SSTP Acquires 1,000 Acres
Sustainable Power Corp. to Acquire 1,000 Acres for 1 Gigawatt Power Plant in Guatemala
Monday August 18, 10:30 am ET
BAYTOWN, TX--(MARKET WIRE)--Aug 18, 2008 -- Sustainable Power Corp. (Other OTC:USSE.PK - News) is pleased to announce that it has reached an agreement to acquire through SSTP Central America S.A., its Central American affiliate, a total of 1,000 acres of property to be used for the construction of a plant for production of Sustainable Power Corp.'s products and installation of a 1 Gigawatt power plant in Guatemala. The agreement includes a requirement that the partner clear a total of 112 acres immediately, which has already commenced. The agreement also includes a manufacturing building near Guatemala City which would be used for testing and initial production. The acquisition will be finalized upon completion of appropriate documentation with the property contributed valued at approximately $4,000,000.
John Rivera, Chairman and CEO of Sustainable Power Corp. stated, "This acquisition continues our intention of expanding our business throughout Central America and in other parts of the world. This plant, when completed, will permit us to begin producing green power at very competitive pricing with our friends in Central America."
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