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IESV News: Intrepid Announces Second Methane Gas Plant via COMTEX
January 27, 2005
IDAHO FALLS, Idaho, Jan 27, 2005 (PRIMEZONE via COMTEX) --
Intrepid Technology and Resources, Inc. (ITR) (OTCBB:IESV), a renewable energy company, announces it has signed the agreements to design and build its second methane production facility. This renewable energy production plant will be built on the 6000 head WestPoint Dairy near Wendell, Idaho.
Financing for the 3.3 million dollar facility has been arranged, preliminary design is complete and site preparation is underway. ITR will own and operate the plant with the WestPoint Dairy granting a 20-year lease on the property in exchange for ITR processing the approximate 20 million tons of annual animal waste that the dairy produces. The WestPoint Dairy will retain the mineral rich liquid effluent and solid material that remains after processing. ITR will also provide the dairy with additional engineering services that maximize the effectiveness of the operation to the dairy.
The WestPoint Dairy facility along with the nearly completed Whiteside Dairy facility will be capable of producing over 100 million cubic feet (100 billion BTUs of energy) per year -- or enough to supply the average natural gas needs of nearly 1,000 homes. ITR will begin construction in the 4th quarter of 2005 and the WestPoint biogas plant will begin operation in 2006.
Mr. Edwin Southfield of WestPoint Dairy stated, "I believe that Intrepid's solution to the waste issues surrounding our business carries substantial long term financial benefits for us and other large dairies. We have long prided ourselves on maintaining an operation that uses state of the art technology and processes while being an environmentally friendly neighbor. This new plant assists us in maintaining that tradition while maximizing our financial return from the dairy."
Dr. Dennis Keiser, ITR's Chairman, commented, "Today is the first in a series of events that our recently completed financing package allows us to engage in. This is also the second step in our Company's goal to have 250,000 head of dairy cattle under production within 5 years. ITR has gained a wealth of technical and operational data and experience from our first, recently completed, methane production facility that will prove invaluable in constructing and operating this new plant."
About Intrepid Technology: We are an applications innovator of Biogas products and services designed to assist in national energy independence and reduced pollution. All of these products are from renewable agriculture feedstock and industrial and agriculture waste materials.
Statements released by Intrepid Technologies and Resources that are not purely historical are forward looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-KSB, 10-QSB and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
SOURCE: Intrepid Technology and Resources, Inc.
Intrepid Technology and Resources, Inc. Steve Ellis (208) 529-5337 sellis@intrepid21.com
(C) 2005 PRIMEZONE, All rights reserved.
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121m is kinda' average for a penny stock, Imran. It's the 500m and up I tend to avoid. Some even have in the BILLIONS. Usually subpennies.
I talked to the company today. We need to know they operate on a "fiscal" year. The const. on the second digester "could" begin as soon as spring thaw:-)
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01/28/05 Digester operational, another is planned By: Bill Scott January 28, 2005
Intrepid Technology of Idaho Falls says its flagship methane anaerobic digester is fully operational. The two-tank digester at the four thousand head Whitesides Dairy in Rupert is processing manure into substantial quantities of methane gas. Intrepid Vice President Brad Frazee says they’ll soon use that methane to displace the propane the dairy has to buy for its heating needs. FRAZEE –“Within the next month we’re going to confirm out gas production rate. We expect by this spring that we’ll have pipeline quality gas. We’ll be in a position to sell that gas to our customers out there.”
Intrepid has just announced that it is going to build a second dairy farm digester. The West Point Dairy in Wendell could see the start of construction before the end of this year.
FRAZEE –“That’s a six thousand head freestall. That project will be three times the size of Whitesides. It will have approximately twelve digesters on there versus the four digesters that we’ll finally have at Whitesides.”
Intrepid plans to sell the excess gas to a pipeline carrier but it will also use some of it at its compressed natural gas filling station in Idaho Falls, the first commercial station in the US to dispense gas produced from a waste product for car and truck use.
Whitesides digester operational By Michelle Dunlop Times-News writer
RUPERT -- Looking down through a round plexiglass window situated on top of a 35,000-gallon tank, one might liken the frothy brown liquid inside to root beer.
