updated 12/11/2010 5:15:26 PM ET 2010-12-11T22:15:26

BOISE, Idaho, Dec. 10, 2010 (GLOBE NEWSWIRE) -- Alternate Energy Holdings, Inc. (OTCQB:AEHI) (www.aehipower.com) today announced it has received recommended rezone approval on a site to build a nuclear power plant in Payette County, Idaho. The decision by Payette County Planning and Zoning Commissioners is nationally significant as being the first decision of its kind regarding a green field nuclear site in 33 years.

A green field site is one that has not been previously developed or approved for a nuclear power plant.

"The Planning and Zoning Commission followed through on a monumental decision. This approval allows us to take the next step, which involves potential final rezone approval with the Payette County Board of Commissioners as early as January 2011," said Don Gillispie.

The company now anticipates it will begin collecting environmental data in the first quarter 2011 in preparation for submitting a construction and operating application (COLA) to the Nuclear Regulatory Commission.

During the December 9th evening hearing many commissioners pointed to the benefits that a nuclear power plant could provide the community. Some of those benefits previously discussed by AEHI include an estimation of up to 5,000 jobs during construction and over 2,000 direct and indirect jobs during operations. Salaries for these jobs are estimated at $60,000 and $80,000 respectively, and billions in GDP to the state of Idaho.

The company represents the only known opportunity for a direct nuclear plant investment in the U.S. today.

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(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.

CONTACT:  Wolfe Axelrod Weinberger Associates, LLC.
          Investor Relations:
          Stephen D. Axelrod, CFA
          317 Madison Avenue, Suite 515
          New York, NY 10017

          Alternate Energy Holdings, Inc.
          Dan Hamilton, Director of Corporate Communications
          (208) 939-9311

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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