Please wait while we load the requested 10-Q report or click the link below:
|Company Contact||Public Relations Contact|
|Scott Tetenman, Manager of Project Financing and Treasury||John Abrashkin|
|Environmental Power Corporation||Ricochet Public Relations|
|914 631-1435 x42||(212) 679-3300 x121|
Environmental Power Announces Third Quarter 2008 Results and Provides Business Update
TARRYTOWN, N.Y., November 10, 2008 Environmental Power Corporation (NASDAQ: EPG) (we, usor the Company) today announced results for the third quarter ended September 30, 2008.
During the last quarter, the Company undertook a number of initiatives in its transformation from a development based company to a sustainable operating company. These initiatives include the following, which will be further described later in this press release:
Enhance Capital Structure Begin to raise necessary equity capital through means that minimize shareholder dilution, including debt and investment by strategic partners at the project and corporate level. In addition, pursue an additional $26 million in tax-exempt bond financing for the Bar 20 Project.
Confirm Huckabay Ridge Operating Performance Complete modifications to the biogas collection system and the gas conditioning system to ensure reliable performance to meet target output and economics.
Reduce G&A Costs Reduce G&A costs by 25% and maintain reductions for 2009.
Project Costs Take advantage of the decrease in the cost of commodities to reduce our project capital costs and therefore improve project returns.
Seek Value for our By-Products Finalize an alliance with Organix that will use our solids as a peat replacement, and continue exploring the value of our solids as a component of eco-friendly building products.
Seek Parity with other Renewables and Bio-Fuels Support recently introduced legislation creating tradable tax-credits for the production of renewable natural gas from waste products.
Project Development While prioritizing our announced projects, prepare our next group of projects to continue our growth.
These initiatives formed the framework for our decision making and focused the organization at the inflection point in its growth cycle. These points will be described in greater detail during the update call scheduled for today at 10:00 a.m. EST.
We continue to experience strong interest in our RNG® product due to increased focus on domestic renewable sources of energy as well as the possibility of increased mandates related to Renewable
The following information was filed by Environmental Power Corp (EPGRQ) on Monday, November 10, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Environmental Power Corp's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Environmental Power Corp.