Alternative Energy Partners, Inc.
OTC Bulletin Board : AEGY

Alternative Energy Partners, Inc.

October 04, 2010 15:30 ET

Alternative Energy Partners (AEGY) Announces Definitive Agreement To Acquire Xnergy, Inc.

MERRITT ISLAND, FLORIDA--(Marketwire - Oct. 4, 2010) - Alternative Energy Partners (OTCBB:AEGY), a provider of comprehensive alternative energy solutions, today announces that it has signed a definitive agreement to acquire Xnergy, Inc.

Xnergy (www.xnergy.com) specializes in turn-key energy conservation design-build and maintenance solutions for a number of industries including Biotech, High Tech, Medical Device Manufacturing, Pharmaceutical and Semi-Conductor Industries. Xnergy is also a leader in the alternative energy field and has over 80 MW of interconnect experience.

The company analyzes a client facility's energy profile and determines the optimal systems, equipment, technology, Energy Conservation Measures, and strategies for the facility's use. Xnergy offers energy auditing and LEED consulting, and is at the forefront of the ever-changing sustainability and green-build movement. Drawing from over 20 years of construction experience, Xnergy provides a single source for project management, execution, and maintenance of energy and green-building projects. 

Xnergy has been responsible for a number of high-profile projects including a major expansion for Abbott Laboratories, an energy retrofit for the City Hall of Encinitas, commissioning of cogeneration plants for the Naval Medical Center, San Diego, laboratory construction for The Scripps Research Institute, facility refurbishment for Johnson and Johnson, and mechanical systems for the Gemological Institute of America. Xnergy is currently engaged with the John Wayne Airport Terminal Expansion Cogeneration Plant project.

"We at Xnergy are very excited about the opportunities that come with our alliance with Alternative Energy Partners (AEGY). For us to continue our growth within this expanding industry, it is very beneficial to partner with AEGY, as they are aligned with our long-term goals and are fully committed to supporting our on-going success," D. Jason Davis, President of Xnergy.

Alternative Energy Partners CEO Gary Reed says, "Xnergy is an industry leader – they are heavily involved in the alternative energy sector and have made an impression not only on us, but on their professional colleagues, gaining countless recognitions. We look forward to bringing their great work and their expertise, as well as their genuine passion for this industry, into play at AEGY."

Xnergy is led by LEED accredited professionals, is NEBB Certified, and a member of many organizations including the Energy Conservation Council, Biocom, and the US Green Building Council. The company has received a number of awardsincluding the "Excellence in Construction" award from the Associated Builders and Contractors. In 2007, Xnergy was listed in the Inc. 5000 as the one of the fastest growing companies in the United States.

Over the last several years, Xnergy has delivered over $100M in energy and facility improvement projects to its clients.

About Xnergy

Xnergy is an award-winning engineering, construction, and alternative energy leader. They have been rated the #1 Alternative Energy Provider by the San Diego Business Journal, and have extensive experience with construction of Biotech, Medical Device, Semi-Conductor, High Tech Manufacturing and other Critical Care Facilities. Their Abbott Vascular Site Expansion project was awarded the best product of 2007 by the Association of Builders and Contractors in the $10-$99M category, and the recently completed Encinitas City Hall Energy Retro-Fit won the 2008 SANDEE award for energy excellence. Xnergy is a member of the United States Green Build Council and is led by LEED Accredited professionals.

About Alternative Energy Partners (AEGY)

Alternative Energy Partners ("AEGY") is focused on sourcing, marketing and distributing renewable alternative energy solutions. Through its wholly owned subsidiary, Sunarias™ Corporation (www.sunarias.com), AEGY provides on-site solar-thermal energy systems that allow businesses to reduce energy costs. It also holds Shovon, LLC (www.shovon.com), provider of remote control energy managements. AEGY recently announced that through a third subsidiary, Skynet Energy Systems, Inc., it is poised to enter the European alternative energy market. AEGY's goal is to offer a full portfolio of high-performance energy solutions for homes and businesses of all sizes. Alternative Energy Partners is publically traded on the NASDAQ OTC (OTCBB:AEGY). For more information please visit www.aenergypartners.com.

FORWARD LOOKING STATEMENT

This announcement is not an offer to sell any Alternative Energy Partners ("AEGY") securities. Offers for any given security are made only through applicable offering circulars and related supplements filed with the SEC pursuant to Section 13(a), 13(c) or 14 of the Securities Exchange Act of 1934. Certain statements contained herein and subsequent oral statements made by and on behalf of AEGY may contain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements are identified by words such as "intends", "anticipates", "believes", "expects", and "hopes" and includes, without limitation, statements regarding AEGY's plan of business operations, product research and development activities, anticipated revenues and expenses and potential contractual arrangements and obligations. Forward-looking statements speak only as of the date of the document/oral statement in which it was made. In making any such statements, the person making them believes that his expectations are based on reasonable assumptions; however, any such statement may be influenced by factors that could cause actual outcomes and results to be materially different from those projected or anticipated. These forward-looking statements are subject to numerous risks and uncertainties. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements and are mostly out of the company's control. Among these are: general economic conditions, receipt of additional working capital, and acceptability of the company's products in the marketplace as well as other factors set forth in the company's SEC filings. Thus, AEGY disclaims any intent or obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.

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