|Source: Altenesol, LLC
Date: March 15, 2012 09:30 ET
|ORLANDO, Fla., March 15, 2012 (GLOBE NEWSWIRE) — IAHL Corporation (Pink Sheets:IAHL)
Altenesol (Alternative Energy Solutions) LLC has completed the stock swap and is now a subsidiary of IAHL. This is the first of several upcoming press releases. Altenesol is an alternative energy company established in 2009 specializing in the Natural Gas (NG) sector with offices in Orlando, Florida and Medellin, Colombia. IAHL is a holding company with subsidiary companies including; ALTENESOL, LLC in the USA, and ALTENESOL COLOMBIA S.A.S. in Colombia. Nelson De La Nuez is the CEO and Chairman of the Board of Directors and has established business connections with some of the world’s largest natural gas and oil producers. Altenesol is developing a first of its kind 180 Thousand Gallons per Day (GPD) Liquid Natural Gas (LNG) Plant in Colombia which is estimated to start construction by 2012. Initial gross profit expectations from just the 180 thousand gallon production level are estimated in excess of 30 million dollars per year. A Front End Engineering and Design Study (FEED Study) is being conducted by a global leader in the Cryogenic industry for this project. Altenesol has already pre-sold 100 percent of the LNG production from the plant with some of Colombia’s largest distributers. “We are excited at the tremendous growth potential Colombia offers both our company and the value we can bring to our shareholders evidenced by the numerous projects we have slated to bring to the market,” said Nelson De La Nuez.
Altenesol met with the Minister of Mines and Energy of Colombia, Dr. Mauricio Cardenas Santamaria, in Bogota, on November 16, 2011. Nelson De La Nuez presented the Minister with the facts pertaining to the LNG project we are developing in Colombia. “This is a great project which shall benefit the people of Colombia in the transportation arena as well as creating the field for implementing an incentive program to promote the use of LNG which could help to eliminate current Diesel subsidies,” said Dr. Mauricio Cardenas Santamaria.
In anticipation to getting this project listed with the US officials, Nelson De La Nuez has met several times with the office of the Commercial Consul of the United Stated Embassy in Bogota, Colombia. Mr. Julio Carbo expressed great support to the development of this project by an American Company which comes at a great moment when the Free Trade Agreement (FTA) has been signed between Colombia, Panama, South Korea and the USA. “We are here to support promoting American technologies and products as well as protecting American intellectual properties,” said Mr. Julio Carbo in a meeting with Altenesol in November, 2011.
Altenesol’s intellectual property can guide the design architecture, management and engineering flow of both LNG and CNG plants as well as a proprietary gas capture design from existing oil wells to prevent flaring in remote locations and turn a lost asset into profitable revenue for the oil producers. This technology has attracted world renowned oil conglomerate PEMEX which is planning on utilizing this process on 20 Macroperas after the final contract is signed through our partner company OCTOPUS in Mexico.
A Macropera is a collection of 5 to 15 wells within a defined distance and each Macropera produces some 2 MMSCFD of associated gases which shall be recovered and utilized rather than flaring them into the atmosphere. This 20 Macroperas contract alone will yield Altenesol an estimated net profit of approximately 3 million dollars. PEMEX has over 6000 of these wells and has plans to expand another 17,000 wells over the next 20 years. Altenesol’s Patent pending process can be utilized for these wells. “The potential for growth in this market is not limited to PEMEX our process can be applied globally although the obvious size to which we can grow in the PEMEX market is huge,” said Nelson De La Nuez.
Our rapid growth has procured numerous projects which is why we have gone public and have attracted investors/companies to bring capital to those ventures. The payment back to the investors/companies will be dependent on the amount invested yielded by the cash flow of each Plant and/or a percentage of that particular project they get involved with. Therefore the funding of these projects will not influence or change our share structure in any way as we have future plans of moving to a larger exchange. No dilution or share structure changes to IAHL have occurred from the time we began negotiating the configuration of these entities.
We appreciate the patience and support of our shareholders as we update the markets with our current company information. Peter Van Dyke enabled a smooth transition of the new ownership of IAHL as he is pursuing his own projects and we wish him well. For a better understanding of Altenesol, feel free to visit our website at www.altenesol.com
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.