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Clean Vision Corporation (CLNV) is a pioneer in sustainable clean technology and green energy sectors, recently acquiring a trademark for its branded clean hydrogen, AquaH®. The company utilizes innovative technology to produce hydrogen from waste plastic, aligning with its environmental commitment. Clean Vision is dedicated to combating plastic pollution through its subsidiary, Clean-Seas, Inc., focusing on establishing plastic waste conversion facilities globally. The company is at the forefront of the hydrogen economy, producing green hydrogen for a variety of applications in a rapidly growing market. Clean Vision aims to lead the transition to sustainable energy solutions, spearheading the clean hydrogen revolution with its AquaH® trademark.
Clean Vision 's subsidiary, Clean-Seas West Virginia, has signed an EPC agreement with UPS Industrial Services for a plastic conversion facility in Quincy, West Virginia. The project, set to start in Q4 2024 and be fully operational by August 2025, will convert plastic waste into clean fuels through pyrolysis. This facility is part of Clean Vision's expanding Plastic Conversion Network (PCN), which includes projects in India and Morocco.
The global plastic pyrolysis market is projected to reach $2.7 billion by 2030, growing at a CAGR of 26.1% from 2024 to 2030. The West Virginia facility, supported by multiple state agencies, aims to address the plastic waste crisis and contribute to economic growth. Project financing is planned to be led by a regional bank, with completion expected in October 2024.
Clean Vision (OTCQB:CLNV) has secured an amended $15 million loan guarantee from the West Virginia Economic Development Authority (WVEDA) for its plastic conversion project in Quincy, West Virginia. The funds will be used for critical aspects of the recycling and processing facility operated by Clean-Seas West Virginia, Inc. The project aims to convert plastic feedstock into clean, plastic pyrolysis oil for new, circular plastic products.
Key points:
- Project operations expected to commence in mid-2025
- 10-year, $15 million note at 7% interest upon technology commissioning
- Pyrolysis oil to be supplied to a major U.S. based Oil and Gas distributor
- Project aligns with Clean Vision's commitment to divert plastic from landfills and incineration
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