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Biomass Secure Power Inc. is an innovative company dedicated to the supply and production of high quality enviromentally sustainable torrified wood biomass pellets for general use as a substitute for fossil fuels which will then be sold to power producers.
Plant to have a total capacity of 1.04 million tonnes per year output with annual revenue of approximately $200,000,000
Phase #1 to produce 400,000 tonnes with annual revenue of approximately $80,000,000. Buildout is expected to continue after phase two to bring production capabilities to one million tonne per year.
BSP plans to rapidly roll out up to five plants by 2022 with total production of 5 million tonne per year.
**** Construction for phase # 1 expected to start July 1, 2019!!! *****
SEC Filings:
All Company Filings are at: http://www.sedar.com/search/search_form_pc_en.htm
Search Company for newest filing: http://www.sedar.com/search/search_form_pc_en.htm
Share Structure:
Shares Outstanding: 650,159,975 a/o December 31, 2017 (Insiders hold over 80% of the shares outstanding!!)
Float: 57,634,283 a/o Mar 01, 2011
Authorized Shares: Unlimited a/o Mar 01, 2009
Shareholders of Record 597 a/o Dec 15, 2010
Contact info: info@biomasssecurepower.ca
Telephone: 604 807 4957
Stock Info: http://www.otcmarkets.com/stock/BMSPF/quote
*Note: BMSPF is current on ALL it's filings with the BC Securities Commission (BCSC). BMSPF files in British Columbia and NOT in the US. ALL filings can be viewed on SEDAR.COM ( See link in Ibox )
Recent PR's: BIOMASS SECURE POWER INC. ENTERS INTO A LICENSING AGREEMENT http://www.einnews.com/pr_news/442239712/biomass-secure-power-inc-enters-into-a-licensing-agreement
BSP SECURES FIBRE SUPPLY FOR PHASE 1.
http://upticknewswire.com/biomass-secure-power-inc-fibre-supply-secured/
ONLINE RADIO INTERVIW WITH JIM CARROLL, CEO OF BMSPF.
http://smallcapvoice.com/blog/3-27-17-smallcapvoice-interview-with-biomass-secure-power-inc-bmspf/
BIOMASS SECURE POWER SELECTS EPC CONTRACTOR FOR PHASE 1 !!
https://upticknewswire.com/biomass-secure-power-inc-announces-epc/
UPDATE ON BOND FINANCING !!
https://upticknewswire.com/biomass-secure-power-inc-receives-increase-bond-allocation/
FINANCING OF PHASE 1 !!
https://upticknewswire.com/biomass-secure-power-inc-tax-free-bond-status-approved/
BONDS APPROVED!! (Official Government Document)
http://gov.louisiana.gov/assets/ExecutiveOrders/JBE17-03.pdf
BMSPF IN THE PRESS:
http://www.bioenergy-news.com/display_news/11729/biomass_secure_power_gets_financial_boost_to_help_build_biocoal_plant/
http://www.chateausaintdenis.com/news/blog/natchitoches-named-among-100-micropolitans-in-nation-for
Biomass Power Louisiana signs engagement letter for pellet plant
http://www.bizjournals.com/prnewswire/press_releases/2013/03/05/NE70957
http://biomassmagazine.com/articles/10709/biomass-secure-power-secures-location-for-louisiana-pellet-mill
Management team:
Jim Carroll, President / CEO
Prior to becoming an officer of the Company Mr Carroll was a self employed businessman since 1992. He has owned a mortgage brokering company and was involved in the building of town homes. From 1972 to 1992 he was involved in the banking industry.
Andrew Burns, VP Engineering
Mr. Burns has been an engineer since 1979 specializing in certain types of burner technology such as Immersion Burners with Ceramic Tubes, Small Bore High Velocity Immersion Burners, Submerged Combustion Equipment, Strip Line Galvanizing and Solution tanks, Low Nox Radiant tube technology. Mr Burns has been responsible for projects in North and South America, Japan, Korea, Bahrain, Iran, Poland, Russia, Thailand, China and Mexico. He has had many papers published in various periodicals and books. He has presented technical papers at various meetings of AGA, ONGA, CIM, NARA, AFRC, AISE, Wire Association, CSCE, Hamilton and District Energy Forum and has attended seminars and exhibitions involving the Wire Industry, Non Ferrous Melting Industry, Gas Associations in the USA, Canada and Europe.
Susan Burba, CFO
Susan is a senior accounting and financial management executive with experience in finance and operations management. Susan demonstrates the ability to streamline business operations that drive growth and increase efficiency and bottom line profit. She possesses solid leadership and communication skills with excellent interpersonal skills.
