IDAHO FALLS, Idaho, Jan. 29, 2004 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) (OTCBB:IESV), a renewable energy company, today provided further guidance on the flagship methane gas facility to be located near Rupert, Idaho.
ITR is well into the design of Idaho's first natural gas production plant that will process dairy manure through a proprietary anaerobic digestion facility and on track to begin construction on March 30, allowing for Idaho's spring ground thaw to begin. The company will own the plant and expects to see the first gas production in late July. About half the gas will be used at the dairy, and the other half sold to customers who are currently using propane for their energy source. Maximum production potential from this facility is 28 million cubic feet of gas per year, equilivant of 335,000 gallons of annual propane production. In Idaho alone, 50,000 gallons of propane are used daily.
The company is pursuing additional digester facilities with dairy and feedlot operators in the western United States. The driver behind the company's aggressive pursuit of biogas generation is the constant increase in cost of energy supplies. The cost of natural gas to the consumer has increased 80% over the last ten years. The volume of imported natural gas via tanker ships continues to increase as the country's dependence on foreign petroleum grows. ITR believes domestic prices of energy will continue to see significant growth over the next ten years. The biogas industry in Idaho alone has the potential to generate tens of millions in annual revenue due to its robust dairy and cattle feedlot operations.
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.
Certain statements contained herein constitute "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, and are subject to the safe harbors created thereby. While the Company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein. Further, the Company assumes no obligation to update or otherwise publicly revise the forward-looking information disclosed herein to reflect circumstances existing after the date hereof.