BAYTOWN, TX, Jul 02 (MARKET WIRE) --
Sustainable Power Corp. (PINKSHEETS: SSTP) is pleased to announce today
the completion and receipt of Two Million Dollars ($2,000,000.00) from
Pemco Energy AS ("Pemco"), who is part of the Pemco Group of Europe,
payable pursuant to a Stock Purchase Agreement between the Corporation
and Pemco at a price of $0.04 per share; as previously announced.
http://www.sustainablepower.com/news-106.html
The equity purchase in Sustainable Power Corp. further exemplifies the
Pemco Energy AS commitment and confidence in the SSTP technology, as well
as their long-term desire to share in the overall success of Sustainable
Power Corp.
John Rivera, Chairman of SSTP, stated, "We continue to work diligently in
bringing our technology to market worldwide. We can proudly say that we
are striving to be the ultimate green solution to the international energy
crisis."
About Pemco Energy
Pemco Energy is part of the Pemco Group, which is a European trading and
industrial group with manufacturing, distribution and sale of oil and
chemical based products. The Group is represented in 18 countries, and has
a major international profile. The Pemco Group realized revenues of
approximately $500 million USD last year.
About Sustainable Power Corp.
Sustainable Power Corp. is an international green energy total service
provider focused on environmentally safe power generation. The company has
the exclusive rights to develop and manage a portfolio of green energy
plants utilizing a biocrude discovery, a renewable fuel source able to be
produced from non-food feed stock. For more information please visit
www.sstp.us.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. When used in this press release, the words "anticipate," "believe,"
"estimate," "may," "intend," "expect" and similar expressions identify
such forward-looking statements. Actual results, performance or
achievements could differ materially from those contemplated, expressed
or implied by the forward-looking statements contained herein. These
forward-looking statements are based largely on the expectations of the
Company and are subject to a number of risks and uncertainties. These
include, but are not limited to, risks and uncertainties associated with:
the impact of economic, competitive and other factors affecting the
Company and its operations, markets, product, and distributor
performance, the impact on the national and local economies resulting
from terrorist actions, and U.S. actions subsequently; and other factors
available from the Company.
Investor Contact:
Redwood Consultants, LLC
415-884-0348
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