U.S. Sustainable Energy Corp. Announces Stock Dividend
Friday November 3, 11:27 am ET
Company to Spin-Off Sustainable Power Corp. on a One-for-One Basis to USSE Stockholders of Record Dec. 1, 2006
NATCHEZ, MS--(MARKET WIRE)--Nov 3, 2006 -- U.S. Sustainable Energy Corp. (Other OTC:USSE.PK - News) announced today that it will spin-off and distribute its wholly owned subsidiary Sustainable Power Corp. as a dividend to its stockholders of record as of Dec.1, 2006.
John Rivera, CEO of USSEC, stated, "The spin-off of Sustainable Power Corp. reflects the need and opportunity for this wholly owned subsidiary of USSE to become a separately traded public company so that it may focus entirely on green power generation and distribution to municipalities and government entities around the globe. By effecting this spin-off into two separate publicly traded companies, we can maintain the zero emissions status that we have worked so hard to attain. We will be 100% emission free in our state of the art organic 7-3-7 fertilizer manufacturing plant. Our recycling division will work very closely with Sustainable Power Corp. to maximize the efficiencies of the various green power and green co-generations systems currently in the engineering stages both in the United States and European Communities. All USSE shareholders of record as of Dec. 1, 2006 will receive this distribution."
About U.S. Sustainable Energy
USSEC holds patent pending technology for a new breakthrough biofuel and carbon-based fertilizer. USSEC has successfully demonstrated the most cost effective method of producing biofuel estimated at $.50/gallon according to exhaustive studies and independent Lab confirmation. The company has developed the process, units and catalyst that will transform agricultural biomass into biofuel and fertilizer. This technology offers a solution for foreign oil dependence, balancing industrial and agricultural concerns with environmental issues and stabilizing and eventually reversing global greenhouse gas emissions. USSEC's research and development has successfully demonstrated the core technology in its fully functional facility located in Port Gibson, MS. The company is currently pursuing fully scalable implementation and deployment at further locations. Unlike other biomass gasification, the USSEC process can operate at a variety of scale, converting even waste biomass into fuel and fertilizer. The fuel produced will ultimately be more valuable than ethanol or methanol, and the USSEC process can convert biomass materials at an efficiency that cannot be matched by currently planned operations. In addition, unlike virtually all other approaches for biomass to energy, which deplete soil nutrients, the USSEC process restores and enhances soil mineral and carbon content. As a direct result of this revolutionary approach to integrated energy and fertilizer production from biomass, the USSEC process effectively removes Greenhouse Gases from the atmosphere, and can do so profitably before the value of Green Certificates and Carbon Credits are considered.
For further information on the company, please visit www.ussec.us. |
