Alter NRG unveils USD-1.75m disposal of non-core asset
Oct 10, 2011 - Canadian Alter NRG Corp (TSE:NRG) said Thursday it had agreed to dispose of a steam turbine from a discontinued project for USD 1.75 million (EUR 1.3m).
Final closing of the deal is expected in 90 days.
Last month, Alter NRG agreed to sell another non-core assets for USD 5 million. Together the two deals are to strengthen its balance sheet, the company said.
In mid-September Alter NRG said it would focus its efforts on the advancement and marketing of its Westinghouse plasma gasification technology, under a new strategic direction. The company's geoexchange solutions unit CleanEnergy will keep going with a "more modest growth profile and a tightened business focus" so as to be cash positive, Alter NRG said.