LONDON - Blue Sphere Corp. (OTCBB: BLSP), a developer of carbon reduction projects, today announced the launch of the Company’s new business.
Blue Sphere intends to generate revenue from emission reduction through sales of carbon credits, sales of material and byproducts for energy generation, and government and other subsidies relating to emission reduction.
The company is in advanced negotiations with four potential clients in Uzbekistan, Kazakhstan and the Ukraine. These negotiations are hoped to result in substantial carbon reduction projects for the Company. In addition, the Company has looked into bidding on more than 10 potential projects in Asia, which, if awarded to the Company would be worth sizeable amounts in service and other fees to the Company.
“The global carbon reduction market worth multi-billion dollars is expected to amount to a few trillions of dollars over the next decade,” said Shlomi Palas, Blue Sphere's CEO. “Our aim is to help enterprises worldwide reduce their carbon emissions, meeting the global challengefor greenhouse gas reduction, as well as complying withcarbon reduction regulations.”
Blue Sphere is headed by an experienced management team, with extensive experience in cleantech and environmental issues, as well as in project management and international business.