BOISE, Idaho, Sept. 23, 2010 (GLOBE NEWSWIRE) -- Alternate Energy Holdings, Inc. (OTCQB:AEHI) (), a developer and marketer of innovative clean energy sources based in Eagle, ID, today announced it has garnered broad-based support for its plans to build a nuclear power plant in Payette County, Idaho and that AEHI has now received endorsements from the mayors of every city in Payette County. Those cities include Payette, Fruitland and New Plymouth.
New Plymouth is the closest town to the proposed site; a town in which the mayor and city council both signed a letter of support for AEHI.
"We need what AEHI can bring to our community. It's the very reason the New Plymouth City Council and I publicly endorsed AEHI after thoroughly investigating the company, its leadership and the potential outcomes of building a nuclear power plant. Nuclear power has been proven safe, extremely clean and it's an industry that will employ thousands of people, which will only benefit our local economy and standard of living," said Joe Cook, Mayor of New Plymouth, Idaho.
"I have been extremely impressed with AEHI and their management team since they first proposed building a nuclear power plant in our county. Company officials have been very upfront in communicating their plans on how they will build a nuclear power plant. And I, for one, am excited at the prospect of having it here, where it will have a positive effect on our towns, the county and more importantly, the people who live here," said Ken Bishop, Mayor of Fruitland, Idaho.
Jeff Williams, Mayor of Payette, adds, "AEHI is a company that asks the question, 'What does this country need to do to build on the principles that our founding fathers drafted when they created our Constitution.' With the creative thinking, innovative minds that I have talked to in AEHI's leadership team; I believe they have the ability to ask the right questions, work through the challenges and create a business plan that will benefit not only Payette County and the State of Idaho, but the United States of America. More Government IS NOT the answer to our national challenges; rather forward thinking businesses, like AEHI, will once again be the driving force to achieve prosperity in this great country. At the local level, prosperity means jobs and tax base. I fully support the efforts of individuals and companies that create dollars turning over in our communities."
All three mayors also expressed their support before the Payette County Board of Commissioners.
According to a recent study, the proposed plant is expected to create around 5,000 jobs through the construction phase and more than 1,000 jobs during operations. Pay levels for those jobs will average $60,000 and $80,000, respectively.
The projected revenue for the county and state is substantial. During construction alone, the project should increase Idaho's GDP by $5.3 billion, while $4.8 billion will flow directly through Payette County.
About Alternate Energy Holdings, Inc. () -- 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(TM), which removes energy demands from homes and businesses () Colorado Energy Park (nuclear and solar generation), and Green World Water(TM), 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.
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "expect," "anticipate," "project," "target," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events, including our ability to list on a national securities exchange. These statements are based on the beliefs of our management as well as assumptions made by and information currently available to us and reflect our current view concerning future events. As such, they are subject to risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: our significant operating losses; our limited operating history; uncertainty of capital resources; the speculative nature of our business; our ability to successfully implement new strategies; present and possible future governmental regulations; operating hazards; competition; the loss of key personnel; any of the factors in the "Risk Factors" section of our Annual Report on Form 10-K for the most recently completed fiscal year; and any statements of assumptions underlying any of the foregoing. You should also carefully review the reports that we file with the SEC. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law.
CONTACT: Crescendo Communications, LLC Investor Relations Firm: David K. Waldman John J. Quirk (212) 671-1020 aehi@crescendo-ir.com Alternate Energy Holdings, Inc. Media: Dan Hamilton (208) 914-8894