IDAHO FALLS, Idaho, April 21, 2005 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) (OTCBB:IESV), a renewable energy company, has selected Cannon Builders as the General Contractor for the civil work on the Westpoint dairy biogas plant located near Wendell, Idaho.
Cannon Builders, Blackfoot, Idaho, was the general contractor on the first biogas plant ITR built in Rupert, Idaho. Cannon will begin site preparation work beginning May 14 with the concrete pad scheduled to be poured by mid June. Additionally Cannon will install the steel buildings necessary for the fifteen 35,000-gallon steel tanks. Completion is scheduled for the October quarter, 2005.
The biogas plant will cost 3.5 million to 3.7 million dollars and financing has been secured with the plant wholly owned by ITR. Production from Westpoint will begin within the first calendar quarter of 2006 with production rates that should exceed 140 million cubic feet of gas per year.
"This is our anchor dairy in Wendell-Jerome dairy region of Idaho and the starting point which will allow ITR to bring as many as 250,000 additional head of cattle into our gas production system," stated ITR's President Dr. Dennis Keiser. We now intend to begin bringing additional dairies and feeding operations into our production system at a much more rapid pace. My goal, within the next year, is to begin construction on the proposed collection line that will allow us to economically collect and process what could amount to over 5 billion cubic feet of annual gas production just from southern Idaho."
Mr. Edwin Southfield of the Westpoint Dairy stated, "We have long prided ourselves on maintaining an operation that uses state-of-the-art equipment and processes while being an environmentally friendly neighbor. This new plant assists us to maintain that tradition while maximizing our economic return from the dairy. I believe that Intrepid's solution to the waste issues surrounding our industry carries extensive long term financial benefits for us and other large dairies."
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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