BOISE, Idaho, Nov. 2, 2010 (GLOBE NEWSWIRE) -- If Republicans win big in today's election, as expected, they won't be the only victors. "The other big winner will be nuclear power," predicts Don Gillispie, CEO of Alternate Energy Holdings, Inc. (OTCQB:AEHI), (www.aehipower.com), a Boise-based company that seeks to build new nuclear power plants and nuclear desalination systems. "After today, we should see a resurgence of the industry, the likes of which we haven't seen in 30 years."
The reason: The likely GOP winners are far stronger supporters of nuclear power than Democrats and most Democrats who will remain are likely to be pro nuclear. "This is true not just in Congress, but also in governors' offices and state legislatures," Gillispie explains.
If Republicans take back the House of Representatives, for instance, the new Speaker of the House will be Representative John Boehner (R-OH). Boehner is a strong proponent of nuclear power and he wants to lift the current ban on using Yucca Mountain. "That would go a long way towards easing public concerns about the storage of spent fuel," says Gillispie.
Boehner has plenty of company. The list of candidates for the House and Senate pushing for a nuclear resurgence is a long one. In Wisconsin, Republican businessman Ron Johnson is challenging Democratic Senator Russ Feingold. "Johnson is on record as saying that the expanded use of nuclear power would greatly reduce emissions while helping the economy move forward," says Gillispie. Running for Arizona's 3rd district, Republican Ben Quayle says roadblocks to nuclear energy are disastrous and need to be removed. In Oregon, Art Robinson, the GOP challenger to Democratic incumbent Representative Peter DeFazio, believes that expanding nuclear power can help prevent oil spills like the one in the Gulf of Mexico. And in Iowa, Mariannette Miller-Meeks, the Republican challenge for Representative, says nuclear power is the only viable baseload replacement for coal. "The new Congress will be more pro-nuclear than any Congress we've seen in decades," says Gillispie, who's seen many swings of the political pendulum in his 45-year career in the nuclear industry.
It's not yet clear if Republicans will also take back the Senate, but the stronger GOP presence in both Houses of Congress - combined with the more pro-nuclear Democrats—means that any deal stuck on energy policy will almost certainly include a big boost for nuclear power, says Senate Republican leader Mitch McConnell (R- Ky). "We can expect to see faster regulatory approvals, more money in loan guarantees, and other policies that will jump-start the nuclear renaissance," says Gillispie. "The more favorable federal climate for nuclear will also stimulate an explosion of private capital for new plants."
The more auspicious climate will reach down to the state level. In Wisconsin, both candidates for governor - Milwaukee Mayor Tom Barrett, a Democrat, and Milwaukee County Executive Scott Walker, a Republican - say they will support lifting the ban on the construction of new nuclear power plants in the state. In Maine's gubernatorial race, Republican mayor and Tea Party favorite Paul LePage is welcoming nuclear power plants to the state. And in many elections for state legislatures, the balance will also tip dramatically towards candidates who favor nukes. "If Republicans win more governors' races and expand their power in state legislatures, as expected, we're going to see many more nuclear-friendly policies in the states," says Gillispie. "The new leaders understand that nuclear power is not only the right energy choice, it's also a powerful engine for local economic growth."
The bottom line: "When the history of nuclear power is written, November 2, 2010 will be a major turning point for the industry," says Gillispie. "It will mark the beginning of a dramatic resurgence for nuclear power."
About Alternate Energy Holdings, Inc. (http://www.aehipower.com): Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral™, which removes energy demands from homes and businesses (http://www.EnergyNeutralinc.com) and Green World Water™, which assists developing countries with nuclear reactors for power generation (http://www.GreenWorld-H2O.com), production of potable water and other suitable applications.
The Alternate Energy Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8058
Safe Harbor Statement: This press 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, as amended. The words "believe," "expect," "anticipate," "project," "target," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events, including our ability to list on a national securities exchange. These statements are based on the beliefs of our management as well as assumptions made by and information currently available to us and reflect our current view concerning future events. As such, they are subject to risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: our significant operating losses; our limited operating history; uncertainty of capital resources; the speculative nature of our business; our ability to successfully implement new strategies; present and possible future governmental regulations; operating hazards; competition; the loss of key personnel; any of the factors in the "Risk Factors" section of our Annual Report on Form 10-K for the most recently completed fiscal year; and any statements of assumptions underlying any of the foregoing. You should also carefully review the reports that we file with the SEC. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law.
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