18.5.2007: Meldung: Alternative Energy Sources Inc.: $10 Million in Tax Credits, $23 Million in Tax-Exempt Bonds

Alternative Energy Sources Announces $10 Million in Tax Credits, $23 Million in Tax-Exempt Bonds
Thursday May 17, 2:14 pm ET

KANSAS CITY, Mo., May 17, 2007 -- Kansas City-based Alternative Energy Sources Inc. announced that this morning the Iowa Department of Economic Development approved the award of $10 million in investment tax credits to AENS.

The company also announced the issuance of $23 million in tax-exempt bonds. The Iowa Finance Authority had provided a letter of inducement for the bonds earlier this year. These bonds, along with the tax credits, will advance the company"s plans to build its proposed 110-million-gallon ethanol plant near Ogden, Iowa.

The latest award includes sales tax exemptions for building materials. Tax benefits are through the High Quality Job Creation program because the plant is expected to create 50 jobs. IDED also approved Boone County"s $7.5 million tax abatement.

``Today, Iowa"s renewable energy economy grows even stronger,"" said Mike Tramontina, director of the Iowa Department of Economic Development. ``This award for Alternative Energy Sources will help to create high-quality jobs for Iowa workers and further the state"s reputation as the renewable energy capital of the world. We are proud to welcome Alternative Energy Sources to Iowa.""

In January AENS announced that the Iowa Department of Transportation had approved a total award of $239,000, including a grant of $144,500 and a loan of $94,500, both to be used for Union Pacific railroad infrastructure for the Ogden plant.

``This has been a tremendous collaborative effort with Ogden, Boone County and the state of Iowa, including the IDED and IFA,"" noted Mark Beemer, AENS"s CEO. ``We"re confident about the long-term economic benefits this partnership will create.""

AENS (http://www.aensi.com) is developing ``greenfield"" sites, including constructing, owning and operating fuel-grade ethanol plants.

The Alternative Energy Sources Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2961


Pepperdine & Associates Inc.
Media contact:
Susan Pepperdine
(913) 262-7414

Source: Alternative Energy Sources Inc.
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