Engine to Increase Top-End Revenue Performance by 2%
CHARLOTTE, NC / ACCESSWIRE / October 15, 2018 / Blue Sphere Corporation (OTCQB: BLSP), an international Independent Power Producer (IPP) in the clean energy and waste-to-energy markets, is pleased to provide an update on its natural oil generator facility in Udine, Italy. Blue Sphere is currently in the process of completing its planned update of the power generation engine at the Undine facility. As part of the facility upgrade, the Company has purchased a Mitsubishi 4-cycle, water-cooled, turbo-charged inline 6 that can generate Nominal Power of 1050 KwH. This engine upgrade will increase the facility's top-end revenue performance by approximately 2%.
Shlomi Palas, Blue Sphere's CEO said: "We are very excited to continue making improvements in our Italian facilities. These investments in upgrading our engines provide us with a strong outlook for performance for years to come."
The engine is currently at Blue Sphere's maintenance workshop where Mitsubishi technicians will complete the required modifications on the engines cylinders, intercooler system and sealing in order to provide the increased performance while using clean vegetable oils as its fuel. The engine is expected to be delivered to the Udine facility on October 11, 2018 and the installation will be completed in five business days in which the workshop is operational. The facility is expected to be back online and operating at its full capacity by October 22, 2018.
About Blue Sphere Corporation
Blue Sphere Corporation is a diversified independent power producer that develops, owns, and operates clean-tech, biogas cogeneration and waste-to-energy facilities in the globally. The Company primarily converts organic waste into electricity, but also has the ability to generate heat, natural gas and organic byproducts through various technologies.
Blue Sphere facilities eliminate waste that would normally be disposed in landfills, reduce greenhouse gas emissions and protect water quality, helping to solve important global environmental issues. Blue Sphere is headquartered in Charlotte, North Carolina and has operations in the United States, Israel and Europe. For additional information about Blue Sphere Corporation, please visit the Company's website: www.bluespherecorporate.com.
Forward-Looking Statements
This press release contains certain forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995), which are subject to risks and uncertainties and may change at any time. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors including, without limitation, (i) uncertainties regarding general economic and market conditions, (ii) uncertainties regarding changes in the clean tech sector, (iii) uncertainties regarding implementation of the Company's business strategy, and (iv) other risk factors as outlined in the Company's periodic reports, as filed with the U.S. Securities and Exchange Commission. As such, there is no assurance that the initiatives described in this press release will be successfully implemented or meet expectations. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events.
SOURCE: Blue Sphere Corporation
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