. These statements are expressed in good faith and based upon a reasonable basis when made, but there can be no assurance that these expectations will be achieved or accomplished. You can identify these statements by the fact that they do not relate strictly to historic or current facts. They use words such as "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target," "forecast" and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but not limited to, our inability to secure or generate sufficient operating cash flow to adequately maintain our generating facilities and service our debt, commodity pricing, intense competition for undervalued generating assets, environmental risks and general economic conditions and other financial, operational and legal risks and uncertainties detailed from time to time in the Company's SEC filings. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release, other than as may be required by applicable law or regulation.