For Immediate Release TSX - NRG OTCQX - ANRGF

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1 For Immediate Release TSX - NRG OTCQX - ANRGF ALTER NRG REPORTS THIRD QUARTER 2013 ACTIVITIES AND FINANCIAL RESULTS Calgary, Alberta, November 11, (TSX - NRG; OTCQX - ANRGF) - Alter NRG Corp., ( Alter NRG or the Company ) is pleased to report on its corporate activities and financial results for the three and nine month periods ended The Company s focus is the Westinghouse Plasma Technology which is the worldwide leader in creating energy from waste using plasma gasification. We market and sell the Westinghouse Plasma Technology through our wholly owned subsidiary, Westinghouse Plasma Corporation ( Westinghouse Plasma ). Westinghouse Plasma is the industry leader for the treatment of all types of waste (industrial household, commercial, hazardous, etc.) using plasma technology and converting it into useable energy such as electricity, syngas (replacement for natural gas, fuel oil or LNG), heat, steam, or liquid fuels such as diesel or ethanol. Our Vision To provide the leading technology platform for converting the world s waste into clean energy for a healthier planet. Our Mission As the industry leader, we will forge and dominate an industry segment that transforms current waste management practices. We build shareholder value by enabling customers to convert waste into clean energy by providing plasma gasification products, services and solutions that are innovative and environmentally friendly. Westinghouse Plasma Technology is a commercially proven technology that is used in commercially operating facilities in Japan and India that have been converting waste into energy for more than ten years, with facilities under construction in China and England. From an environmental perspective, a plasma facility will have significantly lower emissions than other alternative energy facilities and have an overall emissions profile lower than a natural gas combined cycle power facility, which is considered the cleanest fossil fuel production. From an economic perspective waste-to-energy projects generally have strong project returns in populous areas, as the projects receive revenues from tipping fees to take the waste and then also receive revenues from the sale of energy. Alter NRG sells the Westinghouse Plasma systems to developers and supports the developer s projects with engineering and testing for their specific application, licensing of the technology for use, sale of the gasifier and related equipment, and providing replacement parts and operations support once the system is up and running. The Company also has options to invest in projects which it intends to fund using internally generated cashflows and third party funding to provide annuity income through participation in selected projects. Alter NRG is pleased to be presenting highlights for its third quarter of 2013 as revenues have increased by 31% over the same period in prior year. This is reflective of an emerging business plan with significant long-term potential HIGHLIGHTS WESTINGHOUSE PLASMA Sales of $11.2 million are a year to date increase over the same period of the prior year of 31%. This reflects the emerging business plan supporting the Westinghouse Plasma Technology and revenues include sales income to three separate facilities being constructed or commissioned. Also included is plasma torch sales to the China

