SOURCE: BioPower Operations Corporation

BioPower Operations Corporation

August 11, 2015 08:30 ET

BioPower Operations Corporation's Subsidiary, Green3Power Executes Agreement With St. Lucie County, Florida to Build a $175 Million Renewable Energy Facility on the St. Lucie County Landfill

FORT LAUDERDALE, FL--(Marketwired - Aug 11, 2015) - BioPower Operations Corporation (OTCQB: BOPO) ("BioPower") announced today that its wholly-owned subsidiary Green3Power Operations Inc. (G3P) through its subsidiary Green3Power St. Lucie LLC (the "Company") has executed an agreement to build, own and fund a $175 Million Renewable Energy Facility (REF) which will convert approximately 1,000 tons per day of municipal solid waste, green waste, construction and demolition waste and used tires into approximately 80,000 gallons per day of ultra-low sulfur synthetic green No. 2 diesel fuel. The facility will utilize G3P's exclusively licensed thermal gasification process to produce synthesis gas (a.k.a. as syngas) and then through the Fischer-Tropsch process produce diesel fuel. The Fisher-Tropsch process has been in use for over ninety years turning gases into diesel fuel. The REF will be built at the existing St. Lucie County Solid Waste Landfill Management Facility site. By diverting all of the incoming waste the REF will contribute extending the life of the landfill, reducing environmentally harmful greenhouse gas emissions and creating renewable energy from waste. G3P's strategic partner on the project is R.G. Vanderweil Engineers ("Vanderweil"). G3P will have ownership in the facility and operate and maintain the facility for twenty years after it is funded.

The Chair of the Board of the St. Lucie County Commissioners, Paula A. Lewis stated, St. Lucie County believes that this project will complement our current recycling program by recovering more waste for recycling while significantly reducing the amount of waste being landfilled and creating renewable energy from the remainder of waste that otherwise would have been landfilled.

Dr. Neil Williams, PhD, P.E., CEO of G3P stated, "St. Lucie County has a long history of implementing innovative and cost-effective technologies at the St. Lucie County Solid Waste Management Facility. This facility will enable St. Lucie County to increase their landfill air space over time while reducing harmful greenhouse gas emissions. To that end, and due to the close proximity of the site to the G3P corporate offices, I95, and the Florida Turnpike, G3P plans to construct our showcase facility at the St. Lucie County site."

The new REF will process all incoming organic waste, eliminating the disposal of any organic material into the landfill, instead recovering it for use to produce fuel. In this endeavor G3P has been working with its strategic partner, Vanderweil. When completed the REF will convert approximately 1,000 tons per day of municipal solid waste, construction and demolition debris, used tires and yard waste into ultra-low sulfur synthetic diesel fuel. If additional waste is needed it will be excavated and recovered from the County's landfill, creating more landfill air space, and reducing greenhouse gas emissions from the landfill. 

G3P and Vanderweil will provide design, permitting, and engineering and procurement services during the next six months while the facility is being designed and permitted. After six months they will provide construction support while the facility is being constructed. G3P will also provide day-to-day operations and maintenance for the facilities for 20 years after the facility is built. 

Garen Demirchian, P.E. a Partner with Vanderweil Engineering, stated, "The G3P Renewable Energy Facility will be a highly efficient facility that is highly protective of human health and the environment. The St. Lucie Renewable Energy Facility has been designed to a higher standard that includes recycling water from the processes and extracting water from the wastes in order to prevent the use of drinking water and prevent discharge of wastewater to the sewer, and reuse of the ash and conversion of the ash to concrete block."

An environmentally sound alternative energy company that can design, permit, procure equipment, manage construction, and operate and maintain Renewable Waste-to-Energy facilities, which use a unique thermal gasification process to convert numerous wastes to synthesis gas (syngas) which can then be converted to electricity or through the use of the Fischer-Tropsch process into synthetic fuels. This creates an upgrade to the current turnkey systems for the conversion of waste to syngas using gasification technology in use around the world for the last 30 years. Wastes that can be converted include: municipal solid waste (trash); tires; construction and demolition debris; medical waste; industrial waste; pharmaceutical waste; biological waste; sewage sludge; APHIS waste and much more. G3P's management team has historically provided design, permitting and engineering and management services in over 250 waste projects. G3P is developing waste-to-energy projects globally and in many areas of the United States.

Forward-Looking Statements
Certain statements in this press release and oral statements made from time to time by representatives of the Company are forward-looking statements ("forward-looking statements") within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date hereof and are based on current expectations as well as the beliefs and assumptions of management. Our actual results could differ materially from those stated or implied in forward looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, performance or products, underlying assumptions and other statements that are not historical in nature, including those that include the words "subject to," "believes," "anticipates," "plans," "expects," "intends," "estimates," "forecasts," "projects," "aims," "targets," "may," "will," "should," "can," the negatives thereof, variations thereon and similar expressions. Such forward-looking statements reflect the Company's current views with respect to future events, based on what the Company believes are reasonable assumptions. Whether actual results will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including risks and uncertainties discussed in the reports that the Company has filed with the Securities and Exchange Commission (the "SEC"); risks related to the proposed transaction, including the ability to consummate the acquisition and the timing of the closing of the acquisition; general economic, market, or business conditions; the Company's ability to retain key personnel; the Company's ability to obtain financing for new projects on commercially reasonable terms; the Company's ability to integrate successfully the new acquisition into its ongoing business; and the ability to achieve the anticipated results of the proposed transaction and other potential acquisitions; the Company's ability to comply with government regulations; changes in laws or regulations or policies of federal and state regulators and agencies; and other circumstances beyond the Company's control. Refer to the section entitled "Risk Factors" set forth in the Company's Annual Report on Form 10-K for the year ended November 30, 2014, as well as the Company's Quarterly Reports on Form 10-Q and other SEC filings for a discussion of important risks, uncertainties and other factors that may affect our business, results of operations and financial condition. The Company's stockholders are urged to consider such risks, uncertainties and factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at or by which any such performance or results will be achieved. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

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