Current Report Filing (8-k)
August 13 2015 - 6:57AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
8-K
Current
Report
Pursuant
to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): August 7, 2015
BioPower
Operations Corporation
(Exact name of registrant as specified in its charter)
Commission
file number: 333-172139
Nevada |
|
27-4460232 |
(State
of incorporation) |
|
(I.R.S.
Employer Identification No.) |
|
|
|
1000
Corporate Drive, Suite 200,
Fort
Lauderdale, Florida |
|
33334 |
(Address
of principal executive offices) |
|
(Zip
Code) |
(954)
202-6660
(Registrant’s telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This
Current Report on Form 8-K may contain “forward-looking” statements or statements which arguably imply or suggest
certain things about our future. Statements which express that we “believe,” “anticipate,” “expect,”
or “plan to,” and any other similar statements which are not historical fact, are forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on assumptions that we believe
are reasonable, but there are a number of factors that could cause our actual results to differ materially from those expressed
or implied by these statements. These factors, risks and uncertainties are discussed in our Annual Report on Form 10-K for the
year ended November 30, 2014, as updated from time to time in our filings with the Securities and Exchange Commission (the “Commission”).
You are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements speak as of
the date hereof, and we do not undertake any obligation to update or revise any forward looking statements, except as expressly
required by law.
ITEM
1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Effective
August 7, 2015 (the “Closing Date”), BioPower Operations Corporation wholly-owned subsidiary, Green3Power Operations,
Inc. (“G3P”) through its’ subsidiary Green3Power St. Lucie LLC (the “Company”) entered into an agreement
(the “Contract”) with St. Lucie County, Florida for the purpose of the Company building, owning and funding the St.
Lucie County Renewable Energy Facility (the “REF”). Under the terms of the Contract, the Company will build a renewable
energy facility for approximately one hundred and seventy-five ($175) million dollars which will take 1,000 tons per day of municipal
solid waste, construction and demolition waste, green wastes and used tires including wastes from the current St. Lucie County
landfill for twenty years. The County will pay a tipping fee, according to the type of waste, for the term of the Contract including
a CPI index increase. The Contract is automatically renewable for an additional ten years after the end of the Contract if neither
party has terminated the automatic renewal period in year eighteen.
The
Company intends to convert the 1,000 tons per day of wastes into synthetic gas (“syngas”) using the Company’s
unique exclusively licensed gasification process. Then the Company will use the Fisher-Tropsch system to turn the syngas into
synthetic ultra-low sulfur diesel fuel which can be used directly for consumption without any further mixing or refining.
The
Company will seek to enter into supply agreements and provide a discount to the County for diesel fuel for their vehicles and
diesel fuel equipment. The Company also intends to sell diesel fuel to local industrial and commercial diesel fuel users.
The
Company is in discussions with various permanent financing providers for the REF. There can be no assurance that the Company will
obtain permanent financing for the REF.
G3P
will provide permitting, design, engineering, and equipment procurement in conjunction with R.G. Vanderweil Engineers located
in Boston, Massachusetts
G3P
has a twenty year operations and maintenance agreement for the REF.
The
foregoing description of the terms of the Contract, does not purport to be complete and is qualified in its entirety by reference
to the Contract a copy of which is filed as Exhibit 1.1 to this Current Report on Form 8-K and incorporated herein by reference.
The St. Lucie County contract number is C15-08-363.
ITEM
9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits.
Exhibit
No. |
|
Description |
|
|
|
1.1 |
|
Renewable
Energy Facility Contract between Green3Power St. Lucie County and St. Lucie County, Florida
effective as of August 7, 2015.
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
|
BioPower
Operations Corporation |
|
|
|
|
By: |
/s/
Robert D. Kohns |
|
|
Robert D. Kohn, |
|
|
Chief Executive
Officer |
Date: August
13, 2015
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