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New Company to Sell, Service and Install Alternative Energy Solutions – Adds Solar Thermal

New Company to Sell, Service and Install Alternative Energy Solutions – Adds Solar Thermal New Company to Sell, Service and Install Alternative Energy Solutions – Adds Solar Thermal

  • New Company to Sell, Service and Install Alternative Energy Solutions – Adds Solar Thermal
  • New Company to Sell, Service and Install Alternative Energy Solutions – Adds Solar Thermal

Alternative Energy Partners , a provider of comprehensive alternative energy solutions, today announces the formation of a new subsidiary, Elan Energy Corporation (“Elan Energy”).

New Company to Sell, Service and Install Alternative Energy Solutions – Adds Solar ThermalWith the obvious advent of the green economy we are witnessing interesting partnerships and agreements between clean energy companies companies large and small. This week a remote control energy management systems provider is partnering with a solar thermal energy company and clean energy integrator to form a new service based company.

Elan Energy, a Florida corporation, will integrate and coordinate the various energy products and services offered by Alternative Energy Partners to its clients. AEGY’s operating subsidiaries include Sunarias Corporation, a solar thermal energy provider, Shovon, LLC, a provider of remote-controlled energy management systems, and SkyNet Energy, Inc., which is developing four solar energy power generation projects in Eastern Europe.

AEGY has signed letters of intent to acquire three operating energy installation and service companies in Dallas, Texas, Tulsa, Oklahoma and Phoenix, Arizona, which will be managed by Elan Energy, and which are expected to be the first of multiple similar acquisitions designed to expand the reach of AEGY nationwide.

The combined annual gross revenues of the three companies is expected to exceed $15 million, and significant operating expense reductions are anticipated through the central management and control by Elan Energy. AEGY is engaged in due diligence and anticipates closing on the three companies by the end of September, assuming satisfactory results of its due diligence investigations. AEGY also is in continuing discussions to acquire several other companies offering fuel cell, solar thermal, and other alternative energy technologies.

Alternative Energy Partners CEO Gary Reed says,

“Our ability to offer comprehensive alternative energy services, products and integrated management will be enhanced by Elan Energy, which will help customers find, access, and implement those parts of our many services which are best suited to their needs. Our purpose is to have a single source (Elan Energy) which is able to sell, install, and service the systems that we own and operate or which we offer to clients.”

Following completion of its due diligence regarding and closing on the acquisitions of the energy service companies, as well as the completion of its annual audit and annual report on Form 10-K for its fiscal year ended July 31, 2010, which is currently underway, AEGY plans to prepare and file a registration statement on Form S-1 with the U.S. Securities and Exchange Commission and appropriate state securities regulatory agencies, to register certain common shares issued by it in connection with prior acquisitions, including Sunarias Corporation and Shovon, LLC, and to raise working capital for its expanding operations.

About Alternative Energy Partners, Inc.

Alternative Energy Partners is focused on sourcing, marketing and distributing renewable alternative energy solutions on a national and international basis. Through its wholly owned subsidiary, Sunarias(TM) Corporation (www.sunarias.com), AEGY provides on-site solar-thermal energy systems that allow businesses to reduce energy costs. It also holds Shovon, LLC (www.shovon.com), a provider of remote control energy managements and SkyNet Energy Systems, Inc., which is poised to enter the European alternative energy market as a developer of solar energy power. AEGY’s goal is to offer a full portfolio of high-performance energy solutions for homes and businesses of all sizes. Alternative Energy Partners is publically traded on the NASDAQ OTC /quotes/comstock/11k!aegy (AEGY 0.08, -.00, -0.66%) .

For more information please visit www.aenergypartners.com.

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