Biomass Secure Power Inc. acquires River Basin Energy Inc.
Biomass Secure Power Inc.(BSP) acquired all outstanding shares of River Basin Energy. BSP now owns all intellectual property and patents developed by RBE.
Biomass Secure Power Inc (OTCMKTS:BMSPF)CHILLIWACK, BC, CANADA, June 29, 2018 /EINPresswire.com/ -- Biomass Secure Power Inc. Acquires River Basin Energy
Chilliwack British Columbia June 30, 2018, Biomass Secure Power Inc. (OTC Pinksheets: BMSPF).Biomass Secure Power Inc. (BSP) has acquired 100% ownership of River Basin Energy Inc (RBE) a Delaware incorporated company. This acquisition is an important event for BSP as it gives the Company outright ownership of all intellectual property developed by RBE. This includes a number of patents for processing of biomass in a fluid bed reactor to manufacture Biocoal at commercial scale. Patents also covers the pelletizing and briquetting of Biocoal at a high temperature allowing BSP to customize hardness of Biocoal to meet customer’s needs.
Wood PLC is the EPC for Biocoal plant to be constructed at Natchitoches LA under Biomass Power Louisiana a wholly owned subsidiary of BSP. Upon completion of phase one we believe this will be the first commercial scale Biocoal plant in the world. Phase one has been increased to 400,000 tonne of production, upon completion the plant will produce 1,040,000 tonne per year. BSP will announce ground breaking prior to July 30, 2018.
BSP’s plans too rapidly roll out up to five plants by 2022 with total production of 5 million tonne per year. This growth will be required to fulfill requirements being discussed with several clients. With governments around the world announcing that existing coal fired power plants must be converted to renewable fuels the next 5 – 10 years offers opportunities for rapid growth.
Biocoal has many advantages over white wood pellets such as little or no CAPEX required to convert, 30% more energy in each shipment reducing transportation costs, can be stored outside and handle like coal. More information can be found on our website: www.biomasssecurepower.com.
About the Company: Biomass Secure Power Inc. is incorporated in the Province of British Columbia and trades on the OTC Pinksheets under the symbol BMSPF. BSP is a development stage company that plans to build a plant in Natchitoches LA. Public filings and financial information for Biomass Secure Power Inc. can be found at 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
Jim Carroll, President - CEO
Biomass Secure Power Inc.
604 807 4957
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