Alternate Energy Holdings, Inc. (PINKSHEETS: AEHI) CEO, Don Gillispie, recently left for Seoul, Korea to finalize negotiations with Korean Electric Power Company, KEPCO, to import the South Korean's advanced reactor, APR 1400, for its Idaho and Colorado sites.
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CEO Gillispie stated, "We expect the agreement to be similar to the UAE agreement announced last week, such technology should give AEHI a serious competitive advantage." The Economist magazine reported on December 30, 2009, "Competition for the (UAE) contract had been stiff. GE and Hitachi, two engineering giants, had launched a joint bid, as had a consortium led by France's nuclear champion, AREVA; but the chief allure of the Korean bid was price. It was reportedly billions of dollars cheaper than the others." AEHI executives traveled to Korea about a year ago presenting to KEPCO and key government leaders regarding the financial benefits of exporting their advanced reactor. Gillispie said, "We are pleased to have played a small part in encouraging the Koreans to export their superior reactor and now we would like to complete our negotiations to bring the APR 1400 into the US for the first time including helping achieve NRC design certification."
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