January 7, 2014 / ACCESSWIRE / New York / Acceleron Equity Research, a stock market research firm focused on the small cap and micro cap sectors, announced today that is has updated its coverage of Blue Sphere Corp. (OTCQB:BLSP) reiterating its BUY rating and 12-month target of $1.61/share, based upon our valuation model. The update discusses recent events for Blue Sphere, including business updates and the effects of the recent reverse split. The complete update report may be downloaded at http://acceleronequity.com/blspupdate3.pdf
Interested investors may download the complete initiation coverage report at:
http://acceleronequity.com/Acceleron_BLSPReport.pdf
About Blue Sphere Corp.
Blue Sphere is an international project integrator, operator and producer of clean energy that has begun project development for multiple organic waste-to-energy projects in the U.S., as well as announcing projects in Israel and Africa utilizing Anaerobic Digestion (AD) technology. Blue Sphere is focused on becoming an industry leader in the U.S. waste-to-energy market. The company plans on fulfilling its goal of developing, owning and operating 60 mega watts of waste-to-energy production in the U.S. and globally in the next 5 years. Blue Sphere, with its financial partners in place, may be able to develop a cookie cutter approach to U.S. based projects and develop several more AD projects in a short amount of time.
Shlomi Palas, CEO of Blue Sphere said the following of his company in a recent interview:
"Blue Sphere develops, builds and operates facilities which use organic waste to produce clean energy. Blue Sphere is positioned in a multibillion dollar arena which is currently serviced by very few and small-scale competitors. The endless supply of waste, which we call "the new oil fields", the new strict Federal and State legislation to divert organic waste from landfills, the already-in-force legislation to substitute fossil energy with renewable energy, the Federal and State incentives for the activities above, all these tectonic movements are the power behind Blue Sphere's raison d'être. Blue sphere has an objective of building a portfolio of 60 MW high yield assets with an IRR greater than 15% with-in the next 5 years."
Blue Sphere went public through a reverse merger in 2010 to participate in the carbon credit trading markets and to develop clean energy projects globally. The management quickly realized that the carbon credit market would not develop as expected and management shifted focus to renewable energy and organics-toenergy markets. Management did not do much marketing of the company or its stock while they were refocusing their company on the clean energy project business.
Blue Sphere's primary focus is now on developing organics to energy facilities in the U.S., and they have some clean energy interests in West Africa with partners, as well.
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Source: Acceleron Equity Research