Business
Blue Sphere CEO Update Letter
Blue Sphere CEO Update Letter.
About this update from Blue Sphere Corp
[{"type":"text","content":"\n \n \n Blue Sphere CEO Update Letter\n \n \nBlue Sphere CEO Update Letter\n\n\"2015 Was a Standout Year\"\n\n \n CHARLOTTE, NC--(Marketwired - Jan 19, 2016) - Blue Sphere Corp. (OTCQB: BLSP) (the \"Company\" or \"Blue Sphere\"), a clean energy company that develops, manages and owns waste-to-energy projects, has released a letter to shareholders from the Company's CEO, discussing the accomplishments achieved for the calendar year 2015 and a brief outline of plans for for 2016.\n Blue Sphere ended 2015 with two principal projects in development in the United States and acquired four facilities in Italy. In the United States our North Carolina and Rhode Island biogas projects received financing, began construction and were nearing completion at the end of 2015. In Italy, the Company obtained the necessary financing and completed the acquisitions of four fully operating biogas facilities, each with long term power purchase agreements already in place.\n As Blue Sphere advanced the 2015 projects toward their goals, the Company continued to realize the tremendous potential of the waste-to-energy business. With the goal of becoming a leader in the sector, the Company further realized the importance of developing a pipeline of additional projects in parallel with the development of existing projects. Consequently, we established three mission critical goals for the Company for 2016: (i) bringing the North Carolina and Rhode Island biogas projects to full operational status, (ii) further developing a pipeline of more lucrative projects in the waste-to-energy sector and (iii) completing one or more acquisitions of operating facilities prior to the end of calendar year 2016.\n Overview of Select 2015 Accomplishments\n \n \n January 2015 - We achieved financial closing in the amount of approximately $27,000,000 with respect to, and became a co-owner of, the North Carolina biogas plant.\n \nApril 2015 - We achieved a financial closing in the amount of approximately $19,000,000 with respect to, and became a co-owner of, the Rhode Island biogas plant.\n \nIn August 2015 - We announced the conversion of all convertible notes issued by the Company. The conversion of these notes represented the retirement of approximately $1,500,000 of the Company's debt.\n \nDecember 2015 - We closed on the acquisition of four biogas ...