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Blue Sphere Announces the Accomplishment of a Major Milestone in the Implementation of its 5.2 MW Waste-to-Energy Project in North Carolina: Purchase of Suitable Property!

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EVEN YEHUDA, Israel, December 13, 2012 /PRNewswire/ --

Blue Sphere Corp. (OTCBB: BLSP) (the "Company" or "Blue Sphere"), a company in the Cleantech sector as a waste-to-energy and clean energy project integrator, is pleased to announce that it has purchased a suitable property for its 5.2 MW waste-to-energy plant in North Carolina.

"This represents a major break-through for the Company.  Until now, Blue Sphere had 4 of the 5 major components of the project accounted for: (i) 15-year PPA, (ii) feedstock supply with a tipping fee and compost off-take, (iii) reputable EPC provider and (iv) suitable technology.  Blue Sphere has now completed the 5th and final component:  the land.  With this in hand, we have started the countdown to construction and project implementation, which are expected to commence in Q1 2013.  All critical path components of this project are now complete. In parallel, we are rapidly approaching the same status for our 3.2 MW plant in Rhode Island." said Shlomi Palas, CEO of Blue Sphere Corp.

About Blue Sphere Corp.

Blue Sphere Corp. is a company in the cleantech sector as a waste-to-energy project Integrator. Blue Sphere develops waste-to-energy and other renewable energy projects. The Company aspires to become a key player in the global waste-to-energy and renewable energy markets. For further information please visit the Company's website http://www.bluespherecorporate.com

Forward-Looking Statements  

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Litigation Reform Act of 1995, which are subject to risks and uncertainties and may change at any time. Among these are: (i) uncertainties regarding our ability to obtain adequate financing on a timely basis including financing for the projects described in this release and other specific projects, (ii) uncertainties regarding the future of the Kyoto Protocol and binding greenhouse gas warming commitments of industrialised countries, (iii) uncertainties regarding the market for and value of carbon credits including carbon credits associated with industrial gases, as well as the duration and amount of estimated emissions from specific projects, (iv) political and governmental risks associated with the foreign countries in which we operate, (v) unanticipated delays associated with project implementation including designing, constructing and equipping projects, as well as delays in obtaining required host country and United Nations approvals, (vi) the development stage of our business and (vii) our lack of operating history. As such, there is no assurance that the initiatives described in the press release will be successfully implemented or meet expectations.

The Company assumes no obligation to update the information in this release.

For further information please contact Shlomi Palas at +972-50-779-6794 or info@bluespherecorporate.com.

SOURCE Blue Sphere Corp.



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