SOURCE: Sustainable Power Corp.

January 03, 2008 08:00 ET

Sustainable Power Corp Announces That Baytown Green Energy Consortium Has Signed an Agreement With Biofuels Capital Partners to Secure Up to 10MM in Bridge Capital

NATCHEZ, MS--(Marketwire - January 3, 2008) - Sustainable Power Corp. (PINKSHEETS: SSTP) announced today that an agreement has been signed between Biofuel Capital Partners and Baytown Green Energy Consortium. Baytown Green Energy Consortium was previously announced as the name for SSTP's Baytown, TX project.

Biofuel Capital Partners will attempt to procure from a reputable lending source, on a best efforts basis, debt and mezzanine financing in an amount up to ten million dollars, to be secured by contracts, accounts receivable, inventory, equipment, real estate and other assets of the Company, and such other collateral as may be required. The term of this agreement shall be for a term of (90) days from the effective due date hereof, and may be extended as may be mutually agreed upon by both parties.

Sustainable Power Corp CEO, Keith Mazer stated, "We're very excited to have the opportunity to do business with Biofuel Capital. They're knowledgeable, focused and energetic in the biofuels field. We find their terms very favorable and expect a quick result." Mr. Mazer added, "The board of directors opted not to do equity financing at current stock prices and therefore did not ratify the unilaterally signed contract with Blue Harbor Energy. The debt and mezzanine financing will not dilute our stockholder base."

About Sustainable Power Corp.

Sustainable Power Corp. is an international green energy service provider with exclusive rights to utilize bio-waste products from the USSEC fertilizer production to produce and sell Green Energy and Vertroleum™ fuels. For more information please visit www.sstp.us.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors available from the Company.

Contact Information