Blue Sphere Announces the Accomplishment of a Major Milestone in the Implementation of Its 3.2 MW Waste-to-Energy Project in Rhode Island: Execution of Purchase Agreement for Suitable Property

EVEN YEHUDA, Israel, April 16, 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 has signed a purchase agreement for a suitable property for its 3.2 MW waste-to-energy plant in Rhode Island.

"This represents a major break-through for the Rhode Island project. We are now able to finalize our other agreements, which were dependent on site control, for this project and accelerate the final steps to financial closure. In parallel, we are on track to close our 5.2 MW project in North Carolina," said Shlomi Palas, CEO of Blue Sphere Corp.

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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

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.

CONTACT: info@bluespherecorporate.comSource:Blue Sphere Corp.