Blue Sphere’s Waste to Energy Plants in North Carolina and Rhode Island Sign a Letter of Intent for Sales of Compost!
EVEN YEHUDA, Israel, November 21, 2012 /PRNewswire/ –
Blue Sphere Corp. (OTCBB: BLSP) (the “Company” or “Blue Sphere”), a company in the
Cleantech and Waste to Energy sectors as a project integrator, is pleased to announce that
each of its two waste to energy projects – a 5.2 MW plant in North Carolina and a 3.2 MW
plant in Rhode Island – has signed a letter of intent with an international compost
manufacturing and marketing company at prices of up to $20 per ton of compost. With a
combined daily output of 100 tons, that amounts to $730,000 in annual revenue or $438,000
in annual revenue from the North Carolina plant and $292,000 in annual revenue from the
Rhode Island plant.
Each project site already has a signed, 15-year power purchase agreement with two of
the largest utilities in the United States and an organic feedstock supply agreement
pursuant to which the Company will receive $35 per ton of organic waste it receives into
“This is another break-through for the Company. Thanks to this letter of intent, we
have added a third and substantial revenue stream to our first two projects. We are
working hard to commence implementation of the first two sites as soon as possible and are
continuing to secure more waste to energy sites in the US and around the world.” said
Shlomi Palas, CEO of Blue Sphere Corp.
About Blue Sphere Corp.
Blue Sphere Corp. is a company in the cleantech sector as an Emission Reduction
Project Integrator. Blue Sphere develops projects for greenhouse gas emission reduction
and renewable energy production. The Company aspires to become a key player in the global
carbon reduction market, helping enterprises with high pollution emissions achieve their
green goals. For further information please visit the Company’s website
This press release contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and
as that term is defined in the Private Litigation Reform Act of 1995, which are subject to
risks and uncertainties and may change at any time. Among these are: (i) uncertainties
regarding our ability to obtain adequate financing on a timely basis including financing
for the projects described in this release and other specific projects, (ii) uncertainties
regarding the future of the Kyoto Protocol and binding greenhouse gas warming commitments
of industrialised countries, (iii) uncertainties regarding the market for and value of
carbon credits including carbon credits associated with industrial gases, as well as the
duration and amount of estimated emissions from specific projects, (iv) political and
governmental risks associated with the foreign countries in which we operate, (v)
unanticipated delays associated with project implementation including designing,
constructing and equipping projects, as well as delays in obtaining required host country
and United Nations approvals, (vi) the development stage of our business and (vii) our
lack of operating history. As such, there is no assurance that the initiatives described
in the press release will be successfully implemented or meet expectations.
The Company assumes no obligation to update the information in this release.
For further information please contact Sam White at +1-888-309-9088 or
SOURCE Blue Sphere Corp.