Category: Baystreet Newswire
Company: BioPower Operations Corporation
Date: Tuesday, July 08, 2014
Fort Lauderdale, Florida / ACCESSWIRE / July 8, 2014 / BioPower Operations Corporation (OTCQB:BOPO) ("BioPower" or the "Company") announced today that it has signed a non-binding term sheet to acquire EnviroPower Management, Inc. for CV Preferred Stock subject to certain performance criteria and 7,682,500 shares of common stock of the Company with a two year lock-up provision on such shares. This acquisition positions BioPower as a converter of waste-to-electricity through the environmentally sound and patented advanced thermal output gasification technology. EnviroPower Management has the global exclusive license in perpetuity to the patented gasification process which includes several enhancements that greatly increase the thermal efficiency and reduces emissions compared to pyrolysis, plasma, incineration, biomethanization, and anaerobic composting methods.
Robert Kohn, CEO of BioPower, commented, "This acquisition is a game changer for BioPower, as it fulfills a long road of testing different technologies for the conversion of biomass and wastes to electricity and biofuels. This acquisition immediately provides proven environmentally sound technology with significant capabilities for converting MSW, better known as trash into electricity."
EnviroPower Management’s team has provided engineering, procurement, construction (EPC) or management services in over 250 waste projects.
Dr. Neil Williams, PhD, P.E., stated "Our patented gasification technology is capable of converting a significant amount of different waste streams into electricity including municipal solid waste (trash); tires; construction and demolition debris; medical waste; industrial oils and industrial waste; pharmaceutical waste; biological waste; clinical waste; sewage sludge; APHIS waste and much more. We are developing waste-to-energy projects using gasification globally and in the United States, for conversion to electricity wherever such projects can be financially successful. The U.S. recognizes that getting rid of industrial and medical wastes through landfilling can no longer be a viable long-term solution for a sound environment."
Dr. Williams will be granted a seat on BioPower’s Board of Directors.
Additionally, upon completion of this transaction, the Company's diluted share count will be approximately 38 million.
ABOUT ENVIROPOWER MANAGEMENT, INC.
A clean alternative energy company that designs, procures equipment, constructs and may partially own and operate Gasification Waste-to-Energy power plants, which use their exclusive worldwide license for the patented unique thermal gasification technology to convert numerous wastes to electricity and biofuels. This is an upgrade to present gasification technology in use around the world for the last 30 years. EnviroPower Management’s team has provided engineering, procurement, construction (EPC) or management services in over 250 waste projects. The innovative gasifier designs enable the company to significantly enhance the thermal output providing an increase in revenues and bottom lines and one of the cleanest and most cost effective technologies for the conversion of wastes to produce electricity. Utilizing an advanced patented dryer system on the front-end enables solid wastes, construction & demolition wastes and tires as feedstock to produce electricity. The specially designed front-end drying system is helpful in developing countries where there is low density waste and high moisture content. Wastes that can be converted to electricity include: Municipal Solid Waste (MSW) –Trash, Biomass Wastes – Trees, Shrubs, etc., Organic Wastes – Food and Animal Wastes, Industrial, Industrial Oils and Industrial Process Wastes, Construction and Demolition Waste, Tires, Sewage Sludge and Medical, Clinical and Biological Wastes
ABOUT BIOPOWER OPERATIONS CORPORATION
BioPower Operations Corporation (OTCQB:BOPO) is a development stage company formed in 2011 that has grown biomass and tested a variety of technologies for the conversion of biomass and biomass waste into electricity and advanced bio-fuels.
Certain statements in this press release and oral statements made from time to time by representatives of the Company are forward-looking statements ("forward-looking statements") within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the timing and likelihood of the EnviroPower acquisition. These forward-looking statements are made as of the date hereof and are based on current expectations as well as the beliefs and assumptions of management. Our actual results could differ materially from those stated or implied in forward looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, performance or products, underlying assumptions and other statements that are not historical in nature, including those that include the words "subject to," "believes," "anticipates," "plans," "expects," "intends," "estimates," "forecasts," "projects," "aims," "targets," "may," "will," "should," "can," the negatives thereof, variations thereon and similar expressions. Such forward-looking statements reflect the Company's current views with respect to future events, based on what the Company believes are reasonable assumptions. Whether actual results will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including risks and uncertainties discussed in the reports that the Company has filed with the Securities and Exchange Commission (the "SEC"); risks related to the proposed transaction, including the ability to consummate the acquisition and the timing of the closing of the acquisition; general economic, market, or business conditions; the Company's ability to retain key personnel; the Company's ability to obtain financing for new projects on commercially reasonable terms; the Company's ability to integrate successfully the new acquisition into its ongoing business; and the ability to achieve the anticipated results of the proposed transaction and other potential acquisitions; the Company's ability to comply with government regulations; changes in laws or regulations or policies of federal and state regulators and agencies; and other circumstances beyond the Company's control. Refer to the section entitled "Risk Factors" set forth in the Company's Annual Report on Form 10-K for the year ended November 30, 2013, as well as the Company's Quarterly Reports on Form 10-Q and other SEC filings for a discussion of important risks, uncertainties and other factors that may affect our business, results of operations and financial condition. The Company's stockholders are urged to consider such risks, uncertainties and factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at or by which any such performance or results will be achieved. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
FOR MORE INFORMATION PLEASE CONTACT:
BioPower Operations Corporation
SOURCE: BioPower Operations Corporation