Blue Sphere Corp. Breaks Ground on Charlotte Project

CHARLOTTE, N.C.  -- Blue Sphere Corp. (OTCQB: BLSP) (the "Company" or "Blue Sphere"), a clean energy company that develops, manages and owns waste-to-energy projects, announced today that on Monday March 23, 2015, it broke ground on both its first waste-to-energy project and new US headquarters in Charlotte, NC.

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In attendance for this ground breaking was the Mayor of Charlotte Dan Clodfelter and corporate representatives from Duke Energy, who has contracted to purchase electricity which will be produced from the ongoing conversion generated by this project. "Blue Sphere's presence in Charlotte confirms our commitment to clean, renewable energy and the Smart City concept," Clodfelter said.

The Blue Sphere facility will produce 5.2 megawatts of clean energy from uneaten food that would normally end up in local landfills. That electricity will then be sold to Duke Energy to provide power to local homes and businesses.

The National Resource Defense Council estimates roughly 40 percent of food is wasted in the United States every year, amounting to a $165-billion loss. Blue Sphere said their solution is a win-win for all involved.

"This facility is the ultimate landfill because we take waste in the back end, nothing going out. There's no smell, zero product, just electricity and compost," said CEO Shlomi Palas.

Blue Sphere hopes to be up and operational by the end of the year and to have 11 additional facilities around the world built by 2018.

Blue Sphere generates electricity from biogas derived from organic waste, which is mostly food waste, and sells this electricity to leading electric companies through long-term power purchase agreements. Waste-to-energy is one of the fastest growing segments in the renewable energy markets. According to SBI Energy, the thermal and biological segments reached $6 billion in 2012 and will reach $29 billion by 2022.

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About Blue Sphere Corporation
Blue Sphere Corporation is a company in the cleantech sector as a waste-to-energy project Integrator. Blue Sphere develops waste-to-energy and other renewable energy projects. The Company aspires to become a key player in the global waste-to-energy and renewable energy markets. For further information please visit the Company's website