SAN JUAN CAPISTRANO, CA -- (Marketwire) -- 09/03/09 -- BioCentric Energy Holdings, Inc.
(PINKSHEETS: BEHL) today announced the following shareholder information:
The company released today the execution of a Master Services and Teaming Agreement between Gruppo Oil and Energy, LLC and BioCentric Energy. BioCentric has received an earnest money deposit that will be held in escrow until BioCentric delivers an inclusive, and comprehensive Plan of Action for the initial ten acre Algae Pro Photobioreactor in Inner Mongolia. BioCentric will also receive onsite management and VPN management fees as well as a royalty payment for achieved results and a commission in the event of BioCentric securing the offtake agreement. BioCentric shall also have a small ownership stake in the facility.
Mr. Fisher, CEO of BioCentric stated today, "We appreciate the opportunity to deliver our cold weather solution to Inner Mongolia. Being adjacent to the MSW incineration facility will provide both the heat and CO2 source to maintain our solution and the sorghum being provided for our solution will offset the low PAR data. It is our intent at this time to explore several different strains of algae for maximum profitability."
