EVEN YEHUDA, Israel, September 15, 2014 /PRNewswire/ —

Bluesphere Corp. (OTCBB: BLSP) (the “Company” or “Bluesphere”), a clean energy company that develops, manages and owns waste-to-energy projects, announced today it is rapidly executing on its strategy to acquire fully operational waste-to-energy facilities in select global markets. The Company has just signed a Letter of Intent (LOI) to acquire seven such facilities in Italy.

Subject to the satisfactory completion of due diligence, Bluesphere will purchase up to 100% of the seller’s rights, title and interest to seven anaerobic digestion facilities in Italy. The due diligence period is up to 60 days. The facilities currently being evaluated under the LOI have long term agreements with local utilities that are purchasing electricity from the plants. Based on due diligence conducted to date, collectively the plants are producing very high EBITDA, are expected to have an internal rate of return (IRR) of greater than 25%, and if acquired, would generate strong immediate cash for Bluesphere.

“This marks a huge milestone for our Company. We have swiftly implemented our intended strategy of creating near-term revenues and positive cash flows through acquisition,” stated Bluesphere CEO Shlomi Palas. “In addition there are 9 more 1 megawatt facilities in Italy with at least one year of operating history that we are currently evaluating for our portfolio.”

Bluesphere had announced on June 11 that it is pursuing a strategy to acquire fully operational, revenue generating waste-to-energy facilities in select global markets. The Company is augmenting its current build-own-operate model with an acquirer-own-operate strategy in order to create immediate revenue and cash flow generation, putting the Company on a short term path to profitability.

About Bluesphere Corporation

Bluesphere Corporation is a company in the cleantech sector as a waste-to-energy project Integrator. Bluesphere 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. These statements are only predictions and involve known and unknown risks, uncertainties and other factors including, without limitation, (i) uncertainties regarding our ability to obtain adequate financing on a timely basis including financing for specific projects, (ii) the financial and operating performance of our projects after commissioning, (iii) uncertainties regarding the market for and value of carbon credits and other environmental attributes, (iv) political and governmental risks associated with the 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 government permits and 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 Mark Radom at +972-52-798-0831 or info@bluespherecorporate.com.

SOURCE Bluesphere Corp.