From their beginning to September 2007, the Company was focused on providing a vehicle for a foreign or domestic non-public company to become an SEC reporting publicly traded company. However, the Company shifted their focus to becoming the aforementioned wind and hydroelectric energy generation company.
Earlier this year, the Company formed a new Joint Venture Corporation (JVC) as per the agreement signed on June 20, 2009. This JVC, “Yantai Alveron Energy Development Company”, is 77 percent owned by Alveron Energy with the remaining 23 percent owned by joint partners. Alveron Energy Corp. transferred $50,000 to this new entity during the quarter ending April 30, 2010. These funds are to be used on the feasibility report for a potential 48MW wind energy plant in Shandong, China.
Alveron Energy Corp?. has begun preliminary investigation into wind and hydro energy technologies and has been researching wind and hydroelectric energy properties and project opportunities. The Company is also developing their economic models and financial forecasts while raising capital. They are working to identify regions that are economically viable for wind or hydro turbine development and development partners that would be appropriate for a particular project.
The Company is also engaging in data collection. For the wind energy projects, this involves location mapping and wind resource data monitoring and collection. This is through using meteorological instruments, especially anemometers, which read wind-speed and direction among other things. For hydroelectric projects, this involves location mapping and water resource data monitoring and collection. This is through using acoustical current instruments, as well as recorded and ongoing data collected by publicly accessible stations.