It sure took a long time but it looks like Intrepid is finally going to make it:
Intrepid Closes $7.6 Million Bond Financing Transaction
Thursday November 9, 9:40 am ET
IDAHO FALLS, Idaho, Nov. 9 /PRNewswire-FirstCall/ -- Intrepid Technology and Resources, Inc. (OTC Bulletin Board: IESV - News), a renewable alternate energy company has closed on a 7.64 million dollar tax exempt bond financing package to expand and complete construction of their two bio-gas plants in southern Idaho.Completion of the financing will now allow Intrepid to rapidly accomplish the expansion of the Whiteside facility and finish the Westpoint bio-gas plants.
Intrepid expects the Whitesides plant to be back in full expanded production by the 1st quarter of 2007, and the Westpoint plant, which when completed will be the largest operating biogas plant in the United States, to start producing in the 2nd quarter of 2007. Revenues from the two plants, including fiber sales, carbon emission credits and green gas sales could put Intrepid on a cash flow positive course by the end of 2007 without additional plants. |
