BOISE, Idaho, June 22, 2010 (GLOBE NEWSWIRE) -- Alternate Energy Holdings, Inc. (OTCQB:AEHI) today announced the company has entered the final stage of gaining local approval to build a nuclear power plant after officially filing a rezone application this morning.
"This is the final step at this level and a major milestone for AEHI because we've gotten to this point in a relatively short amount of time. Often this process can drag on for more than a year, and we've been able to reach this stage in about six months. I believe it demonstrates the desire Payette County residents have to build a nuclear power plant here," said Don Gillispie, AEHI CEO.
Recently the Payette County Board of Commissioners unanimously approved a county-wide zoning change, which makes this final step possible. The decision to do so was custom-designed for AEHI, because commissioners made the change specifically for a nuclear power plant; meaning the property in question could be rezoned from agricultural to industrial, but only if a nuclear power plant is built there.
"We are excited for the process to move forward and based on our success in previous hearings it shouldn't be long before we have all the necessary approvals we need to build a nuclear power plant in Idaho. This is something we've all been working towards for a long time and to see our efforts paying off is a tremendous blessing," said Gillispie.
Prior hearings in Payette County were also met with a groundswell of support from residents. Those who testified in favor of AEHI outnumbered the opposition at least three-to-one during every public meeting. During the last hearing County Commissioners even recognized the statistics, which proved a consistent level of support that in some cases surpassed 80 percent.
"People want this plant, the numbers prove it. It is interesting that our local support seems to match, and even surpass the national average of those who say 'we need more nuclear power plants in the United States.' It is the only clean method available of producing baseload power, one that will also provide the jobs and revenue we desperately need as a country," said Gillispie.
During construction the Payette County Plant, also called the Idaho Energy Complex, is expected to bring $5.3 billion to Idaho, which is about 10 percent of the State's gross domestic product. The project will create more than 5,000 jobs, which average $60,000 during construction and $80,000 during operations.
About Alternate Energy Holdings, Inc. (http://www.alternateenergyholdings.com/) -- Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral™, which removes energy demands from homes and businesses (http://www.energyneutralinc.com/), Colorado Energy Park (nuclear and solar generation), and Green World Water™, which assists developing countries with nuclear reactors for power generation, production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power. AEHI signed a memorandum of understanding with Hyperion Power Generation. The MOU is the beginning of a joint venture between the two companies to license, build and market Hyperion's refrigerator-sized modular nuclear reactors on a world-wide basis.
"Safe Harbor" Statement: This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although AEHI believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate. As a result, investors should not place undue reliance on these forward-looking statements.