Business
Blue Sphere Project Update
Blue Sphere Project Update.
About this update from Blue Sphere Corp
[{"type":"text","content":"\n\n\n\nBlue Sphere Project Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nBlue Sphere Project Update\nHolland Project Gets Property Confirmation and Signs $65 Million Definitive Agreement for Biogas Gas Off-Take\nPR Newswire\nCHARLOTTE, N.C., Oct. 25, 2017\n\n\n\nCHARLOTTE, N.C., Oct. 25, 2017 /PRNewswire/ -- Blue Sphere Corporation (OTCQB: BLSP) (the \"Company\" or \"Blue Sphere\"), a clean-tech independent power producer that develops, owns and manages waste-to-energy facilities globally, provided an update today on activities for its development in Sterksel, Netherlands.\n\n\n \n \n\n \nSite-Prep Activities\n\nBlue Sphere announced that its engineering subcontractor Dura Vermeer, has completed its on-site visit and analysis, positively confirming that the property meets the standards necessary for the construction of its anaerobic digester waste-to-energy facility.  This is an important milestone for the progress of this development project, allowing the Company's wholly-owned subsidiary, Blue Sphere Brabant B.V., to move forward with further activities relating to the construction and development of this facility (the \"Netherlands Facility\"). \n\nOther Activities at Sterksel\n\nOn September 19, 2017, Blue Sphere filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission disclosing that the Company had entered into a material definitive agreement for the Purchase and Supply of Green Gas with GasTerra B.V., a major gas wholesaler based in the Netherlands (the \"September 2017 Form 8-K\"). Blue Sphere Brabant agreed to supply, and GasTerra agreed to purchase, biogas that has been re-processed into natural gas (\"Green Gas\") from the Netherlands Facility in Sterksel for a period of twelve (12) years, from January 1, 2019 through January 1, 2031, with the possibility to renew upon mutual agreement once the term of the agreement has come to an end. \n\nUnder the Gas Off-Take Agreement, Blue Sphere Brabant will supply a maximum of 3,500 cubic meters of Green Gas per hour. The Company anticipates the value of the Gas O...