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.
President and CEO
Contact: 604 807 4957
SOURCE Biomass Secure Power Inc.