SOURCE: Infrastructure Developments Corp.

Infrastructure Developments Corp.

July 07, 2011 08:30 ET

Infrastructure Developments Declares Support for the NAT GAS Act

SALT LAKE CITY, UT--(Marketwire - Jul 7, 2011) - Infrastructure Developments Corp. (OTCBB: IDVC) has declared support for the New Alternative Transportation to Give America Solutions (NAT GAS) Act of 2011. The proposed law, introduced by Rep. John Sullivan (R-OK), Vice Chair of the House Energy and Power Subcommittee, would expand tax credits for the purchase of natural gas vehicles (NGVs), encourage manufacturers to produce dedicated NGVs, and provide incentives for developing NGV fueling infrastructure.

"Our reasons for supporting NAT GAS are simple," stated IDVC's CEO Thomas R. Morgan. "It's good for American businesses, labor, and consumers, and it's good for the environment -- all at the same time. NAT GAS will not only support NGV's in general, it will bolster our entrance into the domestic NGV fueling infrastructure industry."

IDVC, an engineering and project management firm with operations in Southeast Asia, the Middle East, and the US, has signed a memorandum of understanding with a US firm to design, develop and build NGV fueling stations. IDVC intends to coordinate this process with local governments to expand NGV fleet usage.

NGV advocates point to a range of major advantages over traditional gasoline and diesel-powered vehicles:

  • Natural gas is clean. NGVs emit 20-30% less CO2, and 75-90% less carbon monoxide, nitrogen oxide, particulate matter, and volatile organic compounds than gasoline powered vehicles.
  • Natural gas is affordable. NGVs can cut fuel costs by more than 50% while delivering the similar power and performance.
  • Natural gas is available. 98% of the natural gas used in the US is sourced from the US or Canada. US reserve estimates have expanded rapidly and are sufficient for decades of supply, relieving US dependence on oil imported from foreign sources.
  • Natural gas creates jobs. The development and operation of an American natural gas production and distribution industry will create tens of thousands of sustainable high-paying jobs.

NAT GAS, which has achieved broad support in both parties and has 182 sponsors from both parties and all regions of the country, is intended to pursue natural gas' advantages by jump-starting the NGV industry.

"Natural gas is a cleaner, cheaper, more abundant alternative to foreign oil, and it is in both our economic and national security interest to use the vast reserves we have right here in our own backyard as the bridge fuel towards energy security," stated Rep. Sullivan. "We use about 21 million barrels of oil a day and 69% of that is refined into transportation fuel. If we can get [NAT GAS] done, focusing on the fleets, trucks, buses, 18-wheelers, it's going to put a huge dent in that."

IDVC believes that the NGV industry's need for incentives and subsidies will only be temporary, an opinion shared by many industry analysts.

"The NGV industry will be able to stand on its own in a short period of time -- it just needs a boost," stated Morgan. "Despise all the advantages of NGVs, they're not practical if you can't refuel them conveniently. This is where we see our greatest opportunity to help this promising industry succeed. And that is why we are putting our full support behind NAT GAS and the legislators who back it."

Forward-Looking Statements:

A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve risks and uncertainties including IDVC's ability to procure design and management projects, competitive market conditions, and IDVC's prospects for securing additional sources of financing as required. The actual results that IDVC may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. IDVC encourages the public to read the information provided here in conjunction with its most recent filings on Form 8-K, Form 10-Q and Form 10-K. IDVC's public filings may be viewed at www.sec.gov.

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