IDAHO FALLS, Idaho, April 29, 2004 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) (OTCBB:IESV), a renewable energy company and Cannon Builders Inc. of Blackfoot, Idaho jointly announce today that construction of ITR's flagship anaerobic digester and biogas plant is well underway in Rupert Idaho and that the construction portion of the plant will be completed well before July 31, 2004.
Mr. Joe Cannon, president of Cannon Builders Inc. stated his company's enthusiasium for the project: "Cannon Builders and I personally are pleased to be a cornerstone of a revolutionary technology that will positively affect the United States energy markets in such a dramatic fashion. ITR is anticipating that the total revenues they will generate just in southern Idaho will exceed 50 million dollars in annual energy sales by 2008." Mr. Cannon further stated, "The positive economic effect this will have on Idaho's and the nations Dairy and Energy industry is immense."
Dr Dennis Keiser ITR's chairman added, "The economic impact of this project to ITR and its shareholders is tremendous. With the new additional distribution and compression capabilities we have acquired in the WOBF Venture Partners acquisition ITR is uniquely positioned to become a significant contributor to successfully solving the rapidly escalating and volatile world energy prices. We represent a company with an unlimited commodity, industrial and animal waste, a proprietary digestion or refining system to turn the commodity into green energy and the added capabilities of distributing that product and guaranteeing the future delivery price for as far out as a decade. No other energy company in the world can do that today and we are on the verge of making this happen."
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.
Statements released by Intrepid Technologies and Resources that are not purely historical are forward looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.