FT. LAUDERDALE, Fla., March 4, 2010 (GLOBE NEWSWIRE) -- Alternative Energy Partners, Inc. (OTCBB:AEGY) announces that it has entered into a definitive Agreement to acquire Sunarias™ Corporation (www.sunarias.com) from Healthcare of Today, Inc. (www.healthcareoftoday.com).
Sunarias™ Corporation ("Sunarias™") provides on-site solar thermal energy production, marrying absorption chilling and solar thermal technologies to provide commercial buildings with energy efficiency at a lower cost. In this way, it assists commercial entities in hedging against exorbitant utility costs, and may be appropriate for use by schools, hospitals, or municipal buildings, among others.
The Sunarias™ business model is unique in that the company retains ownership of the solar power equipment. Sunarias™ places chillers and troughs on a client's building, without a capital outlay, but rather a long-term agreement to buy power from the company at a reduced price for the term of the Power Purchase Agreement. The result of this system is that clients may pay less for their energy use than they might through a traditional utility. Due to new energy reduction mandates (including CA AB 32), demand for alternative energy systems such as that offered by Sunarias™ is strong.
Sunarias™ CEO Gary Reed says, "AEGY will be a wonderful home for Sunarias and we look forward to being part of AEGY's mission to bring the most innovative alternative energy options directly to consumers."
Alternative Energy Partners' CEO Jack Stapleton says, "We are excited about acquiring Sunarias as part of our commitment to meet the growing demand worldwide in the alternative energy sector."
About Healthcare of Today, Inc.
Healthcare of Today, formed in 2008, acquires and develops companies primarily within the healthcare industry. Through its many subsidiaries, Healthcare of Today owns and operates a number of vertically-integrated businesses including: adult stem cell research and development technology, advanced human tissue engineering, medical device technology, medical and home healthcare equipment sales, hospice care, residential care facilities for the elderly, home healthcare services, nurse and therapist staffing, healthcare information technology, healthcare consulting, insurance, medical billing, data protection and security. For more information please visit www.healthcareoftoday.com.
About Alternative Energy Partners, Inc.
Alternative Energy Partners, Inc. ("AEGY"), founded in 2008, initially focused on sourcing, marketing and distributing renewable biofuels and alternative energy products. The Company has expanded its focus on other potential opportunities in the "green" alternative energy sector which compliment the Company's business model. The Company is currently based in Fort Lauderdale, Florida.
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