NEWS NEWS NEWS!!!
Press Release Source: U.S. Sustainable Energy Corp.
U.S. Sustainable Energy Corp. and Sustainable Power Corp. Update Illinois Biofuel Joint Venture
Monday May 7, 11:56 am ET
Groundbreaking Scheduled for June 14, 2007
NATCHEZ, MS--(MARKET WIRE)--May 7, 2007 -- U.S. Sustainable Energy Corp. (Other OTC:USSE.PK - News) and Sustainable Power Corp. (Other OTC:SSTP.PK - News) are pleased to update the previously announced Illinois Biofuel Joint Venture.
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The plan is to construct two facilities with groundbreaking scheduled for June 14, 2007. One facility will produce ASTM-standard biodiesel fuel for transportation, and the other will produce USSE/SSTP biofuel, green energy and 7-3-7 organic based fertilizer. Green energy refers to electricity produced by generators running on biofuel created by the soybeans, and this electricity will be sold by Sustainable Power Corp. into the power grid. The project is currently EPA permitted for production of 30 million gallons a year but expects to soon apply for a 20 million gallon expansion.
Dennis Radcliff, president of Illinois Biofuel Group, said, "This is going to rewrite the book on biodiesel. The USSE/SSTP process is groundbreaking because of the enormous yield produced per bushel of soy. Furthermore, we go from bean to fuel in 8 1/2 minutes reducing our costs further. The process loves soybeans that are not good for other uses, such as high moisture or rotten beans, otherwise known as 'off-spec' beans. We plan on buying all these beans from local farmers and helping restore economic balance into the local and regional farm community."
USSE/SSTP CEO John Rivera stated, "Our intent is to build 24 reactors on the site and process 40 tons per day of feedstock in each reactor. As a result, using conservative estimates, we will produce four gallons of biofuel per bushel of soy, plus 56.34 cubic feet of biogas per bushel, plus 20.1 lbs. of fertilizer/ash per bushel. We will then sell the ash at an estimated .15 cents a lb or use Italian gasification process/generators to create 2.5 MWe of power per ton of ash. The liquid and gaseous fuels will be used in turbines to create electricity. Our model calls for the selling price of power into the grid of $ .063 per KW hour, and the sale of the resulting Green certificates for .030 per KW hour."
About U.S. Sustainable Energy Corp.
U.S. Sustainable Energy offers a revolutionary new energy process that creates three times more fuel per feedstock unit than any other biofuel process. The company has engineered the first bio-renewable fuel able to serve as a replacement to diesel, with none of the negative traits associated with competitive green fuels. The USSEC biofuel is created at a nominal cost as the byproduct of producing organic fertilizer from recycled waste products -- now known as the "Rivera Process," a discovery made during research into agricultural biomass. The technology offers a solution to foreign oil dependence, a significant reduction to the cost of electricity and ethanol production, and the eventual reversal of greenhouse gas emissions.
Management and current operations are focused on leveraging the superior performance and low cost of the fertilizer, biogas and biofuel within bundled plant operations, turnkey energy contracts, ethanol production, and other critical applications that rely on energy as a major cost component. For more information please visit www.ussec.us.
About Sustainable Power Corp.
Sustainable Power Corp is an international green energy service provider focused on environmentally safe power generation. The company has the exclusive rights to develop and manage a portfolio of green power plants utilizing the USSEC biofuel discovery, a renewable fuel source able to be produced from one-fifth of the soybean acreage traditionally associated with biodiesel.
SSTP services range from feasibility studies, project financing, and site design, to full scale facility development and turnkey plant construction. The superior performance that is expected to be gained from using the renewable fuel source allows SSTP to offer green energy facilities ranging from 5MW to 500MW and featuring complete turnkey power solutions that potentially offer exceptional value over all other market alternatives. For more information please visit www.sustainablepower.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and subsequent U.S. actions and reactions.
