Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Autumn Industries Incorporated (ATU-V) -- Ignore unavailable to you. Want to Upgrade?

To: thewiz who wrote (374)	1/29/2000 5:29:00 PM
From: ANGLER	Read Replies (1) \| Respond to of 428

To all Here's the last newsrealease. Autumn Industries Inc - Autumn to enter electrical generation business Autumn Industries Inc ATU Shares issued 14,317,499 2000-01-28 close $0.15 Friday Jan 28 2000 Mr. Byron Loewen reports This year has seen many changes in the company. These have included the disposition of Canadian manufacturing facilities, the continuing pursuit of Biomass projects, and the entry into electrical generation using fare gas waste as fuel. Generally, the board of directors and the management of the company are becoming seasoned in the business. Shareholders will note, by reviewing public insider information on the directors, that they all have an increased stock position in Autumn. This has arisen out of the continued investment into the company to ensure sufficient capitalization in order to finance the continuing operations. Recently, management arranged investment funds in an amount sufficient to allow Autumn to enter into the electrical generation business. This most exciting field was not accessible until recently, with the deregulation of utilities. Flare gas is a term used in the oil and gas business to describe waste natural gas that must be extracted from the earth as a function of extracting oil. Historically, when the amount of natural gas in an area was not sufficient to justify a natural gas pipeline, it was simply flared (burned off). There are approximately 5,000 flares currently burning this gas in Western Canada. Environmental considerations in respect of air pollution and greenhouse gas emissions have led to legislation that empowers governments to control emissions. In the case of flare gas, the government of Alberta has begun to restrict the extraction of oil where flare gas results. The oil companies extract oil and are therefore desirous of finding economical methods of using the resulting gas in a manner that complies with government regulations. The recent growth in population and manufacturing in Alberta has placed an unexpectedly high demand on electrical supply. This has resulted in brown outs in several communities. Primary generation facilities take years to create, because of the fact that there are severe restrictions on the damming of rivers, nuclear energy and diesel fired systems. The use of fuels that were historically known as waste (such as wood waste and flare gas) are now in play by those who have the technology to use them economically and in an environmentally friendly manner. Autumn has the technology and the financing to become a leader in this field. The companies, which are wholly owned by Autumn Industries Inc., and which have been established to pursue this business, are: Hotab North America Inc. -- biomass (primarily wood waste) applications. These include district heating and electrical co-generation projects. Strategic alliance partners include AF Energikonsult AB (a Swedish engineering firm of approximately 2,000 employees); Hotab Eldningsteknik, AB (the leading manufacturer in wood fired industrial systems from Halmstad, Sweden) and Focus Industrial Contractors (a leading industrial contractor in electrical generation from Edmonton, Alta). Autumn Independent Power Corporation -- flare gas electrical generation projects. "It is the mission of Autumn Industries Inc. to provide cost effective and environmentally friendly alternative energy solutions using wood byproducts and other renewable fuels." These companies will work within the mission statement of the company to maximize the opportunities in their respective areas. Members of the board govern the operations of these companies on a full-time basis. Hotab North America has recently completed a contract with the Yukon Government identifying the feasibility of district heating using wood waste for the majority of the downtown area of Whitehorse as well as the Yukon College. The actual projects that will flow from these studies are currently before the government and the management of Autumn is optimistic that these efforts will result in several contracts. Several other projects have been identified by the company and are being pursued at this time. In the flare gas electrical generation division, it is the intention of the company to achieve at least five megawatts of generation during the 2000 fiscal period. The first of these projects has been acquired and is operating above expectations. It produces 0.85 megawatts of electricity that is currently purchased by the Alberta Power Pool. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)