SOURCE: Human BioSystems

April 23, 2008 09:15 ET

HBS Takes Initial Steps to Enter the Arena of Renewable Power Generation

PALO ALTO, CA--(Marketwire - April 23, 2008) - Human BioSystems (OTCBB: HBSC) ("HBS"), a Silicon Valley-based biotech and bioenergy company, has partnered with Dairy Development Group ("DDG") to form Environmental BioMass Energy ("EBE"). EBE will specialize in the conversion of waste biomass, such as cow manure, to renewable electrical energy using proprietary technology. Project implementation is being initiated in California.

Mr. Len Chapman, CEO of EBE, has been a Senior Executive with Fortune 500 companies in the agricultural business for over 25 years. They include Monsanto, Specialty Foods Corporation, Safeway, and Kraft Foods. His responsibilities include provision of oversight for the design, construction and operation of sophisticated processing facilities. Other management personnel have had extensive leadership experience in business management and corporate integration, agribusiness, and product development and market implementation.

California's Renewables Portfolio Standard (RPS) is one of the most ambitious renewable energy standards in the country. It requires electric corporations to increase procurement from eligible renewable energy resources by at least 1% of their retail sales annually until they reach the 20% benchmark by 2010. California is even considering a higher goal of 33% by 2020. Since most power companies will not be able to attain these governmental mandates, EBE will be well-positioned to take advantage of these requirements.

This marks a change of direction from HBS's previously announced ethanol production directive because of the higher revenue potential available for renewable power generation and the ability to participate in an industry that does not rely on governmental supports. California is particularly well suited for the launch of EBE's business plan because of the enormous size of its dairy industry and the availability of additional biomass fuel sources. It is estimated that one out of every five dairy cows is raised in California. However, despite exceptional economic and agricultural growth, California's dairy practices have a detrimental effect on environmental sustainability and public health. The novel approach EBE has outlined will generate green energy and will beneficially impact both the dairy industry and the health problems associated with the large number of cows and manure.

EBE has positioned itself not to be solely dependent on the dairy industry. Its conversion technologies are flexible and can be utilized to convert many sources of biomass waste products. This further enhances the ability to beneficially address additional environmental concerns. It is hoped this business perspective will establish EBE as a leader in power production from biomass waste streams.

Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the inability of HBS to raise funding for the proposed joint venture projects, failure to consummate the purchase of real property on which the park will be built, failure to obtain regulatory approvals for the construction of the energy park and ethanol plant, failure to obtain the required financing and to construct the energy park and ethanol plant, failure of the energy park and ethanol plant to meet standards, the inability to find raw material for the production of energy and ethanol or to sell the energy and ethanol on acceptable terms, the risks involved in pursuing a business unrelated to HBS' prior business, and other factors discussed in filings made by the Company with the Securities and Exchange Commission.

Contact Information

  • Contact:

    Human BioSystems
    Harry Masuda
    (650) 323-0943

    Investor Relations
    Yes International
    (800) 631-8127

    Environmental BioMass Energy Inc
    Len Chapman