IDAHO FALLS, Idaho, Feb. 9, 2005 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) (OTCBB:IESV), a renewable energy company, is now producing combustible gas from ITR's flagship bioreactor.
ITR today announced that the Methane gas being produced at the Whitesides bioreactor located near Rupert, Idaho is now being used as process heat in the anaerobic digester replacing previously utilized expensive propane.
ITR President Dr. Keiser stated, "This is obviously a significant step in demonstrating the commercial viability of our Methane to market technology where clean gas is produced and sold for residential, industrial or transportation applications. This technology and our proprietary processes and this first use of our gas bring us significantly closer to actual gas sales. The hydrogen sulfide equipment is working exceptionally well and the biogas being produced is absolutely odorless after processing."
Dr. Keiser also noted that four of the six Directors of the company have purchased over one million five hundred thousand shares of the company's common stock over the last 60 days. Over the last 2 years no officer or Director of the company has engaged in any sales. "This is again a validation of the confidence that the companies decision makers are placing in our goal of becoming a significant part of the nations drive towards energy independence through alternate energy sources."
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.