It's a description that Brad Frazee hears often. However, as project manager for Intrepid Technology and Resources Inc., Frazee knows otherwise.
"You're up there with thousands of gallons of waste and you don't smell a thing," he said.
Inside each of the two tanks, located at Whitesides Dairy north of Rupert, manure from the dairy's 4,000 cattle nears the end of a process that yields methane, a biogas that can be used as natural gas or propane.
"It's quite amazing really," said Steve Whitesides, co-owner of the dairy.
Last spring, Intrepid broke ground on constructing a facility for its anaerobic digester, the company's flagship project in the Magic Valley. Three weeks ago, Whitesides said, the digester became fully automated. On Thursday, Intrepid automation specialist Wayne Tolman worked to convert the project's fuel source to gas produced by the digester itself.
"It's doing as well as expected and maybe even better," Whitesides said.
Eventually, Whitesides and Intrepid intend to have four tanks operating at the dairy. Whitesides will use some of the biogas to heat barns at the dairy. Intrepid initially will sell the rest to a pipeline carrier. Eventually, the company plans to power an alternate fuel vehicle with the gas. Intrepid runs a compressed natural gas filling station in Idaho Falls.
On Thursday, the company announced that it reached an agreement with the WestPoint Dairy in Wendell to construct and operate a second anaerobic digester at the 6,000-head dairy. Combined with Whitesides, Intrepid's organization will be capable of producing more than 100 million cubic feet, or 100 billion BTUs of energy, annually.
For Whitesides, however, the benefits of the anaerobic digester don't stop simply with being able to heat his barns. Approximately 50 percent of the waste generated at the dairy can be used in the process.
"It's a win-win situation," Whitesides said. "It's good for the dairy; it's good for the environment."
Although water is used during the process, Whitesides points out that the water already has been utilized on the dairy.
"It's not a draw on the aquifer," he said.
After the water and waste run through the anaerobic digester, the water can be used for irrigation. The digesting process also reduces the amount of phosphate in the water -- another benefit for Whitesides.
The venture received no government grants and was funded completely through private means, Whitesides said. While the initial investment might cause some dairymen to balk at anaerobic digesters, the "fact that it's never been done" in the Magic Valley might also have deterred interest in the past, he said.
However, the times, they are a changing.
"There's nothing like stepping up and being the first person to do something," Frazee said.
Frazee has receive numerous phone calls and e-mails from people in and out of state. Several local dairymen also have visited the Whitesides operation.
"We've had a lot of interest in what we're doing," Whitesides said.
Times-News reporter Michelle Dunlop can be reached at 735-3237 or by e-mail at mdunlop@magicvalley.com. NewsTracker * Last we knew: Construction was completed on an anaerobic digester designed to turn dairy cattle waste into natural gas at the Whitesides Dairy near Rupert. * The latest: For three weeks, the digester has been fully automated. On Thursday, crews worked to convert the digester to function off of its own methane gas. * What's next: The company that owns and operates the digester will begin construction on a second digester at the WestPoint Dairy in Wendell.
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It's a short part of the PRs on "Automated" then just above that the "Second Digester" PR. We're getting attention:-)......
As you may be able to tell, IESV is one of my favorite companies. I'm long and will support it due to the environmental benefits as well as the potiential for profit.:-)
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i still hold a very small position in iesv for a long time now, bought back at .055 i think. a few ugly dips below .04, but - .04 seems to be firming up as a support level, i think will hold. still need more volume and interest, but - could finally reverse it's long and ugly fall. let's hope so! i like the company, really hope it works out for them.
as for the stock, the key sentence in your links above imho is this one from frazee: "Within the next month we’re going to confirm our gas production rate". that will indeed be interesting - let's hope it's good news, with rates high enough to make the whole thing economically viable. i'm going to hold, is an interesting company.
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unreal, finance.yahoo.com usually lists the o/s, as does otcbb.com (for otc and pink sheets), or - you can look at the latest filings at "edgar online" (sec.gov) to determine the number.
of course, this doesn't work for pinkies - they can print a billion and never tell anyone, since they are "non-reporting" (see: CMKX). yet another reason why i never buy pink sheet stocks.
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