SOURCE: Steadfast Holdings Group, Inc.

October 28, 2009 08:41 ET

Steadfast Holdings Group, Inc. Forms Green Technology Division

EAST HAVEN, CT--(Marketwire - October 28, 2009) - Steadfast Holdings Group, Inc. (PINKSHEETS: STDF) has formed a new division to participate as project manager for building facilities using green technology. These technologies include waste to energy, bio fuel growing and dispensing facilities plus research and development sites for kinetic energy.

"We have received several contacts from parties interested in utilizing their licenses or patents in various alternative energy and bio-nutraceutical applications," according the Steadfast President John Calash. "Negotiations have begun with parties that have sites in California, New Mexico, Washington, Illinois, Indiana, Ohio and Canada for waste to energy facilities. Other parties are negotiating to build large facilities for the production of algae strains on sites ranging from 200 to 1,500 acres. These potential clients have the technology licenses or sub-licenses in hand to proceed with these projects. Our SIP panel joint ventures and project management contracts in place have provided us a great opportunity in this burgeoning market and the panels will be utilized in all sites. The addition of various sources of grants and stimulus dollars makes these projects feasible and shortens the time frame in which the projects must be started and completed. All of the projects are designed to qualify for payments of up to 30% of the capital costs from the American Recovery and Reinvestment Act of 2009," Calash added. To date the projects being negotiated range in price from a low of approximately $40 million to a high of $130 million each and will take between 8 months and 2 years to complete after financing is procured by the clients.

(Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports.)

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