Biogas Opportunities Road Map Report from U.S. Government Points to Huge Opportunity for Bluesphere in U.S. Market
U.S. agencies including the EPA, Dept. of Energy, and Dept. of Agriculture to support biogas industry with goal to deploy 11,000 more biogas facilities
VEN YEHUDA, Israel, August 7, 2014 /PRNewswire/ --
Bluesphere Corp. (OTCBB: BLSP) (the "Company" or "Bluesphere"), a clean energy company that develops, manages and owns waste-to-energy projects, announced today a newly published report authored by three U.S. government agencies outlines new federal initiatives to support exponential growth in the private biogas waste-to-energy sector. The Biogas Opportunities Roadmap, published August 1st by the U.S. Department of Agriculture, U.S. Environmental Protection Agency, and U.S. Department of Energy concluded that:
• Developing a viable biogas industry in the U.S. can boost the economy and provide a reliable, distributed source of renewable energy while reducing greenhouse gas emissions
• 2,000 biogas sites operate in the U.S. today, and more than 11,000 additional biogas systems could be deployed to handle organic waste and produce energy and biogas system co-products
• Realizing the full potential of the biogas industry will require support from federal agencies, greater investment, expanded markets for biogas and biogas products, and increased R&D
• The benefits of biogas systems are clear. The task ahead is to reduce barriers and promote financial opportunities to move forward in developing a robust biogas industry
In the Biogas Opportunities Roadmap, the federal agencies identify programs that will promote biogas utilization and help the private sector voluntarily realize the full potential of biogas systems. These programs include:
• Using existing agency programs to leverage over $10 million in research funding
• Fostering investments in biogas systems including reviewing government procurement programs for products of biogas systems
• Strengthening markets for biogas systems and system products including by modernizing existing Federal incentives
• Improving communication and coordination by establishing a Biogas Opportunities Roadmap Working Group that will include participation from DOE and EPA, as well as the dairy and biogas industries
"The potential for biogas to increase renewable energy production, reduce landfill waste, benefit the environment, and spur economic growth in the U.S. is significant. We are very pleased to see the U.S. government publish a report that outlines these benefits and opportunities. Bluesphere is actively working in several U.S. states to develop biogas facilities. We have brought our global expertise in building and operating waste-to-energy facilities to the U.S. market and we're finding very strong interest in the value proposition we have to offer. We are eager to expand our operations in the U.S. in conjunction with some major partners and to capitalize on biogas opportunities," stated Bluesphere CEO Shlomi Palas.
Bluesphere has begun design and engineering work, and is scheduled to break ground in 2014 on a 5.2 MW waste-to-energy anaerobic digester in Charlotte, North Carolina. The Company is also developing in a 3.2 MW waste-to-energy project in Rhode Island and has a Memorandum of Understanding to develop a 5.2 MW waste-to-energy project in Massachusetts.
About Bluesphere Corporation
Bluesphere Corporation is a company in the cleantech sector as a waste-to-energy project Integrator. Bluesphere develops waste-to-energy and other renewable energy projects. The Company aspires to become a key player in the global waste-to-energy and renewable energy markets. For further information please visit the Company's website http://www.bluespherecorporate.com
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. These statements are only predictions and involve known and unknown risks, uncertainties and other factors including, without limitation, (i) uncertainties regarding our ability to obtain adequate financing on a timely basis including financing for specific projects, (ii) the financial and operating performance of our projects after commissioning, (iii) uncertainties regarding the market for and value of carbon credits and other environmental attributes, (iv) political and governmental risks associated with the 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 government permits and 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.