By Debra Flakas, Alt. Energy Stocks.
The Blue Sphere, Inc. stock price has weakened in recent months as investors registered their apparent frustration with fundamental developments. Proposed acquisitions of operating biogas power plants in Italy have taken much longer than expected and majority interest in planned biogas plants in the U.S. were sold into joint venture arrangements rather than held as 100% equity positions. Despite these developments, Blue Sphere management has doggedly moved forward on all fronts and there has been measurable progress toward first revenue.
Commercial operation dates have been set for Blue Sphere’s first two biogas development projects in the U.S. Construction progress is on-schedule for a 5.2 megawatt biogas power plant near Charlotte, North Carolina. The facility is scheduled to be connected to the local electrical grid on October 27, 2015. Likewise construction is on-schedule for a 3.2 megawatt biogas power plant in Johnston, Rhode Island. The Johnston plant is on the calendar for connection to the local power grid the third week in December 2015. Both plants deploy anaerobic digestion equipment to convert food waste to energy to heat steam-powered turbines and electrical generators.