BOISE, Idaho, Feb. 4, 2011 (GLOBE NEWSWIRE) -- Alternate Energy Holdings, Inc. (OTCQB:AEHI) () today announced a federal judge dropped the freeze on all AEHI and personal funds, allowing the company access to all of its assets, which will be used to continue the process of approving a site in Payette County, Idaho in order to build a large-scale nuclear power plant, continue Energy Neutral™ projects and market Green World Water™ nuclear desalinization systems.
The decision was made following a hearing in the Idaho Federal Courthouse in Boise on Thursday, February 3rd, 2011.
"As I said before, the SEC was simply wrong about allegations that AEHI officials were defrauding their investors. After our evidence was laid before the judge, he agreed and made the decision to release the funds," said Richard Roth, Esq., of the Roth Law Firm, PLLC, from New York City, AEHI's attorney.
AEHI accounts were frozen on December 18th, 2010, following a civil complaint from the U.S. Securities and Exchange Commission.
Shortly after funds were frozen, Don Gillispie and Jennifer Ransom temporarily stepped down from their respective roles as CEO of AEHI and President of Energy Neutral™. It is anticipated following a vote of confidence from the AEHI Board of Directors, expected early next week, that both Gillispie and Ransom will resume their former positions.
"This decision allows us to follow through on promises that we have been making all along. Investors entrusted us with their money in order to create a company with a goal of building a nuclear power plant as well as other energy projects and that's what we plan to do," said Gillispie.
As part of the agreement between AEHI and the SEC, AEHI will report any expenses of more than $2,500 on a monthly basis and has agreed to continue to comply with all federal securities laws.
About Alternate Energy Holdings, Inc. () -- Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral(TM), which removes energy demands from homes and businesses () Colorado Energy Park (nuclear and solar generation), and Green World Water(TM), which assists developing countries with nuclear reactors for power generation (), production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power.
The Alternate Energy Holdings, Inc. logo is available at
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CONTACT: Investor Relations Firm: Stephen D. Axelrod, CFA Wolfe Axelrod Weinberger Associates, LLC. 317 Madison Avenue, Suite 515 New York, NY 10017 Tel: (212) 370-4500 E-mail: steve@wolfeaxelrod.com Media: Dan Hamilton Director of Corporate Communications Alternate Energy Holdings, Inc. Tel: (208) 939-9311 E-mail: dan@aehipower.com
