Today Spectrum Blue Steel and the Municipal Mayor for Santa Rosa Honorable Josefino M. Angeles signed a joint venture agreement to develop, finance, design and engineer the construction and operation and maintenance of the new biosphere gasification facility in the city of Santa Rosa Nueve Ecija, Philippines.
With more than 300 people in attendance including True Green Energy Group and its affiliates the contract was approved under the local government code of 1991 (R.A. No. 7160) and the Ecological Solid Waste Management Act of 2000 (R.A. No. 9003), where as local government units are mandated to establish solid waste disposal systems or environmental management systems, and to set up environmentally sound solid waste management facilities, and accord greater private sector participation in its solid waste management system.
Spectrum Blue steel who holds a power generation license falls under section 30 of the renewable energy act (R.A. No. 9513) of 2008 which encourages the adoption of Waste to energy facilities as a means of achieving energy and self reliance for the country and the reduction of its dependence on imported fossil fuels for the energy requirements of the economy.
Spectrum has agreed to set up a waste management facility using the biosphere MKV turning waste to energy using the gasification technology invented by Dr. Chris McCormack – Chairman and Chief Executive Officer of Global Environmental energy corporation GEECF.OB.
Spectrum Blue Steel’s Founder Ronald Flynn stated that it will help the city of Santa Rosa achieve Zero Waste Community and at the same time generate clean environment friendly electricity. The term of the SBS/Santa Rosa contract is for twenty five years with the provision that the both parties can extend the contract by mutual agreement.
The municipality of Santa Rosa has agreed at their own cost they will make available and buy the site, give access, and 100% right of way for the deployment of the biosphere facility. The site is located in Barangay Soledad Santa Rosa Nueva Ecija on 2 hectors of land. Spectrum will also collect all the relevant tipping fees for the collection of the MSW, in addition to recycling and pelletizing the garbage for clean green electricity.
The contract between the parties was signed by Francisco T. Delgado New president and C.E.O. of Spectrum Blue Steel. Honorable Josefino M. Angeles Municipal Mayor, John Lamb President of True Green Energy Group, Honorable Irene S. Bernardo vice Mayor for the city.
Spectrum is a domestic corporation duly registered under the laws of the Philippines and holds a license to the Biosphere Technology from Global Environmental energy corporation GEECF.OB. Global is a fully integrated energy company whose interests include electrical power generation, oil and gas exploration and production, clean coal and waste management technologies.
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