The patent application claims cover the aggregation of the developed world’s waste plastic stockpiles with emerging market countries through the use of a blockchain-based network, in order to convert the waste stream into a high value, environmentally friendly commodity. A McKinsey & Co. report states that by 2030, “plastics reuse and recycling could generate profit-pool growth of as much as $60 billion for the petrochemicals and plastics sector.”
In 2017, China instituted its National Sword policy which closed its borders to the importation of waste plastic and other recyclable materials. This created a global crisis for developed nations that had used China as its dumping ground. The PCN was created to solve a global problem that faces the developed nations of the world that no longer have a place to export their recyclable materials.
The Clean-Seas PCN is designed to:
- Secure, store and convert developed nations’ plastic waste – utilizing pyrolysis waste-plastic recycling technology
- Produce clean fuels and environmentally friendly commodities
- Reduce waste deposited into landfills, incinerated or polluting rivers and oceans
- Mitigate the impact of fossil fuel-based products
- Assist developing nations in establishing waste recycling/collection infrastructure
- Use blockchain data collection for inputs, outputs, sourcing and exchange data
Commenting on this extraordinary new development, Dan Bates, Clean Vision Chief Executive Officer, said, “The PCN was created to solve a global problem. We recognize that these millions of tons of waste plastic have a high caloric (energy) content and can produce high-value, environmentally friendly commodities for the good of the company, developed nations and the host countries that will accept and process this valuable waste stream. Using the blockchain to manage and load balance the network, we improve transparency, efficiency and operational costs, driving down the cost of processing and further increasing our profitability.”
The Company is in discussions with host countries on several continents and, by year end, expects to announce deals to host the waste stream, secure feedstock agreements and begin processing the plastic.
The global landscape for disposal of waste plastic is changing rapidly and at the highest scale. For example:
- 8.3 billion tons of plastic waste in the natural world (and growing)
- Less than 9% of all plastic is ever recycled globally
- 2017 – China’s 2017 National Sword drastically limits developed countries options for disposal
- 2020 – Basel Convention amended to regulate plastic waste exports
- 2021 – Turkey restricts plastic waste imports
The patent application states: The PCN network is designed to be implemented on a software-controlled blockchain network that manages the sourcing, distribution, storage and processing of waste plastic from developed nations to a network of host countries according to proximity, load balance and capacity of the network’s processing capability.
- The method’s blockchain architecture collects data on its network’s inputs to determine most-efficient processing capabilities. The public nature of the blockchain ensures transparency and traceability among all members of the network.
- Sourcing, storing and converting the plastic waste of developed nations will produce environmentally friendly commodities and clean fuels; reduce waste deposited into landfills; reduce incineration; mitigate the use of fossil fuel products; and assist developing nations in establishing waste recycling and development of collection infrastructure. The PCN uses innovative waste-remediation technologies (pyrolysis) at scale to create viable jobs, protect the environment and reduce the use of fossil fuels.
- The PCN is designed to output environmental commodities such as char, clean fuels, oils, syngas and hydrogen.
- The PCN manages: aggregation of plastic waste from developed nations; routing of the source plastic through its PCN Global Gateway; and the supplying of the source plastic to the network’s host nations that, in conformance with the Basel Convention, distribute the waste to a network of manufacturing facilities that can store and convert the plastic into environmentally friendly commodities.
- The network will also make available carbon credits and plastic credits for third-party purchase based on processing of the waste plastic.
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. To view CEO Dan Bates’ July 21 investor presentation delivered at the Emerging Growth Conference, click on: https://youtu.be/Iywz3YnCRdg. For more information, visit: cleanvisioncorp.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.