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Sustainable Power announces initial agreement with L.Solé S.A for expansion of Baytown, TX facility

June 2, 2008

BAYTOWN, TX — (BIOFUELS DIGEST NEWSWIRE) — 06/02/08 — Sustainable Power Corp. (PINKSHEETS: SSTP) is pleased to announce today that it has signed an initial agreement with with L. Solé, S.A., a leading company in Spain responsible for building over 400 biomass powered facilities throughout Spain, the European Union, Russia and in all of Latin America.

In the initial agreement, L. Solé, S.A. agrees to provide up to $2 billion in financing to fund the expansion of SSTP’s Baytown, TX facility, as well other facilities worldwide utilizing SSTP’s total solution technology. The financing will be in the form of debt, and is therefore non-dilutive to the existing SSTP shareholder base. L. Solé also plans to “ EPC “ (engineer, procure and construct ) a minimum of 400 reactors in Baytown, Texas.

A copy of the initial agreement has been posted to the SSTP website. A further definitive agreement is expected to be consummated between the parties shortly.

The expanded Baytown plant is expected to house a minimum of 400 bio-reactors which would produce approximately three (3) million gallons daily of SSTP’s green biofuel, which includes jet fuel, diesel, and high-octane bio-gasoline meeting all ASTM specifications.

In addition, L. Sole’, S.A. has agreed to immediately deploy a team of engineers and specialists in bio-fuel and power generation to the Baytown facility. Further information on L.Sole’ can be found at www.lsole.com

John Rivera, CEO stated “ This initial first step with L. Solécomes as a result of recent meetings with the Parlacen of Central America. Through our board member and President of the Parlacen, Julio Gonzales-Gamarra, we were introduced to L. Solé. Victor R. Bendeck, CEO of the Latin American division of L. Solé, S.A., is a leader in the biomass field with decades of experience and background in this area. We are particularly delighted to ally with L. Solé to provide a solution to this continuing and growing worldwide oil crisis.”

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 the U.S. Sustainable Energy Corporation’s (“USSEC”) biocrude discovery, a renewable fuel source able to be produced from non-food feed stock. For more information please visit www.sstp.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.

Investor Contact:
Redwood Consultants, LLC
415-884-0348

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    Written by Jim Lane · Filed Under The Daily Biofuel Summary 

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    One Response to “Sustainable Power announces initial agreement with L.Solé S.A for expansion of Baytown, TX facility”

    1. Sustainable Power Corp (Pink SSTP) - Page 152 - Welcome to KaboomStocks.com - #1 in community investments on June 2nd, 2008 1:19 pm

      [...] and district heating Found on Biofuel Digest, Biomass magazine has also posted the PR. Sustainable Power announces initial agreement with L.Sol? S.A for expansion of Baytown, TX facility Biomass [...]

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