BioCentric Energy Holdings, Inc. Announces Funding & Location Information of the Company's First Full Scale Algae Pro Photobiore
May 29 2009 - 4:00AM
Marketwired
BioCentric Energy (PINKSHEETS: BEHL) provides Important Information
Updates for Shareholders:
Dennis Fisher, CEO and Board Member for BioCentric Energy
Holdings, Inc., today announced the first California location for
the full size closed loop Algae Pro Photobioreactor. 32952 Valle
Rd, San Juan Capistrano CA, 92675 is the new location for
BioCentric Energy Corporate Headquarters, and first location for
the Algae Pro Photobioreactor. The owners of this property have
also signed a term sheet agreement to provide additional funding of
1.2 million dollars to 5 million dollars for expansion of
BioCentric Energy Algae, LLC. In the event they are successful in
providing funding for BioCentric Energy Algae, LLC they would
obtain an equity position in the subsidiary LLC. Regardless of
success, BioCentric has been awarded the first four months rent
free and $3,000 per month thereafter. Pictures of the location are
now available on the company's website. The company expects to have
the plant fully operational by late June 2009.
BEHL Management has sufficient capital to complete the Algae Pro
Photobioreactor to be built in San Juan Capistrano.
BioCentric Energy has completed the engineering on an injection
molding design for inexpensive "180 degree turn" for the Algae Pro
Photobioreactor. This key component was submitted to the
provisional patent office yesterday and to four injection molding
companies for competitive bidding.
Death Valley Junction has been put on hold until a Private
Placement Memorandum is completed to generate financing under the
auspices of a separate business unit (SBU) where BioCentric Algae
will partially own, deliver, and manage the hard assets acquired
under the PPM.
The Lake Elsinore Project is cancelled until such time as
Pacific Clay turns their furnaces on again. The source of our CO2
and heat was the reason for interest in this location.
EcoFuel/Bio Cen -- BioCentric has received information on
patentable environmentally altered algae strains from our Czech
Republic partners to achieve maximum efficiencies. Efforts planned
to commence this week on drafting provisional patents have not yet
been started.
Conversations with the Chinese are still ongoing, with the last
face-to-face meeting occurring ten days ago. We have yet to go to
contract. However we have been informed that a definitive contract
will be authored for our signature within the next week. Again,
we'll see.
Grameen Bank/UN -- From our initial proposal, Mr. Mohammed Janus
has requested a White Paper, yet to be authored, to tie
http://www.iimsam.org with the Grameen Bank. This will deliver the
BioCentric Energy Algae Pro Photobioreactors to Farmer Co-ops for a
more profitable and nutritious year-round harvest crop in several
third world countries. Management foresees at least another 100
hours of work required to get to an alpha state for final edit.
Target date for completion is the end of June. This will be a
public document for shareholder review.
Dennis Fisher, CEO for BioCentric Energy, Inc. (PINKSHEETS:
BEHL), regarding location selection stated today, "After thoroughly
reviewing five offered locations in California we made our final
decision on Wednesday as to where to build our first full scale
photobioreactor. All options had attractive features but San Juan
Capistrano exceeded our expectations for both our short and long
term achievements to be realized." Mr. Fisher went on to state, "In
the interim, we have been acquiring and storing the necessary
components or hard assets to deliver our solution and facilitate
our first full scale operation here in So Cal. All required hard
assets are now inbound to the San Juan Capistrano location. We look
forward to delivering on time and under budget... as they say, its
time to put up or shut up... we'll see."
BioCentric Energy, Inc. is dedicated to the development of new
technologies as well as acquiring and fostering companies with
innovative technologies designed to provide unique and effective
green energy solutions for the 21st century. Along with the
cultivation of important relationships and partnerships with
synergistic entities, BioCentric Energy has devoted substantial
time and effort in research and development in order to bring a
range of innovative green alternatives to the marketplace.
Safe Harbor Statement:
Except for historical information contained herein, the matters
set forth above may be forward-looking statements that involve
certain risks and uncertainties that could cause actual results to
differ from those in the forward-looking statements. Words such as
"anticipate," "believe," "estimate," "expect," "intend" and similar
expressions, as they relate to the Company or its management,
identify forward-looking statements. Such forward-looking
statements are based on the current beliefs of management, as well
as assumptions made by and information currently available to
management. Actual results could differ materially from those
contemplated by the forward-looking statements as a result of
certain factors such as the level of business and consumer
spending, the amount of sales of the Company's products, the
competitive environment within the industry, the ability of the
Company to continue to expand its operations, the level of costs
incurred in connection with the Company's expansion efforts,
economic conditions in the industry and the financial strength of
the Company's customers and suppliers. The Company does not
undertake any obligation to update such forward-looking statements.
Investors are also directed to consider all other risks and
uncertainties.
Contact: BioCentric Investor Relations Dale Baeten Investing In
Stock Market, Inc. http://www.investinginstockmarket.net Office:
920-273-7941
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