Alternative Energy Partners (AEGY), a provider of comprehensive alternative energy solutions, announces that it has undertaken a corporate reorganization that will allow it to focus on fuel cell technology in the immediate future, while issuing a dividend to its shareholders. AEGY’s plans for reorganization include the transfer of its Elan Energy, Inc. and Sunarias Corp. subsidiaries to another, as-yet-undisclosed publicly traded company, which will acquire the subsidiaries in a share exchange transaction.
As part of the reorganization, AEGY will acquire all of the outstanding shares of Renewable Energy and Water, Inc. (REW), a developer and systems integrator of renewable energy projects and water reclamation solutions including fuel cell technology, from Healthcare of Today, Inc. REW provides its customers with a dynamic and customized combination of technologies and processes including water treatment technologies, anaerobic digestion of waste to create energy and biogas, and fuel cell power plants. The company integrates commercially proven stationary fuel cell power plant technologies as key components of its renewable energy projects and water reclamation solutions. Fuel cells have emerged as a preferred technology to position large consumers of energy for independence from utilities and grid power. REW is currently undergoing the survey process and is under a letter of intent with a major drainage district in the Central Valley of California to develop a water remediation project there.