Biomass Secure Power Inc. (OTC:Pinksheet: "BMSPF") (the "Company") is pleased to provide shareholders with an update on the status of lease option at the Port of Greater Baton Rouge. The Company has set up a wholly owned subsidiary in the State of Louisiana to hold the pellet plant project, namely Biomass Power Louisiana L.L.C.
Biomass Power Louisiana L.L.C. effective March 1, 2013 has secured a six month option to lease the site on which they propose to build a pellet plant for a payment of $50,000. Plans are in place to build the plant in four phases over several years. The scopes for phase one will be released for tender April 2013 and construction is expected to commence summer 2013.
Phase one consists of three production lines each capable of producing 340,000 tonne per year of biomass pellets. When phase 1 is complete the company will have the capacity to produce one million tonnes of pellets per year.