BioCentric Energy: BioCentric Energy Holdings, Inc. Announces Funding & Location Information of the Company's First Full Scale

_{//business-finance.news-articles.net/content/200 .. formation-of-the-company-s-first-full-scale.html}
^{Published in Business and Finance on Friday, May 29th 2009 at 1:33 GMT, Last Modified on 2009-05-29 01:35:03 by Market Wire}

HUNTINGTON BEACH, CA--(Marketwire - May 29, 2009) - BioCentric Energy (PINKSHEETS: [ BEHL ]) provides Important Information Updates for Shareholders:

Dennis Fisher, CEO and Board Member for BioCentric Energy Holdings, Inc., today announced the first California location for the full size closed loop Algae Pro Photobioreactor. 32952 Valle Rd, San Juan Capistrano CA, 92675 is the new location for BioCentric Energy Corporate Headquarters, and first location for the Algae Pro Photobioreactor. The owners of this property have also signed a term sheet agreement to provide additional funding of 1.2 million dollars to 5 million dollars for expansion of BioCentric Energy Algae, LLC. In the event they are successful in providing funding for BioCentric Energy Algae, LLC they would obtain an equity position in the subsidiary LLC. Regardless of success, BioCentric has been awarded the first four months rent free and $3,000 per month thereafter. Pictures of the location are now available on the company's website. The company expects to have the plant fully operational by late June 2009.

BEHL Management has sufficient capital to complete the Algae Pro Photobioreactor to be built in San Juan Capistrano.

BioCentric Energy has completed the engineering on an injection molding design for inexpensive "180 degree turn" for the Algae Pro Photobioreactor. This key component was submitted to the provisional patent office yesterday and to four injection molding companies for competitive bidding.

Death Valley Junction has been put on hold until a Private Placement Memorandum is completed to generate financing under the auspices of a separate business unit (SBU) where BioCentric Algae will partially own, deliver, and manage the hard assets acquired under the PPM.

The Lake Elsinore Project is cancelled until such time as Pacific Clay turns their furnaces on again. The source of our CO2 and heat was the reason for interest in this location.

EcoFuel/Bio Cen -- BioCentric has received information on patentable environmentally altered algae strains from our Czech Republic partners to achieve maximum efficiencies. Efforts planned to commence this week on drafting provisional patents have not yet been started.

Conversations with the Chinese are still ongoing, with the last face-to-face meeting occurring ten days ago. We have yet to go to contract. However we have been informed that a definitive contract will be authored for our signature within the next week. Again, we'll see.

Grameen Bank/UN -- From our initial proposal, Mr. Mohammed Janus has requested a White Paper, yet to be authored, to tie [ http://www.iimsam.org ] with the Grameen Bank. This will deliver the BioCentric Energy Algae Pro Photobioreactors to Farmer Co-ops for a more profitable and nutritious year-round harvest crop in several third world countries. Management foresees at least another 100 hours of work required to get to an alpha state for final edit. Target date for completion is the end of June. This will be a public document for shareholder review.

Dennis Fisher, CEO for BioCentric Energy, Inc. (PINKSHEETS: [ BEHL ]), regarding location selection stated today, "After thoroughly reviewing five offered locations in California we made our final decision on Wednesday as to where to build our first full scale photobioreactor. All options had attractive features but San Juan Capistrano exceeded our expectations for both our short and long term achievements to be realized." Mr. Fisher went on to state, "In the interim, we have been acquiring and storing the necessary components or hard assets to deliver our solution and facilitate our first full scale operation here in So Cal. All required hard assets are now inbound to the San Juan Capistrano location. We look forward to delivering on time and under budget... as they say, its time to put up or shut up... we'll see."

BioCentric Energy, Inc. is dedicated to the development of new technologies as well as acquiring and fostering companies with innovative technologies designed to provide unique and effective green energy solutions for the 21st century. Along with the cultivation of important relationships and partnerships with synergistic entities, BioCentric Energy has devoted substantial time and effort in research and development in order to bring a range of innovative green alternatives to the marketplace.

Safe Harbor Statement:

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

Publication Contributing Sources