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AEHI Signs Agreement on New Backup Nuclear Site in Idaho July 28, 2010

Posted by cleanidahoenergy in AEHI, Elmore County, Payette County, rural nuclear.
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AEHI Secures Superior Backup Site to Elmore County

BOISE, Idaho, Jul 28, 2010 — Alternate Energy Holdings, Inc. (OTCQB:AEHI) (www.aehipower.com), an independent developer of large-scale nuclear and green energy projects, including nuclear power plants and nuclear desalination reactors, today announced a purchase agreement on a new backup site for a proposed nuclear power plant in Payette County, Idaho.

AEHI CEO Don Gillispie stated, “Our excellent primary site of 5,000 acres is also in Payette County and because of the overwhelming support AEHI has already received in that part of Idaho, we felt it was fitting to look at an additional site in the same area.”

The new backup site involves 6,000 acres adjacent to the primary site and includes a number of benefits that complement both sites such as water rights, transmission right-of-ways, the ability for future expansion. And like the primary site, it also passes preliminary standards required to build a nuclear power plant.

“While we still have an application on what is now a tertiary site in Elmore County, Idaho, about 100 miles southeast from Payette, the Elmore County Commissioners have yet to make a decision on our application after well over a year and continue to show uncertainty in their deliberations. As an investor-owned company, it is vital to focus our attention and resources on better sites where residents and local governments continue to show definitive interest,” Gillispie stated.

The proposed plant has met with large-scale support at all local hearings; better than 80 percent support has been witnessed at every hearing in Payette County.

“This large plant will offer jobs, financial security and opportunity that many people in the community are looking for. It’s the same message we continually hear every time we attend one of the hearings. It’s also the reason county commissioners unanimously approved the next-to-last step in the rezone process on the basis that only a nuclear power plant could locate on the property,” said Gillispie.

According to a recent study, the proposed plant is expected to create around 5,000 jobs through the construction phase and more than 1,000 jobs during operations. Pay levels for those jobs will average $60,000 and $80,000, respectively.

The projected revenue for the county and state is staggering. During construction alone, the project should increase Idaho’s GDP by $5.3 billion, while $4.8 billion will flow directly through Payette County.

About Alternate Energy Holdings, Inc. (http://www.AlternateEnergyHoldings.com) — Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation’s only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral(TM), which removes energy demands from homes and businesses (http://www.EnergyNeutralinc.com) Colorado Energy Park (nuclear and solar generation), and Green World Water(TM), which assists developing countries with nuclear reactors for power generation (http://www.GreenWorld-H2O.com), production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “believe,” “expect,” “anticipate,” “project,” “target,” “optimistic,” “intend,” “aim,” “will” or similar expressions are intended to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events, including our ability to list on a national securities exchange. These statements are based on the beliefs of our management as well as assumptions made by and information currently available to us and reflect our current view concerning future events. As such, they are subject to risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: our significant operating losses; our limited operating history; uncertainty of capital resources; the speculative nature of our business; our ability to successfully implement new strategies; present and possible future governmental regulations; operating hazards; competition; the loss of key personnel; any of the factors in the “Risk Factors” section of our Annual Report on Form 10-K for the most recently completed fiscal year; and any statements of assumptions underlying any of the foregoing. You should also carefully review the reports that we file with the SEC. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law.

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