Blue Sphere Corp (BLSP)

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Caterpillar to provide $21m for Blue Sphere biogas projects

Sep 02, 2012 (Globes - McClatchy-Tribune Information Services via COMTEX) -- Blue Sphere Corporation (Bulletin Board: BLSP), which acquires, builds, and manages projects for the generation of electricity from organic waste, has signed an agreement in principle with Caterpillar Inc. (NYSE: CAT) to provide $21 million in financing for Blue Sphere's first two projects in the US. Blue Sphere will establish a special US subsidiary to manage the projects. Caterpillar will supply the electricity generation equipment and finance 70 percent of the projects' total cost. Caterpillar will provide $14 million in financing for the first $20 million project, and $7 million for the second $10 million project.