Great news!!!!
The business plan must be moving forward for the company to go through all the trouble to bring the company current with its filings and to get the cease lifted.
If you want to know more go to SEDAR website and input Biomass Secure Power under the SEARCH DATABASE section.
From the Annual information report:
Our Current Business
Our business plan is to build plants that will process low quality logs and fibre typically left in the field and
turn it into torrefied wood pellets. We have completed the design and basic engineering work for the
building of our torrefied wood pellet plants. We will sell the torrefied wood pellets to power producers in
Europe that want a cleaner fuel than coal. We have held discussions with power producers regarding the
purchase of our torrefied wood pellets. We have not signed any definitive agreements with any power
producers and there are no assurances any definitive agreements will be signed.
Plans to build a pellet plant in Cowichan Lake B.C. have been put on hold as a better opportunity became
available in the Southern United States. The opportunity to build a much larger plant capable of
producing up to two million tonnes per year with cheaper fibre and labour costs is too appealing to not
proceed.
The Company was approached by a government entity (“GE”) to determine if we had an interest in
building a pellet plant in their state. We have been requested to maintain confidentiality with respect to
the specific location until such time as we are in a position to formally announce commencement of
construction. They presented us with a very attractive package of benefits if we located a plant in their
state. The Company’s management team spent a week traveling the specific state with a representative
of GE where we looked at potential plant sites and met with various politicians and potential fibre
suppliers. The results were so positive the decision was made to proceed with the development of a
facility in the state. We have looked at sites large enough to house our first plant with a capacity to
produce one million tonnes of white wood pellets in Phase One. Phase Two will see production increase
to two million tonnes per year and the conversion from white pellets to torrefied pellets. A storage facility
and chipping plant will be established at a nearby off-site location on water. This facility will consist of 50
acres that will store logs for three to four months prior to chipping and barging to the main plant in Baton
Rouge. This will allow for a fifteen percent reduction in moisture content that will result in significant
savings in drying and processing.
Total construction costs for phase one is projected to be approximately $123,000,000 for one million
tonnes of production with projected gross income of $155 million annual income and an EBITA of $58
million.
We have had discussions with potential purchasers to secure long term sales contracts but no definitive
agreements have been signed and we cannot guarantee that such agreements will be signed. We do not
anticipate beginning the construction of our plants until we have a definitive agreement in place to
purchase our torrefied wood pellets.
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