Biocoal plant reopened to supply 1,000 tonne samples to coal fired power plants
Biomass Secure Power Inc. (OTCMKTS:BMSPF)
CHILLIWACK, BRITISH COLUMBIA, CANADA, October 25, 2021 /EINPresswire.com/ — Biomass Secure Power Inc. (BSP) (OTC Market Pinksheets: BMSPF). The Company plans to reopen pilot plant located at Laramie Wyoming to fulfill requests for samples requested by several power companies. BSP will supply initial test samples of 20Kg to conduct lab test. BSP will then supply 5,000 tonnes of Biocoal to five companies for test burning in power plants.
BSP is in negotiation with European and Asia companies interested in supply Biocoal under long term off-take agreements. If all supply request result in off-take agreements, it would require 1.3 million tonnes of Biocoal to fill orders.
BSP has developed a licensing program allowing companies to use our patented technology to build Biocoal plants close to power plant locations, reducing cost of Biocoal substantially. Power companies will pay an upfront fee for 25 years license and pay a royalty based on plant production. Two companies have shown interest in this program.
About the Company
Biomass Secure Power Inc. has patented processes that manufactures Biocoal, a replacement fuel used in coal fired power plants. Biocoal reduces Co2 emissions by 96%. BSP process produces Biocoal at costs like whitewood pellets but produces 21.5Gj per tonne compared to 17.4Gj in whitewood pellets.
BSP believes climate change is the world’s number one challenge and is committed to reducing Co2 entering the atmosphere and will continue research to reduce Co2 emissions.
Filings available at www.sedar.ca and OTC Markets
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
Jim Carroll, President – CEO
Biomass Secure Power Inc.
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