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Nathaniel Energy Moves Toward Completion of Final Testing of Thermal Combustors in Italy Project

Nathaniel Energy Corporation (NECX) entered into an amendment to its agreement for the waste- to-energy power plant project in Cologna Veneta, Italy, resolving the contract issues announced on November 2, 2004.

Under the amended contract, the Company received $300,000 at the time of signing, and will receive $750,000 upon the completion of final testing of the first Thermal Combustor(TM), and will receive $1,050,000 upon the completion of final testing of the second Thermal Combustor(TM). Nathaniel Energy will also receive $275,000 for reimbursement of shipping and handling costs upon the completion of final testing of the second Thermal Combustor(TM). [ more ]

was posted on AltEnergyStocks.com.

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