NASSAU, BAHAMAS--(BUSINESS WIRE)--Biosphere Development Corp (ISIN CA09072D1050, CUSIP 09072D105, WKN A1CWP7, DE:2BD, Frankfurt Stock Exchange FSE 2BD.F) today confirmed that they are installing a Biosphere Process System at Tha Sai, Muang Samut Sakhon, Thailand, where it will be operated by local partner, Bangkok World Green Energy. Biosphere markets Biosphere Systems on license from Global Environmental Energy Corp., (DE:GLI; OTC:GEECF.PK www.geecf.ru).
Bangkok World Green Energy is in advanced negotiations with Biosphere to be the exclusive marketer and operator of Biosphere Systems in Thailand for a 25 year period. Mr Lek Kitiparaporn Chairman of Bangkok World Green Energy has confirmed that they expect to fund and operate 50 Biosphere Systems in Thailand within the next 24 months. Biosphere systems make money from tipping fees and from the sale of electricity, potable water and construction materials.
With a population of over 67 million people, an estimated annual electricity consumption of 134.4 billion KWh1 which is increasing 8.1% per year2, GDP growth of 8.0% in 20103 expanding private investment and increasing exports, Thailand as a newly industrialized economy, the 2nd largest economy in Southeast Asia after only Indonesia, represents an exceptional growth opportunity for Biosphere. In Thailand, Alternative Energy Programs are fully supported by The Royal Thai Government. In addition, Tax incentives and other privileges are provided.
GEECF began manufacturing Biosphere Systems in Thailand in 2010. GEECF is currently manufacturing multiple systems for delivery to True Green Energy’s facility at The City of San Fernando, Pampanga, The Philippines (TGEG Canada, Deutsche Borse AG; DE:TGG) and to Bangkok World Green Energy’s second facility at Sinsakhon Industrial Park, Bangkok, Thailand. GEECF receives revenues from operational Biospheres through Sales, Royalty and Fee agreements with its licensees and their sublicenses which provide for 25 year revenue streams payable to GEECF.
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of the 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections.
Contact: Mr S Ghafari at Biosphere +852 8125 4866 Biosphere Cable Beach Nassau AP-59223-0452 Commonwealth of the Bahamas. biospheredevelopmentcorp@gmail.com
1 https://www.cia.gov/library/publications/the-world-factbook/fields/2042.html
2 http://www.see.ed.ac.uk/~gph/publications/UPEC%202005%20CC.pdf