FORT LAUDERDALE, FL–(Marketwired – Jun 30, 2015) – BioPower Operations Corporation (OTCQB: BOPO) (“BioPower” or the “Company”) announced today that its wholly-owned subsidiary Green3Power Operations Inc. (G3P) has won the award to build a $175 Million renewable energy facility which will convert waste into ultra-low sulfur synthetic green No. 2 diesel fuel using G3P’s exclusively licensed gasification technology and the Fischer-Tropsch process which has been in use for ninety years turning gas into fuel. The facility will be built at the existing St. Lucie County Solid Waste Management Facility and extend the life of the landfill while reducing environmentally harmful greenhouse gas emissions.
G3P has finalized negotiations with St. Lucie County on an agreement to develop a renewable energy gasification facility at the County’s Glades Road Landfill which will be presented to the County Commissioners on July 21, 2015 for their consideration. G3P has finalized the site plan.
Dr. Neil Williams, PhD, P.E., CEO of Green3Power stated, “St. Lucie County has a long history of implementing innovative and cost-effective technologies at the St. Lucie County Solid Waste Management Facility. This facility will enable St. Lucie County to increase their landfill air space over time while reducing harmful greenhouse gas emissions. To that end, and due to the close proximity of the site to the G3P corporate offices, I-95, and the Florida Turnpike, G3P plans to construct our showcase facility at the St. Lucie County site.”
The facility will reduce the odors from waste collected, which will no longer be placed into the landfill, thus eliminating the disposal of organic waste in the landfill. G3P has been working with its strategic partner, Vanderweil Engineering, a joint venture partner in the facility which will convert approximately 1,000 tons per day of municipal solid waste, construction and demolition debris, used tires and yard waste to synthetic diesel fuel. If additional waste is needed on any given day, the additional waste will be excavated from the County landfill to create more landfill air space, and reduce the amount of greenhouse gas emissions from the landfill.
Green3Power Operations USA and Vanderweil will be paid for and provide design, permitting, engineering, procurement and contractor (EPC) services during the next 18 months while the facility is being permitted and built. G3P will also provide operations and maintenance for the facilities for 20 years with a 10 year extension, after the facility is built.
Garen Demirchian, P.E., a Partner with Vanderweil Engineering, stated, “The G3P Gasification Facility will be a highly efficient facility that is highly protective of human health and the environment. The St. Lucie Gasification Facility has been designed to a higher standard, that includes exceeding air emissions standards by more than 100 times, recycling water from the processes and extracting water from the wastes in order to prevent the use of drinking water and prevent discharge of wastewater to the sewer, and reuse of the ash and conversion of the ash to concrete block.”
Robert Kohn, CEO of BioPower, commented, “We believe this will be the first of many waste-to-energy projects that are environmentally sound to be developed by Green3Power. BioPower intends to develop waste to energy projects and waste remediation projects throughout the world. BioPower will focus on the conversion of wastes to electricity and synthetic fuels using Green3Power’s exclusive license for gasification technology and the Fischer-Tropsch process.”
ABOUT GREEN3POWER (G3P)
An environmentally sound alternative energy company that designs, procures equipment, constructs, and operates and maintains Gasification Waste-to-Energy plants, which use a unique thermal gasification technology to convert numerous wastes to synthesis gas which can then be converted to electricity or through the use of the Fischer-Tropsch process into synthetic fuels. This is an upgrade to present gasification technology in use around the world for the last 30 years. Wastes that can be converted include: municipal solid waste (trash); tires; construction and demolition debris; medical waste; industrial waste; pharmaceutical waste; biological waste; sewage sludge; APHIS waste and much more. G3P’s management team has historically provided design, permitting, engineering and management services in over 250 waste projects. G3P is developing waste-to-energy projects globally and in the United States.
Certain statements in this press release and oral statements made from time to time by representatives of the Company are forward-looking statements (“forward-looking statements”) within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the timing and likelihood of the EnviroPower acquisition. These forward-looking statements are made as of the date hereof and are based on current expectations as well as the beliefs and assumptions of management. Our actual results could differ materially from those stated or implied in forward looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, performance or products, underlying assumptions and other statements that are not historical in nature, including those that include the words “subject to,” “believes,” “anticipates,” “plans,” “expects,” “intends,” “estimates,” “forecasts,” “projects,” “aims,” “targets,” “may,” “will,” “should,” “can,” the negatives thereof, variations thereon and similar expressions. Such forward-looking statements reflect the Company’s current views with respect to future events, based on what the Company believes are reasonable assumptions. Whether actual results will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including risks and uncertainties discussed in the reports that the Company has filed with the Securities and Exchange Commission (the “SEC”); risks related to the proposed transaction, including the ability to consummate the acquisition and the timing of the closing of the acquisition; general economic, market, or business conditions; the Company’s ability to retain key personnel; the Company’s ability to obtain financing for new projects on commercially reasonable terms; the Company’s ability to integrate successfully the new acquisition into its ongoing business; and the ability to achieve the anticipated results of the proposed transaction and other potential acquisitions; the Company’s ability to comply with government regulations; changes in laws or regulations or policies of federal and state regulators and agencies; and other circumstances beyond the Company’s control. Refer to the section entitled “Risk Factors” set forth in the Company’s Annual Report on Form 10-K for the year ended November 30, 2014, as well as the Company’s Quarterly Reports on Form 10-Q and other SEC filings for a discussion of important risks, uncertainties and other factors that may affect our business, results of operations and financial condition. The Company’s stockholders are urged to consider such risks, uncertainties and factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at or by which any such performance or results will be achieved. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
FOR MORE INFORMATION PLEASE CONTACT:
BioPower Operations Corporation
TEL: +1 954.202.6660