2 market and licensing fees from developers with emerging business plans. A fourth facility has just been kicked off and several others are awaiting regulatory approvals for commencement of construction in the short-term. Executed on approximately 99%, cumulatively to date, of the $21 million purchase order from Air Products, a US based Fortune 500 Company, which has previously announced its intention to build four additional advanced gasification facilities in the United Kingdom in the coming years. They are in late stages of construction of a facility that is using the Westinghouse Plasma Solution to convert 950 tonnes per day of household waste into 50MW of electricity in Northeast England. The facility is expected to start commissioning in the first half of 2014 and will be the world s largest plasma gasification facility by a significant margin. Air Products has kicked off a second 50MW project on adjacent lands in Tees Valley, of the same size and configuration as the first project. The second facility has started initial construction efforts and it is expected to result in an equipment sale for Alter NRG with similar value to the first project and to occur in late Signed an agreement to provide $12 million of Westinghouse Plasma Torches to Beijing Huanyu GuanChuan Plasma Technology Ltd. ( GuanChuan ). During the first quarter of 2013, GuanChuan placed an approximate $1 million order for the first four plasma torches which are now being delivered. GuanChuan is using the plasma torches in industrial furnace applications for the steel and iron industry in China which is a promising growth market. The first sale represents a reference case for the industry and GuanChuan is expected to order further plasma torches in 2013 and beyond. Finalized scope with SMS Infrastructure ( SMS ) on two projects which advanced into formal regulatory process in early Previously, SMS constructed two hazardous waste facilities utilizing the Westinghouse Plasma Solution. These are the more advanced projects within a larger pipeline of projects which SMS is developing and marketing in India and the Middle East for hazardous waste treatment facilities between 30 and 100 tonnes per day. SMS provides turnkey hazardous waste facilities to the market using the Westinghouse Plasma Solution and has approximately 140 people in their gasification division. Upon receipt of regulatory approval SMS is expected to begin construction of smaller scale facilities processing less than 50 tonnes per day for expected revenue of $4 to $5 million per facility. Supported late stage construction and commissioning of a hazardous waste demonstration facility in Shanghai China being constructed by GTS Shanghai for which we have previously delivered the detailed engineering and plasma torches. The facility is in the late stages of construction and is expected to begin commissioning in the fourth quarter of This reference facility complements the incineration market as it both turns a hazardous ash into an environmentally friendly slag and provides increased energy production. Advanced business development efforts with Waste2Tricity for a 100,000 tonnes per annum project in England which began with the concept design study and also raised further development capital. Waste2Tricity has also been active in the Thailand market pursuing a variety of projects including some larger than 1,000 tonnes per day projects. Waste2Tricity has a common shareholder with Alter NRG, Ervington Investments Limited ( Ervington ) which is a company that has Roman Abramovich as its ultimate beneficial owner, and is aggressively pursuing development opportunities including licensing for certain regions. Advanced project development with a developer, PGP Terminal a.s. ( PGPT ), which previously purchased site licenses in the Czech Republic and Slovakia for $4.375 million, with 10% being paid up front. The developer has been working for several years on waste-to-energy projects and has a portfolio of projects that it is currently advancing in their home market. They expect to begin engineering on the first facilities in late 2013 or early Wuhan Kaidi ( Kaidi ) completed construction of its demonstration facility in China and the Westinghouse Plasma Solution was commissioned during the first quarter of The facility is expected to take 100 tonnes per day of biomass waste and convert it into liquid fuels. Alter NRG is currently advancing technology licensing and further equipment purchasing arrangements with Kaidi.

3 Continued due diligence and financing efforts related to the Company s investment options in current projects. These options allow for participation in the annuity cashflow of projects through a partnership structure with Alter NRG as the general partner. Alter NRG has options to invest with key customers, including Air Products, which allow the Company to elect on the option after the project receives regulatory approval but without any promoted costs. This is a favorable option for the Company as it does not have to deploy the risky development capital but can participate in the project level annuity cashflow after the project has been de-risked. In addition to the highlights above, customers around the globe continue to advance their business development efforts using the Westinghouse Plasma Gasification Solution. This includes exclusive license agreements for territories that are in advanced negotiations. CORPORATE Announced the closing of a financing with a strategic shareholder, Ervington Investments Limited ( Ervington ), which is a company that has Roman Abramovich, a successful entrepreneur, as its ultimate beneficial owner. Ervington has complementary investments in the waste-to-energy space and has the potential to be part of a larger group that will consider participating in waste-to-energy projects. The financing, led by Ervington, was for 34.2 million shares at a price of $0.325 for a total investment of $11.1 million and closed in January CEO S MESSAGE In our last Annual report, I talked about hitting the tipping point as Westinghouse Plasma Technology has become the dominant and recognized leader in next generation waste treatment solutions and sets the standard for the industry. This accomplishment is illustrated by recent events whereby Alter NRG was asked to co-host the Gasification Technology Council ( GTC ) India Trade Mission jointly with General Electric. Several other gasification companies involved with coal gasification including KBR, CBI and others also attended. A month later, we attended the GTC conference, the most prestigious industry event, and spoke on Day 1 with the likes of Siemens and Shell. Most others still commercializing their technologies spoke on Day 2 or Day 3. It has become clear that we are past the tipping point which is an exciting time for our Company. Currently, there are 4 facilities in construction or commissioning which further illustrates the market acceptance and industry leadership position of our technology. This is in addition to our commercial pipeline which continues to mature with several other projects in the environmental approvals process, and later stage development. In the 18 months I have been at the helm, I have witnessed a strengthening of the pipeline which now includes relationships with numerous larger, more credible companies and projects that we look forward to announcing in the coming quarters. These opportunities usually move a little slower than we would like in this long sales-cycle business, but we continue to persevere. Sales are paramount but we have to back that up with a quality product. I am pleased to say that we are also executing effectively. During the quarter, we substantially completed delivering our portion of the Tees Valley 1 project, which is to take 950 tonnes per day of waste and convert it into 50MW of renewable energy. This is a major milestone and now we look to focus on the successful commissioning and start-up of that facility. The Tees Valley 1 facility is now being followed up with Tees Valley 2, which is a replica facility on the adjacent site. The fact that our customer is moving forward on a second facility before the first one is fully constructed and commissioned illustrates the confidence in our technology and ability to execute. Of course, we were ecstatic when we heard that they have kicked off the project which will anchor our 2014 revenues and cashflow. It is sometimes understated how many market applications our technology has. Converting virtually any waste product into syngas allows for further conversion downstream into liquid fuels, electricity, or replacing fuel oil or LNG, which makes this technology broadly applicable to energy markets. With reference facilities taking biomass to diesel fuel, large-scale household waste to electricity, smaller-scale hazardous waste to electricity, auto-shredder residue to steam, we have many applications already completed and more being worked upon.

