ABBOTSFORD, British Columbia,
June 15, 2011 /PRNewswire/ -- Biomass
Secure Power Inc. (OTC:QB: BMSPF) (the "Company") is pleased to
announce that the Project start date of July
1st 2011 for the construction of our first 500,000
tonne/yr whitewood pellet plant has been accepted by the Board of
Directors. The engineering and construction program
anticipates breaking ground at Plant one on 1st October
2011. Start-up and commissioning is scheduled to commence
in September 2012. Gross revenue from
this plant is projected at $75
million per year.
Management wants our shareholders to know that we have also been
diligently working on the purchase of 2 additional plots for future
plant locations. Once purchases are finalized and financing closed,
construction on both plants will commence immediately. These
negotiations are expected to be finalized within the next 30 days
as management awaits final counter offers. With 3 plants in the
works in our next fiscal year, Biomass anticipates potential
cumulative revenues of $270 million
per year. Biomass Secure Power CEO Jim
Carroll states, "Our net profit cannot be disclosed at this
time, however, we'll be right up there amongst the elite global
corporations in our industry."
We welcome multiple engineering partners for these exciting
projects. We will be working with a number of companies who have
substantive experience in the construction of large pellet plants
in Canada and the USA. Key plant features will be the
ability to fire hog for plant wide energy requirements
and a distributed control system that will enable all plant
operations to be monitored at any location with a broadband
connection. In the selection process of engineers and various
partners for our pellet plants, management extensively reviewed
dozens of opportunities and feel as if we've chosen the absolute
best in every area of construction.
The construction plan now adopted, will commence with the
building of Line 1 at Plant 1. The first line will be set up to
produce up to 250,000 tonnes/yr. of Whitewood pellets. The storage building for
feed stock and for pellets will feature programmable stackers
and reclaimers and will be setup to provide flexible storage
options. The construction for line 2 will commence
1st February 2012 and will include a
50,000 t/yr Torrefaction furnace to be operated as a
pilot facility for a projected 250,000 tonne/yr furnace. The
pilot line will also be used to establish the market
for Torrefied pellets. Space will be allocated at Plant 1 for
the full scale torrefication furnace to be installed at some
future date.
About Biomass Secure Power Inc:
Biomass Secure Power Inc. is incorporated in the Province of
British Columbia. The company is
focused on the development of its torrefied wood pellet plant
business. Additional details on the Company are available on
EDGAR (www.sec.gov/edgar.shtml) and SEDAR (www.sedar.com).
Safe Harbour 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.
"Jim Carroll"
Jim Carroll
President and CEO
Contact: 604 807 4957
www.biomasssecurepower.ca
SOURCE Biomass Secure Power Inc.