EVEN YEHUDA, Israel, August 20, 2014 /PRNewswire/ --
Bluesphere Corp. (OTCBB: BLSP) (the "Company" or "Bluesphere"), a clean energy company that develops, manages and owns waste-to-energy projects, today announced it is pursuing a strategy to work in partnership with landfill owners to convert harmful methane gas emissions from landfills into electricity. The process is based on readily available technology that is already being used is various parts of the U.S. and other parts of the world.
When organic materials in landfills decompose, methane gas is created. Traditionally, landfill owners have allowed methane gas to seep into the atmosphere, contributing to global warming, or in some cases, have burned the gas as a waste product. Methane can be converted into energy by drilling pipes into the landfill. Through these pipes methane is directed into a gas turbine or internal combustion engine which converts the gas into electricity. The electricity can either be used on-site or sold to the local electric utility and fed into the grid.
Bluesphere CEO Shlomi Palas commented, "A large number of the landfills in the U.S., particularly in the southeastern region, are not productively using methane gas emitted from landfills. These landfills are the oil fields of the future."
"We believe we can offer a very favorable partnership to current landfill owners by providing the equipment, expertise, and power purchase agreements to convert what is now an unused asset, methane gas, into a revenue stream. We've been in talks with state representatives looking to increase green energy production and reduce methane emissions. They have invited and welcomed our efforts to work with landfill owners in their jurisdictions on methane-to-electricity conversions."
"This immediate market opportunity is another short term path to additional revenue generation for Bluesphere," added Palas.
According to the Environmental Protection Agency (EPA) methane is over 21 times more potent than carbon dioxide at trapping heat in the atmosphere and landfills are the third largest man-made source of methane in the U.S. The EPA already has an initiative in place, the Landfill Methane Outreach Program, to promote the conversion of landfill methane into energy. The White House, in its latest action on climate change, is calling for a reduction in methane gas emissions. As a part of this strategy, the government is looking to potentially propose new landfill reduction laws to support biogas.
Bluesphere's move to work in partnership with landfill owners is designed to generate revenues for the landfill operator and for Bluesphere, while also benefitting the environment by reducing harmful methane gas emissions and generating clean, renewable energy.
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.
The Company assumes no obligation to update the information in this release.
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SOURCE Bluesphere Corp.