4 One unique application is highlighted in this report which is an incinerator turbo charger ; a facility is being commissioned in China that will eliminate the hazardous ash from incinerators and increase their energy efficiency and output. I am excited to see multiple markets and applications for our technology by multiple customers as it increases the pace of the commercial roll-out of this industry leading technology. The reality of our marketplace is that industry events focused on the technical aspects of the Westinghouse Technology completely recognize our strategic and commercial value, garnering attention from leading multi-national companies. Recognition of that value amongst investors must naturally follow that in due course. Our technology has significant value and we will continue efforts to ensure this gets reflected in our stock price, and through increased revenues and cashflow. SELECT FINANCIAL RESULTS ($) Balance Sheet 2013 December 31, 2012 Total assets $55,712,073 $57,566,565 Total liabilities 18,442,298 23,430,697 Total equity 37,269,775 34,135,868 Income Statement Three months ended Nine months ended Sales $ 2,527,704 $ 3,214,980 $ 11,237,133 $ 8,556,721 Gross profit 1,537, ,065 2,735,491 1,909,292 Loss from continuing operations (4,449,633) (1,976,665) (8,853,767) (6,6367,306) Loss from discontinued operations - (65,738) - (668,651) Basic and diluted loss per share continuing operations (0.04) (0.03) (0.09) (0.10) For more information on the Company s financial results please visit or to view Alter NRG s 2013 Third Quarter Report. For additional information please contact: Walt Howard, Chief Executive Officer (403) whoward@alternrg.ca Daniel Hay, Chief Financial Officer (403) dhay@alternrg.ca The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

5 Advisory Respecting Forward-Looking Statements: This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "confident", "might" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this news release contains forward-looking information and statements pertaining to the following: availability and cost of key materials and labour and availability of funds with respect to the amount of capital expenditures and scheduled commencement of operations; timing of regulatory approval including various permits from the applicable government authorities; the assessment of capital markets including the availability of debt and equity in current market conditions; commodity prices resources that impact the Company s operations directly and indirectly; extent of investment by government authorities in infrastructure projects; the financial and operational health of key partners in various projects; the continued development of the Company s technology and its use in various applications and other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Forward-looking statements reflect management s current beliefs and assumptions, based on information currently available to management. A number of factors could cause actual results to differ materially from the results discussed in the forwardlooking statements, many of which are beyond the control of the Company. Among the material factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: that the information is of a preliminary nature and may be subject to further adjustment; unforeseen environmental effects; the completion of strategic partner s projects; arrangements with key suppliers; potential product liability and other claims; other business risks outlined in this news release, including risks associated with the proprietary technology; the possible unavailability of financing at competitive rates and the related effect on development activities; the effect of energy price fluctuations; changes in government regulation, including changes to environmental regulations; the effects of competition; the dependence on senior management and key personnel, and fluctuations in currency exchange rates and interest rates, as well as those factors discussed in or referred to under the heading Risk Factors in the Company s Annual Information Form dated March 27, 2013 available at Such information and statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information or statements. The Company cautions that the foregoing list of assumptions, risks and uncertainties is not exhaustive. The forward-looking information and statements contained in this news release speak only as of the date of this news release, and the Company assumes no obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable securities laws.