NEWS

July 16, 2008

Contact:
Mary Prendergast
303-789-6900

Alpine Energy Group on Shortlist of Bidders to Provide Alternative
Energy to Virgin Islands: Denver firm selected as finalist to enter into
negotiations for a 20-year Power Purchase Agreement

DENVER, July 16, 2008—Alpine Energy Group, a full-scale project development company serving the power and energy industries, announced today that its proposal to build, own, and operate an alternative energy facility has been selected by the Virgin Islands Water and Power Authority (VIWAPA) as a final bidder to participate in negotiations to enter into a 20-year Power Purchase Agreement. The decision on the final proposal(s) is expected to be announced in three-to-five months.

The announcement was made by James Beach, President of Alpine Energy Group. “We are excited about the opportunity to participate in this process. We believe we have presented a well-conceived plan that will not only meet the energy goals set by the VIWAPA, but will also provide a solution  to the growing municipal solid waste problem through our project’s productive and clean use of that waste.

In April, Alpine Energy Group submitted its proposal to build an alternative energy facility, which will first convert municipal solid waste into refuse-derived fuel (“RDF”), then gasify the RDF to generate steam and electric power for the island of St. Thomas.   The facility will employ commercially proven state-of-the-art gasification technology, rather than traditional mass burn technology, which has been proven in similar operating facilities to meet or exceed stringent emissions standards.  The proposal was submitted in response to VIWAPA’s Request for Proposals for alternative and renewable energy generation projects that would reduce the territory’s reliance on fossil fuels, particularly oil.  According to VIWAPA, each of the selected proposals meets the RFP’s stated goal ofproviding a guaranteed supply of energy at a cost that is lower than its current projected, while also decreasing VIWAPA’s dependence on oil.

For additional information about Alpine Energy Group or this announcement, please call Mary Prendergast at 720-833-6344.

About Alpine Energy Group
Colorado-based Alpine Energy Group is a full-scale project development company that actively pursues Greenfield and retro fit opportunities in the U.S. energy sector.  Its skilled team of project developers, combined with engineering, construction, operations, and environmental permitting professionals, allows AEG to take projects efficiently from concept to construction and commercial operations. Alpine Energy Group’s primary focus is on the use of biomass and other cellulosic material in Bio-Thermal energy systems that generate steam, power, and substitute natural gas.