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Intrepid Technology and Resources, Inc (IEVS) Announces Contract for Bio-Gas Sales

Intrepid Tech. and Resources (ITR), an application innovator in Alternative Energy and soil Amendment, announced that it has entered into an agreement with industrial user, Intermountain Gas, for a fixed price contract to purchase biomethane.

With the purchase of ITR’s biomethane, the industrial user plans to replace propane for the upcoming 2008 production campaign by the end of March. The contract offers attractive discounts to the user above the cost of propane resulting in savings to Intermountain Gas, while at the same time providing a substantially better price to ITR.

Historically, industrial plants that don’t have access to natural gas lines have been forced to use propane. With natural gas price increases over the last four years, propane has tripled in price thus putting ITR in a very unique position to offer an energy source alternative and still be very competitive with propane costs. Intermountain Gas is just about a perfect match for the Whitesides plant output (located near the new industrial customer), leaving WestPoint gas open for other users.

ITR President, Jake Dustin said, “Our ability to market our product in this way is a direct benefit obtained through the extensive Gas Technology Institute testing we recently completed. We have conclusively demonstrated that we not only meet the FERC pipeline quality standards, but we are also able to pass the even more stringent and restrictive DOT gas transport standards. No one else has been able to clear that bar, making us the only biomethane producers in the country who can haul their product over the open road and deliver direct to customers. That’s a pretty significant advantage.”

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