Alter NRG sells 5 plasma gasification licences to PGPT

(SeeNews) - Jun 26, 2012 - Canadian plasma gasification firm Alter NRG Corp (TSE:NRG) said Monday it had agreed to sell five licences for its technology to Czech Republic-based energy projects developer PGP Terminals (PGPT) for USD 4.4 million (EUR 3.5m).

PGPT will be able to acquire three additional site licences within a year after the signing of the contract. The licences grant PGPT access to Alter NRG's plasma gasification technology to be used in projects in the Czech Republic or Slovakia.

The contract was signed under Alter NRG's standard licensing terms which envisage the payment of an initial USD 437,500 for each licence. The remaining amount is paid upon project commissioning.

(USD 1 = EUR 0.801)

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