updated 10/14/2010 9:45:57 AM ET 2010-10-14T13:45:57

BOISE, Idaho, Oct. 14, 2010 (GLOBE NEWSWIRE) -- Alternate Energy Holdings, Inc. (OTCQB:AEHI) (www.aehipower.com), a developer and marketer of innovative clean energy sources based in Eagle, ID, today announced that their plans to build a nuclear power plant in Payette County, Idaho, will now enter the final local and state approval process. This comes on the heels of an announcement from Payette County that the process is moving forward.

Wednesday's public announcement reports, "As of last week, the technical review committee completed its analysis and is in the process of preparing a final report."

The next step involves a public hearing before the Payette County Board of Planning and Zoning Committee. The remaining process could be finished as early as the end of the year.

"We are very excited to finish this process and I am confident in the technical findings. The Board of Commissioners already unanimously approved our petition during the first zoning phase and even indicated in their decision that the only project that could locate on the property in question is a nuclear power plant. I believe this speaks volumes about where this process will be in just a few months," said Don Gillispie, AEHI CEO.

Previous hearings were heavily weighted in favor of AEHI's plan, with at least 80 percent of those attending showing support for the building of a nuclear power plant. In fact, every mayor in Payette County and the Payette Chamber of Commerce all wrote letters of endorsement for AEHI.

The numbers are very similar to a poll performed by the Nuclear Energy Institute; the most recent shows 84 percent of neighbors of current nuclear power plants hold a favorable impression of the local nuclear power plant. ( http://www.nei.org/resourcesandstats/documentlibrary/newplants/reports/third-biennial-nuclear-power-plant-neighbor-public-opinion-tracking-survey ).

Employment opportunities and overall revenue play key roles in many of these. During construction, the Payette County Plant 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 approximately 5,000 peak jobs, which average $60,000 during construction and over $80,000 during operations.

About Alternate Energy Holdings, Inc. (http://www.aehipower.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(TM), which removes energy demands from homes and businesses (http://www.EnergyNeutralinc.com), Colorado Energy Park (nuclear and solar generation), and Green World Water(TM), which assists developing countries with nuclear reactors for power generation (http://www.GreenWorld-H2O.com), 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.  

The Alternate Energy Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8058

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.

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