KANSAS CITY, Mo, Feb. 14, 2007 (PRIME NEWSWIRE) -- Kansas City-based Alternative Energy Sources Inc. (OTCBB:AENS) today announced its selection of The Courtney Group LLC, an investment-banking firm, as its financial adviser.
The Courtney Group will provide services that include assisting AENS in its business and financing strategy, negotiations on long-term contracts with customers and suppliers, and raising debt and equity capital in support of its business plan to build ethanol plants.
"We chose The Courtney Group not only because of the team's outstanding track record in advising companies on strategy and financing, but also because of their focus on energy, power, renewable fuels and alternative waste management technologies," said Mark Beemer, CEO and chairman of the board of AENS.
The Courtney Group is involved in both investment banking and private equity investing. In investment banking, the firm specializes in raising capital and mergers & acquisitions. The Courtney Group has a private equity investment affiliate, Nautilus Renewables LLC, dedicated to project financings and buyouts in renewable energy and alternative waste management technologies.
The Courtney Group team has experience completing more than 300 financings totaling over $7 billion, including experience at prior firms as both advisers and principals. The company is a member of NASD and SIPC and has its headquarters in Newport Beach, Calif.
"We have looked at a number of companies in the ethanol marketplace and believe that AENS has one of the best management teams in its industry," said Thomas W. Courtney Jr., president of The Courtney Group. "We believe that AENS is positioned to be one of a handful of large players that will be the ultimate winners in the ethanol industry, which is a $6 billion market today and is expected to triple by 2010."
Since August 2006 AENS has announced plans to build ethanol plants in Ogden, Iowa, and in Kankakee, Ill., and Greenville, Ill.
AENS is developing "greenfield" sites, including constructing, owning and operating fuel-grade ethanol plants. For information: www.aensi.com.
The Alternative Energy Sources Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2961
For information about The Courtney Group LLC visit www.thecourtneygroup.com.
Forward-Looking Statements: This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, These statements are based on management's expectations, estimates, projections and assumptions. You can identify these statements by the fact that they do not relate strictly to historic or current facts. They use words such as "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target," "forecast" and similar words in connection with any discussion of future operating or financial performance. Forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed including, but not limited to, our inability to secure or generate sufficient operating cash flow to adequately maintain our generating facilities and service our debt, commodity pricing, intense competition for undervalued generating assets, environmental risks and general economic conditions and other financial, operational and legal risks and uncertainties detailed from time to time in the Company's SEC filings. Any forward-looking statements speak only as of the date of this release. We assume no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the release date.