July 10, 2013 at 23:35 PM EDT
Biomass Secure Power, Inc. Announces Exclusive Negotiation Agreement
Abbotsford, British Columbia, July 10, 2013 – (eTeligis via Accesswire) - Biomass Secure Power, Inc. (OTCPink: BMSPF) (the "Company") is pleased to announce that they have signed an Exclusive Negotiation Agreement with the Natchitoches Parish Port Commission ("NPPC"). This agreement gives our wholly owned subsidiary Biomass Power Louisiana L.L.C. ("BPL") for a period of 90 days from July 5, 2013 the exclusive rights to negotiate in good faith a long term lease on 50 acres of land within the NPPC property. In consideration of NPPC's agreement to negotiate exclusively with it, Biomass Power Louisiana L.L.C. has paid a fee of $15,000. A portion of this option fee will be applied to the first payment of any long term lease negotiated with the NPPC. BPL expects to sign a twenty year lease with an option for an additional 10 years within the 90 day time frame. The proposed chipping plant at Natchitoches will support the pellet plant at Baton Rouge by delivering wood chips by barge via the Red River.
BPL plans to complete its lease option with the Port of Greater Baton Rouge prior to end of August after which the construction of phase one of the pellet plant will commence. Plans are in place to build the plant in four phases over several years.
Phase one consists of three production lines each capable of producing 340,000 tonne per year of biomass pellets. When phase 1 is complete the company will have the capacity to produce one million tons of pellets per year.
The Company would also like to take this opportunity to thank Slawomir Kownacki for his service as a Director of the company. Mr. Kownacki has tendered his resignation from the board as he has other opportunities he wishes to explore. We wish Suavek best wishes in all of his future endeavors and thank him for his service.
About the Company
Biomass Secure Power, Inc. is incorporated in the Province of British Columbia. The Company has designed its biomass pellets plants to produce 340,000 tonnes of pellets per line. This allows the Company to leverage the engineering over multiple lines and several plants, as key equipment will be identical in each plant. Public filings and financial information on the Company can be found at: www.sedar.com.
Safe Harbor Statement:
This information includes certain "forward-looking statements." The forward-looking statements reflect the beliefs, expectations, objectives and goals of the Company management with respect to future events and financial performance. They are based on assumptions and estimates, which are believed reasonable at the time such statements are made. However, actual results could differ materially from anticipated results.
On Behalf of the Board,
BIOMASS SECURE POWER, INC.
President and CEO
Contact: 604 807 4957
SOURCE Biomass Secure Power, Inc.
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