NEW YORK - (Business Wire) Laidlaw Berlin, LLC, an affiliate of Laidlaw Energy Group, Inc. (Pink Sheets: LLEG), announced today that it has filed an application with the operator of the New England power grid, ISO New England, for the interconnection of its Berlin, New Hampshire, biomass energy project.
“This is yet another significant milestone in the development process of the project,
” said Michael Bartoszek, CEO.
Separately, Laidlaw announced that the 30 day appeal period in connection with the January 10, 2008, unanimous approval for the subdivision of the former Fraser pulp mill site in Berlin to be acquired by Laidlaw has expired without any appeals. This paves the way for the imminent closing of acquisition and related financing. Laidlaw is currently in the process of finalizing these arrangements.
About the Berlin, NH Biomass-Energy Project:
The Berlin project involves the conversion of the former Fraser Paper pulp mill site into a highly advanced biomass-to-energy project that is expected to export approximately 60 megawatts of renewable energy to the New England power grid and utilize over 700,000 tons of clean wood biomass chips per annum. The project involves a capital investment of over $80 million by Laidlaw and its investors and is expected to employ 40 directly and create over 500 indirect jobs. Once completed, the plant is expected to be among the largest and most environmentally advanced biomass-energy plants in North America.
About Laidlaw Energy Group
Laidlaw Energy is engaged in the development of independent power plants that generate electricity from renewable resources, with a particular emphasis on biomass power. Laidlaw Energy's mission is to build and manage a profitable portfolio of biomass facilities through the development of new facilities and acquisition of existing facilities, and in so doing become the leading supplier of biomass power in the United States. Laidlaw Energy is headquartered in New York, New York. For more information, please visit our website at www.LaidlawEnergy.com.
This communication contains statements expressing expectations of future events and/or results which may include, without limitation, statements concerning anticipated financial performance, business prospects, technological developments, potential markets, new products, research and development activities and similar matters. Such statements constitute forward-looking statements made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. All statements based on future expectations rather than historical facts are forward-looking statements that involve a number of risks and uncertainties, and Laidlaw cannot provide assurance that such statements will prove to be correct. Laidlaw undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
E&E Communications
Paul Knopick, 949-707-5365
pknopick@eandecommunications.com