Our Current Business:
Our Business Plan was reviewed and rewritten in October 2018 to reflect current status and plans. The Company is implementing the business plan including an increase in the production capacity of Phase 1 at Natchitoches and development of a roll out plan that targets a doubling of the production capacity each year for 4 years after Phase 1 at Natchitoches has been commissioned. On June 30, 2018 the Company acquired River Energy (RBE) a company based in the USA that has developed patented technology for the production of biocoal using a fluid bed reactor. RBE successfully completed the development of a small scale production plant in Wyoming. Samples prepared at the Wyoming plant were provided to potential end users for testing in power boilers where the fuel was proved to be a suitable fuel for power generation with little performance dropoff when compared with whitewood pellets. The Company has decided to move ahead with the construction of phase one of the biocoal plant at Natchitoches, Louisiana. Phase 1 will see the construction of 400,000 tonnes/yr. of biocoal. An MOU is in place for 200,000 tonne with a USA power producer. We are waiting for confirmation of shipping cost that will make this a valid off-take. Several power producers in Europe and Japan are considering off-take agreements that will sell out phase one and additional 600,000 tonne to be built in phase two. On January 31, 2017 the Governor of Louisiana John Bel Edwards signed Executive Order Number JBE 17-03 (Carry-Forward Bond Allocation 2016) Pursuant to and in accordance with the provisions of Section 146(f) of the Internal Revenue Code of 1986, as amended, and in accordance with the request for carryforward filed by designated issuer, the issuer(s), for the following carry-forward project(s), and in the following amount(s): ISSUER: Louisiana Public Facilities Authority. Carry-Forward Project: Biomass Power Louisiana, LLC Carry-Forward Amount: $88,536,200 The Company has completed all of the preliminary engineering and plant design and layout. Wood PLC (formally Amec Foster Wheeler) is the EPC. Wood has completed the engineering report to a FEL 2 standard and this has been forwarded to Bank of America Merrill Lynch for their review. Bank of America Merrill Lynch (BAML) has reviewed the FEL 2 report and developed a plan to complete sale of tax exempt bond and construction commencing July 1, 2019. Leidos has been selected to complete an independent review of engineering completed by the Company and wood plc. This process is expected take six to 8 weeks. The FEL 2 budget reflects the doubling of production of phase 1. In order to cover additional costs the Company asked the Louisiana Public Facilities Authority to increase tax exempt bond issue to $140 million. The Company has received verbal approval and are waiting for Governor of Louisiana to sign approval. In conjunction with Bank of America Merrill Lynch and our bond solicitor a definitive schedule has been developed to complete milestones to ensure we can draw down on tax exempt bond on July 1, 2019. The business plan calls for the development of phase one with production starting in the third quarter 2019 with a target after a ramp up period of 400,000 tonnes. Phase two will commence upon completion of phase 1 adding 600,000 tonnes/yr. of production capacity bringing total plant production upon completion to one million tonne per year. Hawkins Wright has predicted that the global demand for wood pellets will reach 64MT in 2023, including 32MT in the industrial sector and 32MT in the heating sector. This shows that growth opportunities are available, however we see the market growing faster as torrefied product becomes available in quantity. In 2014 global consumption of coal was 8,165 billion short tons. Governments around the world are eliminating or reducing the amount of coal being used, which will open additional markets for bio-coal. A one percent penetration would require the production of 80m tonnes of biocoal. Inquiries from the steel manufacturers have shown interest in using biocoal as a replacement for coal in order to reduce and meet carbon emission requirements. This along with some other industrial opportunities opens up additional potential markets in areas other than power production and heating. Biocoal has a number of technical advantages over white wood pellets: higher calorific value (22Gj/T vs 17Gj/T. Coal has 25Gj/T); higher bulk density 750-800 kg/m3 versus 650 kg/m3 for white pellets; bio-coal is hydrophobic enabling it to be stored outside; eliminating the need for storage buildings; improved combustion characteristics with a potential efficiency and capacity increase at certain converted coal plants. Shipping costs per unit of energy is lower than whitewood pellets due to the higher calorific value and bulk density; Existing facilities that use coal can be converted to bio-coal with little or no modifications or investment. The resulting savings in avoided CAPEX is arguably the most valuable benefit for power producers when comparing bio-coal with white pellets. The Company plans to sell biocoal at the same price per Gj as charged by white pellet producers which gives biocoal a distinct cost advantage for potential users.
*****Update 1: Off-take agreement is in place for 200,000 tonne/yr for a minimum of 20 years.*****
*****Update 2: MOU is in place to commence shipping of Biocoal 3rd quarter of 2019 and agrees to ship annual volumes as follows: up to 200,000metric tonnes in 2019, up to 300,000 metric tonnes in 2020, and up to 400,000 metric tonnes in 2021 or as adjusted by further agreement.*****
EPC CONTRACTOR WEBSITE:
NEW!! https://www.amecfw.com/
Satellite view
Natchitoches Parish Port - Chipping Plant - http://goo.gl/maps/aGj23
Port and area information.
Natchitoches Parish Port Website
Red River Economic Development
L.E.D. Louisiana Economic Development. https://www.opportunitylouisiana.com/
Port of Rotterdam: https://www.portofrotterdam.com/en/cargo-industry/bio-industry
Bio-Coal Plant: https://www.portofrotterdam.com/en/news-and-press-releases/welcome-to-a-new-generation-coal-plants
https://www.portofrotterdam.com/en/cargo-industry/energy-industry/fossil-energy
Industry Education:
Financial Metrics of Torrefied Wood as a Coal Substitute
http://www.biofuelsdigest.com/bdigest/2011/06/16/torrefied-wood-a-new-bio-coal-process-that-is-ready-to-go/
http://biomassmagazine.com/tag/pellets/
http://biomassmagazine.com/articles/13837/european-biomass-association-releases-2016-bioenergy-outlook
http://biomassmagazine.com/articles/13796/futuremetrics-offers-wood-pellet-demand-spot-pricing-estimates
http://task40.ieabioenergy.com/wp-content/uploads/2013/09/t40-torrefaction-2016.pdf
Contact information:
Jim Carroll
President / CEO
604 807 4957
Charts:
BMSPF - Daily Candlesticks
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