SOURCE: Sustainable Power Corp.

October 13, 2008 10:24 ET

Sustainable Power Corp. CEO Update

BAYTOWN, TX--(Marketwire - October 13, 2008) - Sustainable Power Corp. (PINKSHEETS: SSTP) presented the following communication from its President and Chief Executive Officer, M. Richard Cutler:

SHAREHOLDERS AND INVESTORS OF SUSTAINABLE POWER CORP.

It has now been over a month since I took over as President and Chief Executive Officer of Sustainable Power Corp. During that month (as well as during my previous time as corporate counsel), I have seen SSTP make amazing advancements in both its technologies and its partnerships.

Shareholders and investors should be aware that at this point SSTP is currently focusing 85% of our resources on the production of electricity as opposed to the production of biofuels and oil. We have made this our focus for one primary reason: SSTP has a guaranteed customer for any and all electricity produced -- the local utility company. In addition, the cost to connect SSTP to the grid will be paid for by the utility company, not SSTP. By pointing in this direction, we avoid the arbitrary whims of the fuel markets as the cost of electricity is very stable and not at all effected by the rise and fall of commodity prices (crude oil). The current downturn in oil prices will have no impact on our success.

SSTP is currently producing a natural "bio" gas, which can be put into the world's largest generator. In our previous tests as well as our presentation to a key investor and partner last Tuesday, we used our raw bio fuels in a generator with no reduction in output from the generator as opposed to traditional diesel fuel, but substantial reductions in greenhouse gases and emissions. We are now working with that partner and investor to finish tweaking our operations at the Baytown facility, connect to the grid and sell electricity. We will also enter into agreements with that partner to construct comparable facilities in numerous other locations throughout the United States and in many other parts of the world.

Make no mistake, our technology exceeds currently available production standards. AmSpec reported that our clean burning Vertroleum® gas produced from our reactors does not contain any carbon monoxide and could power the world's largest gas turbine, which generates 340 megawatts, and in combination cycle will generate 530 megawatts. 530 megawatts is sufficient to provide electrical power to three million people.

Of course, if SSTP chooses to switch and produce more bio-crude, SSTP absolutely has the flexibility to do so. The SSTP technology has the ability to produce bio-gasoline, and bio-jet fuel straight from the reactor, as well as 49 other potential fuels. Our joint venture with Envirocompanies permits us to sell anything we produce.

On top of these tremendous opportunities, in our current environment it's also amazing to know that not only is SSTP a "green company," in which all exhaust that comes from the running of the generators has little or no pollution, but also is now utilizing GARBAGE in the form of Municipal Solid Waste as our base fuel. We entered into an agreement this week with Amecks, Inc. who will provide us with 300 tons a day of pellitized and compacted garbage which will be sufficient for our reactors... and by the way they pay us $35 a ton to take it. We not only reduce greenhouse gases and emissions in our process, but we also alleviate the nation's waste problems along the way. SSTP's kWh produced from MSW outdistances the power produced by MSW incinerators by more than 10 times.

With these agreements firmly in place and financing at the ready, Sustainable Power Corp. stands prepared to move forward quickly with its aggressive plan to produce and sell electricity and biofuels. We are close to having our SEC public filings with audited financial statements ready as well, which we hope to file with the SEC in the next few weeks. We have worked to eliminate distractions from previous partners and focus our energy on the Company's successes and future. Together with you our investors we can help change the world by making energy and dependence on foreign sources a thing of the past.

/s/ M. Richard Cutler, President and Chief Executive Officer

About Sustainable Power Corp.

Sustainable Power Corp. is an international green energy total service provider focused on environmentally safe power generation. The company has the exclusive rights to develop and manage a portfolio of green energy plants utilizing a renewable fuel source able to be produced from municipal standard waste and other green waste products. For more information please visit www.sustainablepowercorp.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

  • Investor Contact:
    Fusion Consulting Group, LLC.
    (702) 434-8692