Alternative Energy Partners, Inc.
OTC Bulletin Board : AEGY

Alternative Energy Partners, Inc.

December 28, 2010 09:47 ET

Alternative Energy Partners (AEGY) Obtains $8M Funding

MERRITT ISLAND, FLORIDA--(Marketwire - Dec. 28, 2010) - Alternative Energy Partners (OTCBB:AEGY), a provider of comprehensive alternative energy solutions, announces that it has received a commitment for $8M in funding. The funding was arranged by Alternative Energy Partners' ("AEGY") parent company, Healthcare of Today, Inc., and will be used for working capital and acquisitions. Per the terms of the financing agreement, there will be no dilution to the shares of AEGY.

Last week, AEGY (www.AEGYPartners.com) announced that it planned to focus more closely on certain profitable opportunities within alternative energy and energy efficiency, including fuel cells, solar PV and water reclamation. As part of the corporate changes announced on December 22, AEGY will be acquiring the outstanding shares of Renewable Energy and Water ("REW") (www.renergyandwater.com), a developer and systems integrator of renewable energy projects based in Irvine, California. REW's use of fuel cell technology in its water reclamation solutions is in line with AEGY's strategy to expand its presence in that market. REW is currently surveying for a major drainage district project in California that has offered REW a Letter of Intent.

AEGY's family of businesses includes Xnergy, Inc. an award-winning engineering, construction, and alternative energy firm based in California. Xnergy offers a single source for project management, execution, and maintenance of energy and green-building projects to its clients. The company's work with clean, green technology was recently noted in an honor bestowed by the US Congress.

AEGY President and CEO Jason Davis says, "Our ability to expand AEGY's presence as a provider of high-demand alternative and renewable energy services will be accelerated in important ways by this additional funding. This boost to our operational budget will allow us to continue our successful course, the aim of which is to deliver consistent growth and profitability to our shareholders."

Once the transactions announced on December 22 have closed, which is anticipated before year's-end, AEGY intends to proceed with the filing of its Form S-1 registration statement while preparing to meet the listing requirements for the NASDAQ.

About Alternative Energy Partners, Inc.

AEGY is a portfolio of energy solutions businesses servicing organizations of all sizes. Its companies include: Xnergy (www.xnergy.com), Sunarias Corporation, (www.sunarias.com), Shovon, LLC (www.shovon.com), and Skynet Energy Systems, Inc. Elan Energy Corporation, AEGY's mechanical contracting subsidiary, also houses R.L.P. Mechanical Contractors, Inc., a Dallas-Fort Worth area contractor serving the medical industry. Alternative Energy Partners is publicly traded on the NASDAQ OTC Bulletin Board (OTCBB:AEGY).

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 documents filed with the SEC pursuant to the Securities Act of 1933 or 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. Also, our management may make forward-looking statements orally to investors, analysts, the media and others. Forward-looking statements express our expectations or predictions of future events or results. They are not guarantees and are subject to many risks and uncertainties. There are a number of factors beyond our control that could cause actual events or results to be significantly different from those described in the forward-looking statements. Any or all of our forward-looking statements in this report or in any other public statements we make may turn out to be wrong. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise.

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