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Blue Sphere Corp. Announces Completion of Equity Placement

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  Published in Science and Technology on Tuesday, July 27th 2010 at 5:40 GMT by Market Wire
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LONDON--([ BUSINESS WIRE ])--Blue Sphere Corp. (OTCBB: BLSP) (the "Company" or aBlue Spherea), a cleantech company focused on integration of emission reduction projects, is pleased to announce that it has raised US $500,000 in a Private Placement.

The private placement, which was completed on July 13, 2010, resulted in the issuance of 1,000,000 units priced at US $0.50 each. Each unit is comprised of one share of common stock and one two-year warrant to purchase one share of common stock at an exercise price of $0.60 per share . The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

The proceeds of the private placement will be used for general working capital.

About Blue Sphere Corp.

Blue Sphere Corp. is a company in the cleantech sector as an Emission Reduction Project Integrator. Blue Sphere develops projects for greenhouse gas emission reduction and renewable energy production. The Company aspires to become a key player in the global carbon reduction market, helping enterprises with high pollution emissions achieve their green goals. For further information please visit the Company's website at [ www.bluespherecorporate.com ].

Statements in this press release, which are not purely historical, are forward-looking statements. Forward-looking statements are subject to risks and uncertainties, many of which are beyond our control.These include numerous risks facing companies in the carbon credit industry in general and our company in particular, including the early stage of our business and our ability to grow and adequately finance our business.For a discussion of these as well as other risks facing our company, see our most recent report on Form 10-Q filed with the United States Securities and Exchange Commission as well as other reports we file from time to time with the SEC.