| Sustainable Power Corporation (OTC.PK: SSTP)
Sustainable Power Corp. is a green energy provider focused on Environmentally-safe power generation and biocrude (Vertroleum®). The company has developed a renewable fuel source able to be produced from non-food, organic feed stock.
The company’s technology for the production of biofuels from municipal solid waste is essentiallythe holy grail of energy production and emission remediation – the creation of high energy biofuels and biogas, and the generation of electricity through the utilization and gasification of ordinary trash.
Biofuels are now a tremendous alternative to fossil fuels. The well-known problem historically has been that biofuels, in particular ethanol and biodiesel, have been too expensive and inefficiently produced (estimated to cost as much as $2.10 per gallon), and in many cases have negatively impacted the food supply because of the use of food products diverted to production of fuel. Many ethanol manufacturers have been driven to terminate operations because of the high cost of fuel supply. The production of ethanol has been stated to drive up food costs by as much as 75% in some instances.
The focus of Sustainable Power Corp. has been the production of biofuel which is (1) cost efficient beyond anything previously achieved with ethanol or other biofuels and (2) not reliant on food crops or other viable bio materials for fuel. The result of this research and development has been the completion of a process which not only accomplishes these objectives, but does so with positive environmental impact revenues as the Company changes the world as we know it with respect to energy.
The SSTP Process
The Vertroleum™ family of fuels is Sustainable Power’s biofuel primary product. The process for creation of Vertroleum® is the result of 21 years of exhaustive research and development and the expenditure of almost $30 million in development capital. Vertroleum™ contains the same hydrocarbons as petroleum crude oil, and when used in the same distillation process used by petroleum companies, can be further refined to produce biogasoline (BG-100), a substitute for gasoline E85 in flexible fuel vehicles, biokerosene (jet fuel), a diesel blendstock naptha (an octane enhancer), heating oil, refined diesel, tars and plastics. The Company’s biocrude oil can be refined into 69 other renewable fuels or chemical materials as well.
How is Vertroleum® created? Effectively, Vertroleum® is created through the “SSTP Process” which is a chemical/mechanical process utilizing a modified gas pyrolysis, but which does not exhibit any of the problems typical of pyrolysis reactions. The most significant difference between the SSTP Process and pyrolysis is the use of a proprietary catalyst. In nature, biomass becomes buried underground and over millions of years of exposure to heat and pressure it converts into fossil fuels. The SSTP Process essentially accomplishes this same eons-long process in only eight and one half minutes.
The SSTP Process can use a vast number of renewable biomass feedstocks, but currently is focused on the use of municipal solid waste because of its other two benefits – (i) the positive environmental impact of the removal of garbage and waste from landfills and (ii) the fact that the company is paid to take it. This feedstock is delivered to the facility and then fed into the “reactors” which are constantly maintained under a vacuum. Upon introduction to the reactors, a proprietary catalyst is mixed with the feedstock as it enters the processing tube, where it becomes active. This creates a unique, highly
energetic, catalytic thermo chemical reaction whereby the carbon, hydrogen, nitrogen, and oxygen atoms in the feedstock become separated from each other at extraordinary reaction speeds that also release the energy that held them together in their molecular bonds. At the completion of the process, the only materials in the processing tube are gases and feedstock ashes known as biochar. The materials are gradually reduced in temperature and the reaction is completed. The cooled gases and biochar are then fed into cyclonic cleaners and then proceed into the condensation chambers that cause the gases to condense in the form of light and heavy liquid biofuels. These SSTP Process biofuels have been trademarked under the Vertroleum® brand name.
The SSTP Process also produces significant amounts of pure hydrogen and methane with no additional toxic or corrosive gases. These gases are collected after the condensation process is complete and are compressed and stored in tanks or are used to drive gas turbine generators which are used to provide electricity.
Development Plan
The company is ready to complete PHASE ONE of their first operating production facility. When completed, this facility would initially be capable of producing approximately 24,000 gallons of fuel oil a day (based on just four “reactors” in the facility). When this factory (or others) reaches full capacity (400 reactors), it would be able to produce 3 million gallons per day of fuel oil.
