SOURCE: Sustainable Power Corp.

December 11, 2007 10:37 ET

Sustainable Power Corp. Signs Agreement for Commercialization of Green-Based Products

Company Receives $200,000 Initial Deposit

NATCHEZ, MS--(Marketwire - December 11, 2007) - Sustainable Power Corp. (PINKSHEETS: SSTP) today announced it has signed a Memorandum of Understanding ("MOU") with Farmers Sustainable Energy International (FSEINT) located in Quincy, Illinois, for the proposed formation of a joint venture whose purpose is the conversion of feedstock to a variety of Green-based products. SSTP has received an initial $200,000 deposit of the $2,000,000 that will be required to implement the initial terms of the agreement.

The proposed joint venture is being established to leverage FSEINT farmers' crops to obtain the maximum dollar per acre utilizing principal harvest products and recycled non food grade spoilage, stover and residues as feedstock for SSTP's conversion into a variety of Green-based products. In order to maximize the various feed stocks, FSEINT will provide SSTP with both land and facilities for the production of cellulosic and non-cellulosic biofuels and Biogasoline, green-based organic fertilizers and soil treatments.

SSTP has received the initial deposit of $200,000 and is working to fulfill the initial terms of the MOU, which calls for 2 reactors and 10 SSTP biodiesel reactors to be shipped to a Northern Illinois facility that FSEINT will provide for the joint venture. Furthermore, upon start-up of the initial Biogasoline reactor, the MOU provides that FSEINT will advance the remaining $1,800,000 for further implementation of the MOU. FSEINT's responsibility is securing the necessary feedstock's from its own relationships, procuring government grants and further promoting the business of the joint venture.

Both parties are working on finalizing a definitive agreement as quickly as possible, and will report upon doing so.

About Sustainable Power Corp.

Sustainable Power Corp. is an international green energy service provider focused on environmentally safe power generation. The company has the exclusive rights to develop and manage a portfolio of green power plants utilizing a renewable fuel source able to be produced from one-fifth of the soybean acreage traditionally associated with biodiesel. For more information please visit www.sustainablepower.com.

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:
    Redwood Consultants, LLC
    415-884-0348