# Blue Sphere Corporation: Renewable Energy Biogas Generation

- Link: https://greenlivingguy.com/2015/02/blue-sphere-corporation-renewable-energy-biogas-generation/
- Published: 2015-02-13T20:31:13-05:00
- Author: greenlivingguy

In the world of renewable energy, innovative solutions are constantly emerging. 
Especially to [combat climate change](https://greenlivingguy.com/2011/10/ge-energy-helps-scottish-distiller-go-green-with-biogas-powered-gas-engine/)
and reduce our reliance on fossil fuels. One such groundbreaking development is 
the recent announcement by Blue Sphere Corporation.  It’s regarding the closing 
of a joint venture.  This is for a remarkable 5.2 MW biogas generation facility 
in Charlotte, NC. More interestingly, this exciting endeavor represents a significant
step towards a greener future.  Thereby harnessing the power of organic waste.  
Especially to produce clean and sustainable energy.

## Blue Sphere Corporation

Therefore, biogas is being a versatile and renewable energy source. So this facility
has the potential to make a substantial impact on the local community.  That’s both
[environmentally and economically](https://greenlivingguy.com/2012/02/scottish-distiller-goes-green-with-efficient-biogas-powered-gas-engine-from-ge-energy/).
Join us as we delve into the details of this exciting venture and explore the benefits
it brings to the forefront of the green energy movement.

Blue Sphere Corporation (OTCQB: BLSP) (the “Company” or “Blue Sphere”), a clean 
energy company that develops, manages and owns waste-to-energy projects. For it 
announced today the closing of a joint venture (the “Closing”) to develop, construct
and operate a 5.2 MW biogas generation facility. For it’s located in Charlotte, 
NC (the “Project”) with affiliates of York Capital Management.

#### Blue Sphere Biogas Project

Under the terms of the joint venture, Blue Sphere owns 25% of the Project and received
an initial payment of $1,250,000 in cash. So at the closing with a second payment
of $1,175,000 to be paid in two equal installments of $587,500 later in 2015. All
upon the Project’s achievement of each of mechanical completion and commercial operation.

Blue Sphere CEO Shlomi Palas stated that, “We closed on a joint venture to develop
a significant food [waste to energy](https://greenlivingguy.com/2020/07/waste-to-energy-technologies-that-transform-waste/)
facility in the United States.  Especially which, under the current construction
timeline for the Project, is anticipated to commence production and sale of electricity
during the fourth quarter of 2015. We booked our first revenue in the history of
the Company from the cash payment received at the Closing.  Moreover, upon successful
completion of the Project, expect to earn regular revenue.  That’s from the sale
of electricity and compost and feedstock tipping fees.”

#### Conclusion

If successful, this project will create approximately 95 jobs and $5.5 million in
investment in the Charlotte region over the next 5 years.

On May 12, 2009 the City of Charlotte, NC approved a 5-year contract with Blue Sphere
Corporation.  It’s a subsidiary of BSR Inc., to provide renewable energy products
and services.  Especially to its municipal customers. With the closing of this agreement,
we anticipate that the City will generate 2.8 million kWh of renewable energy per
year, which will support the development of the local green economy and the creation
of new green jobs. What’s more, this project is a perfect example of how a partnership
between government, businesses and citizens can promote environmental sustainability,
economic growth and job creation.

Construction on the Charlotte Biogas project is scheduled to begin in the fall of
2013. We will keep you [updated on progress](https://greenlivingguy.com/2014/02/raritan-bay-lead-cleanup-progress-and-updates/)
as we progress through the development process and construction timeline.

Charlotte, NC – February 9, 2015 –

⌊blue sphere corporation⌉⌊blue sphere corporation⌉
___________________________________________________________________________________

Source: [Blue Sphere Corporation](https://www.nasdaq.com/market-activity/stocks/blsp/news-headlines)

[http://www.bluespherecorporate.com](http://www.bluespherecorporate.com)

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 greenlivingguy

 The Green Living Guy, Seth Leitman is an independent power producer, a green living
expert, and Editor of the McGraw-Hill, TAB Green Guru Guides. Seth is also an Author,
Radio Host, Reporter, Writer and an Environmental Consultant on green living. The
Green Living Guy writes about green living, green lighting, the green guru guides
and more. Seth's books range from: # Build Your Own Electric Vehicle by Bob Brant
and Seth Leitman (2nd and 3rd editions) # Build Your Own Plug-in Hybrid Electric
Vehicle by Seth Leitman # Build Your Own Electric Motorcycle by Carl Vogel # Green
Lighting by Seth Leitman, Brian Clark Howard and Bill Brinsky # Solar Power For 
Your Home by David Findley # Renewable Energies For Your Home by Russel Gehrke #
Do-it-Yourself Home Energy Audits by David Findley # Build Your Own Small Wind Power
System by Brian Clark Howard and Kevin Shea # and more green living books to follow.

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