InfoSpi is Negotiating an Agreement With Obras Sanitarias Sociedad De Estado

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Feb 12, 2010, 04:05 ET

FT. LAUDERDALE, Fla., Feb. 12 /PRNewswire-FirstCall/ -- InfoSpi Inc. (OTC Bulletin Board: ISPI) announced that it is negotiating an agreement with Obras Sanitarias Sociedad De Estado (OSSE) (www.ossesanjuan.com.ar). "An agreement that should generate annual revenue of $20 million from tipping fees and commodity recovery," said Jorge Schcolnik, a representative of InfoSpi and IBS.

OSSE has the responsibility of treating sludge from sewer and industrial sources at Mar del Plata City in the Partido de General Pueyrredon, province of Buenos Aires, Argentina. However, due to their inability to handle this sludge from sewage treatment, they dump it into the Atlantic Ocean contaminating the port and coastal areas. The most important industry in this area, fishing, is affected.

"Our patented technology for sludge treatment will not only eliminate the existing problem but will produce bio-petroleum," said Chris Hamilton, CEO.

The anticipated agreement shall be for a period of 12 years and should be signed in a couple of weeks with Mario Del Olio, president of the board of OSSE. This project is planned to be guaranteed by one of the leading banks in Argentina and confirmed by a Spanish Bank.

"This initial plant shall be the first of a number that will be required by the other municipalities facing this recurring problem. In Argentina alone, InfoSpi expects to generate $100 million annual revenues within 4 years," added Chris Hamilton.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of InfoSpi Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

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SOURCE InfoSpi Inc.