SOURCE: U.S. Sustainable Energy Corp.

April 30, 2007 08:00 ET

U.S. Sustainable Energy Corp. Updates Shareholders on Previously Announced Stock Dividend Distribution

NATCHEZ, MS -- (MARKET WIRE) -- April 30, 2007 -- U.S. Sustainable Energy Corp. (PINKSHEETS: USSE) announced that shareholders of record on December 1, 2006 will receive a 1-for-1 stock dividend in USSE shares. The stock dividend will replace the dividend that USSE originally had planned to make to its shareholders to issue a dividend in Sustainable Power Corp. shares (PINKSHEETS: SSTP).

The Board of Directors decided to make this change in the best interest of shareholders and to assure compliance with applicable securities law rules and requirements which would have otherwise further delayed issuance. In addition, rather than issuing restricted, non-tradeable shares, the dividend shares will be of identical trading status to those owned by each USSE shareholder on Dec. 1, 2006.

Shareholders who held restricted USSE shares on Dec. 1, 2006 will receive a dividend of USSE restricted shares.

Shareholders holding registered USSE shares on Dec. 1, 2006 will receive registered USSE shares which will be immediately tradable.

As previously announced, Sustainable Power Corp has obtained exclusive licensing and distribution rights to certain USSE products. In conjunction with this agreement, SSTP has issued restricted shares of stock to USSE for the exclusive licensing and distribution rights to the bio-waste by-products generated by operations of USSE. Although USSE previously announced a dividend of restricted SSTP shares to USSE shareholders, it will now dividend shares of USSE on the same one-for-one basis to all USSE shareholders of record as of December 1st, 2006, in lieu of issuing the restricted shares in SSTP which now will be held in the USSE treasury. These shares will effectively reflect the Sustainable Power shares.

USSE has recently changed transfer agents to Signature Stock Transfer, Inc., in Plano, Texas, and has been informed by its transfer agent that all records required to finalize the dividend distribution are in place. Accordingly, USSE intends to deliver the stock dividend on May 3, 2007 and expects the stock will trade post-dividend on May 4, 2007.

USSE anticipates that SSTP will generate increasing revenue on an ongoing basis from the distribution and sale of the USSE biofuel products and is hopeful that the SSTP shares it holds in its treasury will appreciate, to the benefit of all USSE shareholders.

John Rivera, Chairman and CEO, stated, "Holding the SSTP shares in USSE's treasury hopefully will benefit USSE's shareholders for many years to come as SSTP realizes a growing revenue stream from SSTP's sale of USSE biofuel products to various power generating entities throughout the U.S. and internationally."

About U.S. Sustainable Energy Corp.

U.S. Sustainable Energy offers a revolutionary new energy process that creates three times more fuel per feedstock unit than any other biofuel process. The company has engineered the first bio-renewable fuel able to serve as a replacement to diesel, with none of the negative traits associated with competitive green fuels. The USSEC biofuel is created at a nominal cost as the byproduct of producing organic fertilizer from recycled waste products -- now known as the "Rivera Process," a discovery made during research into agricultural biomass. The technology offers a solution to foreign oil dependence, a significant reduction to the cost of electricity and ethanol production, and the eventual reversal of greenhouse gas emissions.

Management and current operations are focused on leveraging the superior performance and low cost of the fertilizer, biogas and biofuel within bundled plant operations, turnkey energy contracts, ethanol production, and other critical applications that rely on energy as a major cost component. For more information please visit www.ussec.us.

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 the USSEC biofuel discovery, a renewable fuel source able to be produced from one-fifth of the soybean acreage traditionally associated with biodiesel.

SSTP services range from feasibility studies, project financing, and site design, to full scale facility development and turnkey plant construction. The superior performance that is expected to be gained from using the renewable fuel source allows SSTP to offer green energy facilities ranging from 5MW to 500MW and featuring complete turnkey power solutions that potentially offer exceptional value over all other market alternatives. 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 subsequent U.S. actions and reactions.

Contact Information

  • Investor Contact:
    Jens Dalsgaard
    Redwood Consultants, LLC
    415-884-0348