IDAHO FALLS, Idaho, Feb. 1, 2005 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) (OTCBB:IESV), a renewable energy company, announces that its biogas facility at the Whitesides dairy has achieved its production goal two months after starting up the plant. The flow of biogas significantly exceeds the 30 cubic feet per minute yield the company had predicted for the two-digester tank system.
This is a significant milestone in the company's business plan. Specifications for gas conditioning equipment, that will bring the Methane to pipeline quality, are now being established based on actual gas yields. Preparations are underway to begin using produced biogas as process heating for the digesters, eliminating the use of expensive natural gas.
Commercial production and sales of Methane gas will allow, from processing animal waste, ITR to rapidly become a leader in the burgeoning "Methane to Market" partnership that was formed in July 2004 when the United States and 12 other countries formed an alliance to encourage the recovery and use of methane as a clean energy source. Recovery of Methane gas from municipal landfills, coal beds and animal waste from dairy cows are the primary constituents of the partnership. Capturing Methane gas from animal waste is a significant opportunity in the United States considering there are 8,950,000 dairy cows, 11,000,000 cattle on feed, 60,000,000 hogs and millions of poultry currently existing in the U.S.
The purpose of the U.S. initiated Methane to Markets Partnership is to create international cooperation to advance the recovery and use of methane as a clean energy source and allow for energy security. Added benefits to the use of renewable Methane gas are, enhance economic growth, enhanced environmental quality and substantial reductions in greenhouse gas emissions. The focus of the Partnership will be on the development of national strategies and markets for the recovery and use of methane through technology demonstration and deployment, identification of means to support private sector investment, implementation of effective and non intrusive policy frameworks.
The Partnership has the potential to decrease methane emissions by 50 million metric tons by 2015, the equivalent of taking 33 million cars off the road for a year or eliminating 50 coal fired electric plants. However it will impact more than just the environmental arena. The agreement opens the door for businesses with a leading edge in methane capture and energy production technologies. ITR is committed to becoming one of the first to reach this market in the U.S., through processing animal waste, and insure a significant competitive advantage.
Other partners are Argentina Australia, Brazil, China, Colombia, India, Italy, Japan, Mexico, Nigeria, Russia, Ukraine and the United Kingdom.
About Intrepid Technology: We are a 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.
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 general economic, competitive, governmental and technological 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.