Clean Vision Corporation (OTC PINK:CLNV), a holding company that acquires and operates sustainable clean tech and green energy businesses, today announced that its Clean-Seas subsidiary has expanded its portfolio of Ecuadorian cities intent on using the Company’s waste plastic-to-energy pyrolysis technology.
The Mayor of Milagro, Francisco Asan Wonsang, of the province of Guayas, Ecuador has signed a Letter of Intent with Clean-Seas to establish a public-private joint venture partnership in which Clean-Seas will deploy a waste plastic-to-energy processing plant. This LOI follows a similar one signed with the Mayor of Naranjal, Ecuador that the Company announced last week.
Milagro, like many cities throughout Latin American is faced with a waste crisis, as landfills are reaching capacity. This LOI signed July 9, is designed to relieve the pressure on the city’s existing infrastructure and handle the Municipal Solid Waste (MSW) stream in an environmentally responsible way. Milagro currently collects as much as 200 metric tons of MSW daily. Guaranteed access to this consistent supply of feedstock provides a solid operational foundation for Clean-Seas to attract domestic and foreign financing for the project. The facility in Milagro is expected to generate revenue of approximately $13.5 million annually providing a project payback period of less than three years.
In developing tens of millions of dollars of prospective business in Ecuador, Clean-Seas has partnered with EcoLibrium (formerly EcoVerde) for this project and others throughout the country. Gustavo Santana, CEO of EcoLibrium, stated, “In working with Clean-Seas we have developed a win-win scenario for Ecuador and its people, as well as for our investors. Projects such as this one in Milagro will provide valuable data and an attractive ROI for proving our model in Latin America as we continue to expand our footprint throughout the region.”
Dan Bates, Clean Vision Chief Executive Officer, said, “EcoLibrium has opened doors that could have taken us years to get through on our own, fast-tracking our efforts to expand into the lucrative Latin American market. Mr. Santiago’s vision for a cleaner and more environmentally conscious Ecuador are perfectly aligned with that of Clean Vision’s. His relationships, at the highest levels of government and banking, make this an exciting business opportunity for our companies.”
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. In addition, the facility will provide approximately 100 high-paying, green jobs for the local economy.
The Company expects additional Latin American cities to embrace this model and to enter similar agreements in the weeks and months ahead.
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.
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.