FORT LAUDERDALE, FL — (Marketwired) — 11/14/13 — BioPower Operations Corporation (“BioPower” or the “Company”) (OTCQB: BOPO), announced today that its wholly-owned subsidiary, Global Energy Crops Corporation (“Global Energy”), entered into a 50-50 joint venture agreement with Alternative Green Today, LLC (“AGT”) to license the Joint Venture–s Intellectual Property for the production of cellulosic biofuels. Targeted companies will include oil companies, sugar companies and all other producers of ethanol and transportation fuels. Global Energy will manage the joint venture.
The joint venture intends to provide a platform of sustainable solutions for the production of cellulosic biofuels and biobased products in a flexible and cost-effective manner. Dr. Marco Baez-Vasquez, Chief Scientific and Technology Officer for BioPower, stated, “Our latest work and results have made significant progress towards configuring an advanced process for the production of cellulosic biofuels economically. We intend to license our technology to sugar producers, ethanol producers, transportation fuels and energy companies looking to achieve low capex and OPEX backed biofuels production goal.”
Randall Padget, CEO of AGT, stated, “We have been working for many years to produce an advanced microbial based technology that could be used for the conversion of cellulosic sugars into ethanol at much greater rates and much lower costs than achieved by others today. We believe we have achieved a major breakthrough and we have partnered with Global Energy to improve, market and license our sustainable platform solutions throughout the world.”
BioPower Operations Corporation (OTCQB: BOPO) is a pre-revenue, developmental stage company focused on developing profitable sustainable solutions focused on the environmentally-friendly bio-conversion of biomass and organic wastes into useful and valuable products.
The Company–s subsidiary, Global Energy Crops Corporation (GECC), is focused on licensing the technology of the GECC/AGT joint venture to world class companies for the production of cellulosic ethanol and sub-licensing patented waste conversion technology capable of converting organic wastes from humans to the water and wastewater industry.
This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law. There is no assurance that a definitive agreement will be completed.
For more information, please contact:
BioPower Operations Corporation
Robert Kohn
CEO
Email:
Phone: 954.202.6660