CLNV - Clean Vision's Clean-Seas Subsidiary Expands into LatAm - First Facility in Ecuador Projects $13.5M in Annual Revenue
July 13 2021 - 9:39AM
InvestorsHub NewsWire
LOS ANGELES, CA -- July 13, 2021 -- InvestorsHub
NewsWire -- Clean Vision
Corporation (OTC
PINK:CLNV), a holding company that acquires and operates
sustainable cleantech and green energy businesses, today announced
that its Clean-Seas subsidiary has signed a Letter of Intent with
the Mayor of Naranjal, in the Guayas Province of Ecuador, to
establish a public-private joint venture partnership in which
Clean-Seas will deploy a waste plastic-to-energy processing
plant.
The 30-year
agreement, signed July 9, by Naranjal Mayor Ab Luigi Rivera
Gutierrez, states that Naranjal has committed to delivering its
municipal solid waste (MSW) of 200 metric tons daily to the
Clean-Seas facility - to be built on land granted by the government
- ensuring that Clean-Seas will have a long-term supply of
feedstock to render the project financially
compelling.
In his Letter
to Clean-Seas, Mayor Gutierrez wrote: "This MSW is currently being
put in large landfills and creating an environmental challenge for
the Naranjal region." He adds, "We look forward to starting the
detailed negotiation process for establishing a public-private
partnership with the Clean Seas JV for the 30-year MSW feedstock
agreement and bringing this vital technology to Naranjal, for
remediating the MSW in the region to reduce its environmental
impact and avoid the imminent saturation of local landfills such as
Las Iguanas."
Clean-Seas has
partnered with EcoVerde, an Ecuadorean company, to promote the
responsible and practical repurposing of MSW into valuable
environmentally friendly commodities. The Naranjal project has an
estimated cost of $30 million, and the Company expects that some of
the capital to initiate its launch will come from EcoVerde and its
partners.
Expected
revenue from the plant is approximately $13.5 million annually,
providing a project payback period of less than three years. The
plant's output will consist of clean-burning diesel fuel, bio-char,
and industrial oil; it will also generate approximately 70,000
carbon credits annually. Clean-Seas, through its
recently announced JV
partnership with GGII, has an off-take agreement in
place with a multinational oil company for its clean, sulfur-free
diesel fuel.
"This is a
huge first step, and validation of Clean-Seas' longstanding
efforts, to penetrate Latin America," said Dan Bates, Clean Vision
Chief Executive Officer. "Upon completion, the plant in Ecuador
will be the foundation upon which we plan to build throughout the
region.
"It's become
clear that countries in emerging economies as well as those in the
developed world are faced with a waste crisis and the Clean-Seas
solution can be an important, value-added solution. The first
‘domino' is always the most difficult, after which I expect an
accelerating number of our proposals will be invited and accepted.
We anticipate announcing additional locations throughout the
region, this summer, that will commit to deploying our
technology."
About Clean Vision
Corporation
Clean Vision
is a public company that acquires and operates a portfolio of
synergistic companies in the sustainable clean technology and green
energy sectors. For more information, visit: cleanvisioncorp.com.
About Clean-Seas,
Inc.
Clean-Seas,
Inc. provides efficient and cost-effective technology solutions
that address the global waste plastic crisis as well as creating
economic opportunity and social benefit in emerging and developed
economies across the world. It offers "best in class" pyrolysis
technology deployment for plastic waste-to-energy recycling,
including securing feedstock and off-take agreements. For more
information, visit clean-seas.com/.
Safe Harbor
Statement
This press
release may include forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, including
statements related to anticipated revenues, expenses, earnings,
operating cash flows, the outlook for markets, and the demand for
products. Forward-looking statements are no guarantees of future
performance and are inherently subject to uncertainties and other
factors which could cause actual results to differ materially from
the forward-looking statements. Such statements are based upon,
among other things, assumptions made by, and information currently
available to, management, including management's own knowledge and
assessment of the Company's industry and competition. The Company
assumes no duty to update its forward-looking
statements.
CONTACT:
Clean Vision Corporation
Dan Bates, CEO
d.bates@cleanvisioncorp.com
Investors:
Frank Benedetto 619-915-9422
Twitter: @CleanVisionCorp
SOURCE: Clean
Vision Corporation
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