LOS ANGELES, CA / ACCESSWIRE / July 13, 2021 / 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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https://www.accesswire.com/655204/Clean-Visions-Clean-Seas-Subsidiary-Expands-into-LatAm-First-Facility-in-Ecuador-Projects-135M-in-Annual-Revenue
