Blue Sphere Announces Commencement of the First Phase of Project Implementation at the Oti Sanitary Landfill in Kumasi
EVEN YEHUDA, Israel, November 16, 2011 /PRNewswire/ --
Blue Sphere Corp. (OTCBB: BLSP) (the "Company" or "Blue Sphere"), a company in the Cleantech sector as an emission reduction and renewable energy project integrator, is pleased to announce that it has arranged to commence drilling wells in the Oti Sanitary Landfill in Kumasi, Ghana within the next 3-5 weeks to assess the quantity of biogas in the landfill.
The program will consist of drilling 3 boreholes in the existing cells of the landfill. This will allow the measurement of gas under a range of conditions and to ascertain the optimal spacing of the wells for maximum gas extraction. These wells can be used later on, which will reduce the final cost of the project.
The landfill site was opened in 2004 and is expected to receive waste until 2020. As such, the landfill will continue to create and emit methane until 2040.
There is potentially the option of power generation, subject to economic factors. As the landfill is engineered, sanitary and deliveries of high-organic content waste are received on a daily basis, and the required ingredients for successful power generation are present.
"Drilling the wells represents tangible progress in implementing the project and will allow us to move quickly to full project implementation," 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 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. 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.
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SOURCE Blue Sphere Corp.