Nov 23 2012
Blue Sphere Corp. (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 each plant.
"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.