IDAHO FALLS, Idaho, March 8, 2004 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) a renewable energy company (OTCBB:IESV) has chosen to establish a test center for development and commercialization of technology for utilization of biogas that is produced from animal and food processing waste.
In January, ITR announced that it was building an anaerobic digestion complex to refine animal waste generated at a 4,000 head dairy located north of Rupert, Idaho. While this site is largely dedicated to the commercial sale of refined Methane gas products, a portion of the complex will be dedicated to energy studies on a user fee basis. ITR will use the center to verify the economics of the various types of value added gas products that can be produced.
ITR will generate, from the 1st two previously announced facilities, in the neighborhood of 1.4 million in annual revenue. Those two facilities represent less than three percent of the available supply in the Magic Valley area of Idaho. ITR recognizes that it may have substantially understated the economic potential of this renewable energy field. ITR believes that their methane gas can be economically converted into compressed natural gas (CNG) or liquid natural gas (LNG) for which there is an unlimited market within a 100-mile radius of Magic Valley. The difference in the retail price between Methane gas and LNG is as much as 300%.
Partnerships are already being established with universities, national laboratories and commercial companies. Several million dollars of grants and fees are anticipated from these partnerships over the next several years. Dr Lamar Johnson, Director of the Company's Science and Technology Division, will be acting Director and the facility will be operated as a profit center.
ITR will begin construction of the first biogas facility within the next few weeks, weather permitting, and anticipates commercialization by summer.
About Intrepid Technology: We are a premier technology application innovator of Biogas, bio-diesel and Ethanol products and services 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.
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