Free Energy International Inc.

Free Energy International Inc.

March 10, 2010 15:33 ET

Free Energy International Inc.: Swan Hills Heat Recovery Project Receives Approval for $2,600,000 Grant

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2010) - Free Energy Power Corporation (FEPC) ("Free Energy" or the "Company") a subsidiary of Free Energy International Inc., (TSX VENTURE:FFX) in association with Borealis GeoPower Inc. (Borealis) has been approved for a grant of up to $2,600,000 provided by the Alberta Energy Research Institute to assist in funding the Company's power production plant at the Swan Hills oil and gas production facility in Alberta. Funding under the grant is subject to a number of conditions including a matching on a dollar for dollar basis of eligible expenditures. The power production plant will use geothermal waste heat from the facility to generate electricity to be used as an alternative or supplementary source of electricity at the facility.

Borealis entered into an agreement with FEPC on December 21, 2009. In conjunction with the agreement, FEPC has agreed to pay Borealis a royalty based upon the net distributable cash paid by FEPC to Free Energy International Inc. Borealis will also be retained to prepare a technical report on the geothermal qualities and projected longevity of oil production from the Project Lands, and will be entitled to share in the proceeds from any sale of the project by FEPC, to a maximum of $1,000,000.

The Company is very pleased with the approval of the grant application. The grant funds place the Company in a strong position to continue developing extensive geothermal assets, and to deliver "clean renewable energy". The Company will require additional debt or equity financing to complete funding of the project.

The main part of the Swan Hills field produces oil, gas and water from a depth of approximately 9000 feet. These fluids are pumped to the surface at approximately 163 – 170 degrees F. in very high volumes. The oil and gas are separated from the water, and the water is then pumped back into the formation. Free Energy will utilize heat exchange technology to remove sufficient heat from the water before it is re-circulated to produce electricity.

Win for the environment:

This project is certainly a win for the environment as the energy produced is extracted from what is otherwise "waste heat" from water that is recycled back into the earth. There are no pollutants or green house gases produced to create this "heat from nature". Based upon a successful demonstration of this technology at Swan Hills, the opportunity to create "in situ" power from "waste heat" will transform the ability of all Oil and Gas producers to create "green energy" from this previously untapped natural source.

Free Energy Technology:

Free Energy International Inc. is a renewable energy technology company developing revolutionary technologies for the heating and cooling industry based on a new class of thermal superconductors now becoming available on the world market. The Company is focused on developing technologies that provide environmental solutions that take advantage of the increased focus on climate change and energy efficiency.

About Free Energy International Inc.

Free Energy International Inc. is a British Columbia corporation with its head office in Vancouver, British Columbia. The Company is listed on the TSX Venture Exchange as a Tier 2 company. The Company has a total of 13,102,526 common shares issued and outstanding, of which 5,040,000 shares are subject to escrow arrangements.

Additional information about Free Energy may be found on SEDAR at

Information on the technology can be viewed at the Free Energy website at

Alf Sanderson, President

Free Energy International Inc.

Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed and elsewhere in the company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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