When you read this, repeat this mantra to yourself – “no one wants to invest in nuclear energy projects”. At least, that is what people like Amory Lovins and Peter Bradford want you to believe.
I know that one day of stock trading for a “penny stock” means very little in the big scheme of things, but I cannot help pointing out something that many of you probably missed yesterday. There is a tiny company called Alternative Energy Holdings, Inc (AEHI) based in Idaho that has been working for several years to lay the groundwork for developing a nuclear power plant project in Payette County Idaho. Dan Yurman at Idaho Samizdat has written a number of articles about AEHI’s effort, many of which look at the company and its pronouncements with a deeply skeptical view.
Though I fully recognize the difficulty of what the company is trying to do, I also have a soft spot in my heart for entrepreneurs who are operating at the bleeding edge – or even in front of the bleeding edge. Remember, I am a guy who formed a company to try to design and build small modular reactors in September of 1993. It would be difficult to count how many people over the years – including my lovely wife, my loyal mom, and a former boss or two – thought I was absolutely nuts. (They were not completely wrong, mind you. I did end up going back to my old job in 1999 after putting Adams Atomic Engines, Inc. to sleep.)
Anyway, back to AEHI. On May 11, 2010, the company issued a press release describing the Payette County Idaho’s Board of Commissioners unanimous vote to approve a change to the county’s comprehensive plan that would allow a nuclear energy facility – and no other industrial use – on a 5,000 acre plot controlled by the company. Here is a graph of the market’s reaction to that news on May 12, 2010. Note the closing price compared to the opening price – $0.60 versus $0.20.
Of course, it is likely to fall again, but what a fun ride.
Disclosure: AEHI makes up a small portion of my personal portfolio.