Blue Sphere Announces the Accomplishment of Another Milestone in the Implementation of Its 5.2 MW Waste-to-Energy Project in North Carolina: Duke Energy Has Consented to the Assignment of the Power Purchase Agreement to Blue Sphere's Subsidiary!

EVEN YEHUDA, Israel, March 5, 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 Duke Energy, the largest utility in the United States, has consented to the transfer of the power purchase agreement it signed in respect of the 5.2 MW waste-to-energy plant in North Carolina to Blue Sphere's subsidiary – Bino Sphere LLC.

"This cements the transfer of the project to the Company. We are in the countdown to the commencement of project construction. In parallel, we are approaching the same status for our 3.2 MW plant in Rhode Island," said Shlomi Palas, CEO of Blue Sphere Corp.

For further information please contact Shlomi Palas at 972 50 779 6794 or info@bluespherecorporate.com.

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: These statements are only predictions and involve known and unknown risks, uncertainties and other factors including, without limitation, (i) uncertainties regarding our ability to obtain adequate financing on a timely basis including financing for specific projects, (ii) the financial and operating performance of our projects after commissioning, (iii) uncertainties regarding the market for and value of carbon credits including carbon credits associated with industrial gases, (iv) political and governmental risks associated with the 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 government permits and 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.

Source:Blue Sphere Corp.

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