Phase One
Completion of the first four reactors at the Baytown, Texas facility to the point of commercial production.
Phase Two
Construction of plant for distillation 50,000 barrels a day plant (minimum 2,100,000 gallons of distillate (kerosene, jet fuel, naptha, diesel, marine fuel) and 900,000 gallons of bunker).
Phase Three
Continuing infrastructure and development of reactors to a total of 400 reactors at the Baytown, Texas facility. Completion of a waste processing facility on site for the separation, densification and pelletization of municipal solid waste sufficient to source all reactors. Obtain an EPC contract for an electric generation facility for 540 MWH of electricity into the grid.
LEADERSHIP
M. Richard Cutler, President and Chief Executive Officer
M. Richard Cutler is the principal and founder of Cutler Law Group which he formed in 1996. Cutler Law Group is Sustainable Power Corp.'s corporate and securities law firm. Mr. Cutler has practiced in the general corporate and securities area since his graduation from law school, representing dozens of public companies. Mr. Cutler is a graduate of Brigham Young University (B.A., magna cum laude, 1981); and Columbia University School of Law (J.D. 1984). While at Columbia, Mr. Cutler was honored as a Harlan Fiske Stone Scholar, was Managing Editor of the Columbia Journal of Law and Social Problems, received a Recognition of Achievement with Honors in Foreign and International Law, Parker School of Foreign and Comparative Law, was twice published in the Columbia Journal of Law & Social Problems and was once published in the Texas International Law Journal. Mr. Cutler is a member of the State Bar of Texas and the State Bar of California. After law school, Mr. Cutler joined the national law firm of Jones, Day, Reavis & Pogue where he practiced in the corporate, securities and mergers and acquisitions departments. Mr. Cutler subsequently spent five years in the corporate and securities department of Akin, Gump, Strauss, Hauer & Feld, a Dallas law firm. After moving to the west coast, Mr. Cutler was with the Los Angeles office of Kaye, Scholer, Fierman, Hayes & Handler, a New York-based law firm, where he continued his general business and securities practice. In 1991, Mr. Cutler founded the law firm of Horwitz, Cutler & Beam, where he practiced corporate and securities law for five years before forming his present business, which he moved to Augusta, Georgia in 2002 and to Houston, Texas in 2009. Mr. Cutler has been admitted to the U.S. Federal District Courts, Central and Northern Districts of California, as well as the U.S. Court of Appeals, Ninth Circuit.
Michael Garjian
Chairman of the Board, Chief Technology Officer
Consultant to numerous small business in all areas relating to finance, sales, marketing, manufacturing, administration, legislative and regulatory agency affairs. Currently consulting in areas relating to indoor farming and innovative wind turbines.
Gerald Brent, General Manager
Gerald Brent has worked on the engineering and technical aspects of the SSTP Process since its inception. His dedication to researching and perfecting this process makes him most knowledgeable to the mechanics of the SSTP technology and its byproducts. Mr. Brent is also instrumental in the design and construction of the company’s proprietary equipment, in particular the “reactors”.
Bruce A. Hammack, Chief Financial Officer
Mr. Hammack is a Managing member of Hammack & Co., CPA's, LLC, which has been responsible for our internal accounting. Mr. Hammack received a BBA in Accounting from Western Michigan University in 1977. For almost twenty-five years, Hammack & Co. has been servicing businesses, individuals, trusts and estates throughout Texas, the United States and South America. Mr. Hammack’s clients are principally related to or serve in the refinery, petrochemical and oil and gas business, but are also involved in other industries.
Scott Hoerr, Board Member
Scott Hoerr has nearly 20 years experience in the ethanol and agricultural industries. Most recently, he founded and was an executive board member of Northeast Missouri Grain Processors, the first farmer owned ethanol plant, which had annual revenues of over $100 million. Before that, he was founder and CEO of Prime Source Angus, a genetics-based company that provided breeding services, health protocol, finishing and processing of cattle.
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