IDAHO FALLS, Idaho, Feb. 15, 2005 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) (OTCBB:IESV), a renewable energy company, has signed a contract with the Idaho Department of Water Resources Energy Office, whereby a $289,000 U.S. Department of Energy grant will be awarded to ITR. The funds will be used to upgrade ITR's Idaho Falls alternative vehicle fuel Compressed Natural Gas (CNG) station. Upon completion, the modifications will transform the CNG station to a state-of-the-art Liquid Natural Gas/Compressed Natural Gas (LNG/CNG) public fueling facility.
The resulting LNG/CNG facility will support vehicles owned by the City of Idaho Falls, the Idaho National Laboratory and mass transit buses being delivered to California customers from their Minnesota manufacturer. Additionally, the station will offer fueling potential for various fleets and individuals currently utilizing natural gas Alternatively Fueled Vehicles. The new LNG/CNG facility will provide the only source of LNG fuel to fleets and travelers on Interstate 15 between the Canadian border and Salt Lake City, Utah, while simultaneously maintaining a commercial outlet for CNG in the same area.
This upgrade will significantly improve the reliability and dispensing capacity of the station and reduce overall system operating and maintenance costs. The CNG/LNG fueling station will also enable ITR to offer service to both LNG and CNG vehicles from a single location.
Aside from the commercial benefits, adding the LNG component to the operation expands ITR's experience in working with the transport, storage and handling of LNG -- a critical strategic component in their biogas production business plan. The third phase will call for developing the capability of liquefying natural gas produced at larger dairy and feedlot biogas production complexes. The LNG that is produced will be utilized by ITR's strategic alliance partner, Applied LNG Technologies USA of Amarillo Texas, for distribution and sale throughout the Western United States.
About Intrepid Technology: We are a national leader in Methane to Market technology and production and an application innovator of Biogas products and services designed to assist in worldwide energy independence and reduce pollution from renewable agriculture feedstock and industrial and agriculture waste materials.
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