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Sustainable Power Corp. Announced Today It Has Signed a Memorandum of Understanding With Haytian Tractor & Equipment Co. S.A.
Sustainable Power Corp. (PINKSHEETS: SSTP)
today announced that it has signed a Memorandum of Understanding (MOU) with
Haytian Tractor & Equipment Co. S.A. ("HayTrac") located in
Port-au-Prince, Haiti. The MOU is designed to produce Vertroleum(TM) green
bio fuels that meet all ASTM specifications, including biocrude,
biogasoline, jet fuel, marine fuel and other biofuels to be used in the
generation of 24 megawatts of power.
HayTrac, lead by President Reynold Bonnefile, is the only distributor of
Caterpillar Tractors in Haiti and has been in the electricity business for
58 years. Carrying a high reputation in the industry for quality, service,
and reliability, Mr. Bonnefile will distribute power in two cities; Les
Cayes and Petit-Goave. SSTP and HayTrac's mutual goals in Haiti are to
produce oil and electricity to further foster agricultural growth through
the farming of feedstocks to be used in the venture.
Mr. Bonnefile stated, "I wholly welcome this joint venture which will start
in the south of Haiti. It will contribute to improving the standard of
living of Haitians, especially with the current price of petroleum being as
high as it is today." Scott Hoerr, Director of SSTP added, "Working with
Haiti broadens our growing exposure in the Caribbean, spreading our green
technology where to regions where it is most needed."
In Phase One, Sustainable Power will install, and train in the operation
of, 20 bio crude reactors. SSTP will most likely start with a well known
feedstock that grows fast and easy in Haiti named Jatropha, then will
ultimately use other feedstocks including Algae. HayTrac will remain 10%
owner of the Joint Venture for all endeavors in Haiti.
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 a renewable fuel source able to be produced from one-fifth of the
soybean acreage traditionally associated with biodiesel. For more
information please visit www.sstp.us.
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 U.S.
actions subsequently; and other factors available from the Company.
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