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Blue Sphere Announces the Receipt of a Term Sheet to Purchase the Tax Credits From Its U.S. Waste-to-Energy Projects for an Indicative Price of Over $11,000,000

EVEN YEHUDA, Israel, Feb. 26, 2013 (GLOBE NEWSWIRE) -- Blue Sphere Corp. (OTCBB:BLSP) (the "Company" or "Blue Sphere"), a company in the Cleantech sector as a waste-to-energy and clean energy project integrator, is pleased to announce that it submitted to the United Nations on December 26, 2012 its request to register its pan-African landfill gas-to-energy programme of activities. The deadline for such submission was December 31, 2012.

Registering the Company's pan-African landfill gas-to-energy programme of activities with the United Nations will lock-in the Company's right to receive carbon credit revenue from any landfill gas-to-energy project it implements in Africa between now and 2020. The Company currently has 5 landfill gas-to-energy projects signed in Ghana and is pursuing additional sites in Ghana and elsewhere in Africa. The first two sites are financed and ready for construction pending the announcement in Ghana of the feed-in tariff for landfill gas electricity, which is expected in Q1 2013. Depending on the number of sites we implement over this period of time, annual carbon credit revenue could reach well into the millions of dollars.

"This is the biggest break-through yet for the Company in Africa. We have now locked-in the right to receive significant carbon credit revenue through 2020 and possibly beyond. We can go anywhere in Africa and implement a landfill gas-to-energy project with a sizable stream of carbon revenue," said Shlomi Palas, CEO of Blue Sphere Corp.

About Blue Sphere Corp.

Blue Sphere Corp. is a company in the cleantech sector as a waste-to-energy project Integrator. Blue Sphere develops waste-to-energy and other renewable energy projects. The Company aspires to become a key player in the global waste-to-energy and renewable energy markets. For further information please visit the Company's website www.bluespherecorporate.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Litigation Reform Act of 1995, which are subject to risks and uncertainties and may change at any time. Among these are: (i) uncertainties regarding our ability to obtain adequate financing on a timely basis including financing for the projects described in this release and other specific projects, (ii) uncertainties regarding the future of the Kyoto Protocol and binding greenhouse gas warming commitments of industrialised countries, (iii) uncertainties regarding the market for and value of carbon credits including carbon credits associated with industrial gases, as well as the duration and amount of estimated emissions from specific projects, (iv) political and governmental risks associated with the foreign countries in which we operate, (v) unanticipated delays associated with project implementation including designing, constructing and equipping projects, as well as delays in obtaining required host country and United Nations approvals, (vi) the development stage of our business and (vii) our lack of operating history. As such, there is no assurance that the initiatives described in the press release will be successfully implemented or meet expectations.

The Company assumes no obligation to update the information in this release.

CONTACT: Mark Radom 972 52 888 0485 info@bluespherecorporate.comSource:Blue Sphere Corp.