SOURCE: Biomass Secure Power Inc.

August 26, 2009 09:00 ET

Biomass Secure Power Inc. and Lower Nicola Indian Band Move Forward With Joint Venture

VANCOUVER, BC--(Marketwire - August 26, 2009) - Biomass Secure Power Inc. (PINKSHEETS: BMSPF) and Lower Nicola Indian Band (LNIB) have signed an agreement to build a co-generation power plant and pellet mill. The joint venture will be developed under the name of Shulus Power Inc with each party owning 50% of the project, LNIB will provide the fibre and 25 acres on which the plant will be built, Biomass Secure Power will provide all of the engineering expertise to design, build and operate the plant. Construction of the plant is expected to be completed by December 2010.

President Jim Carroll stated gross income is projected to exceed fifteen million dollars per year upon completion of the plant. Biomass Secure Power also expects to announce other projects currently being negotiated in the coming weeks.

Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

Contact Information

  • Contact information:

    Shaun Kohlmeier
    Phone: 949 209 9711
    Fax: 928 438 0426

    Jim Carroll
    President / CEO
    604 807 4957