Clean Vision Corporation Signs EPC Agreement with UPS Industrial Services for West Virginia Facility
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.
La sussidiaria di Clean Vision, Clean-Seas West Virginia, ha firmato un accordo EPC con UPS Industrial Services per una struttura di conversione della plastica a Quincy, West Virginia. Il progetto, che inizierà nel Q4 2024 e sarà completamente operativo entro agosto 2025, convertirà i rifiuti plastici in combustibili puliti attraverso la pirolisi. Questa struttura fa parte della crescente Rete di Conversione della Plastica (PCN) di Clean Vision, che include progetti in India e Marocco.
Si prevede che il mercato globale della pirolisi della plastica raggiunga $2,7 miliardi entro il 2030, con una crescita annuale composta (CAGR) del 26,1% dal 2024 al 2030. La struttura in West Virginia, supportata da più agenzie statali, mira ad affrontare la crisi dei rifiuti plastici e a contribuire alla crescita economica. Il finanziamento del progetto sarà guidato da una banca regionale, con completamento previsto per ottobre 2024.
La subsidiaria de Clean Vision, Clean-Seas West Virginia, ha firmado un acuerdo EPC con UPS Industrial Services para una instalación de conversión de plástico en Quincy, West Virginia. El proyecto, que comenzará en el cuarto trimestre de 2024 y estará completamente operativo para agosto de 2025, convertirá residuos plásticos en combustibles limpios a través de pirolisis. Esta instalación es parte de la creciente Red de Conversión de Plástico (PCN) de Clean Vision, que incluye proyectos en India y Marruecos.
Se prevé que el mercado global de pirolisis de plástico alcance $2.7 mil millones para 2030, con un crecimiento anual compuesto (CAGR) del 26.1% desde 2024 hasta 2030. La instalación en West Virginia, respaldada por múltiples agencias estatales, tiene como objetivo abordar la crisis de residuos plásticos y contribuir al crecimiento económico. Se planea que la financiación del proyecto sea liderada por un banco regional, con finalización prevista para octubre de 2024.
Clean Vision의 자회사인 Clean-Seas West Virginia가 UPS Industrial Services와 웨스트버지니아 퀸시의 플라스틱 전환 시설에 대한 EPC 계약을 체결했습니다. 이 프로젝트는 2024년 4분기에 시작되어 2025년 8월까지 완전히 운영될 예정이며, 플라스틱 폐기물을 열분해를 통해 청정 연료로 전환할 것입니다. 이 시설은 인도와 모로코의 프로젝트를 포함하는 Clean Vision의 확장 중인 플라스틱 전환 네트워크 (PCN)의 일환입니다.
세계 플라스틱 열분해 시장은 2030년까지 27억 달러에 이를 것으로 예상되며, 2024년부터 2030년까지 연평균 성장률(CAGR)이 26.1%에 이를 것으로 보입니다. 웨스트버지니아의 이 시설은 여러 주 정부 기관의 지원을 받아 플라스틱 폐기물 위기를 해결하고 경제 성장에 기여할 것을 목표로 하고 있습니다. 프로젝트 자금조달은 지역 은행이 주도할 예정이며, 완료는 2024년 10월로 예상됩니다.
La filiale de Clean Vision, Clean-Seas West Virginia, a signé un accord EPC avec UPS Industrial Services pour une installation de conversion de plastique à Quincy, en Virginie-Occidentale. Le projet, qui doit commencer au quatrième trimestre 2024 et être pleinement opérationnel d'ici août 2025, convertira les déchets plastiques en combustibles propres grâce à la pyrolyse. Cette installation fait partie du réseau de conversion de plastique (PCN) en expansion de Clean Vision, qui comprend des projets en Inde et au Maroc.
Le marché mondial de la pyrolyse des plastiques devrait atteindre 2,7 milliards de dollars d'ici 2030, avec un taux de croissance annuel composé (CAGR) de 26,1% entre 2024 et 2030. L'installation en Virginie-Occidentale, soutenue par plusieurs agences d'État, vise à répondre à la crise des déchets plastiques et à contribuer à la croissance économique. Le financement du projet devrait être dirigé par une banque régionale, avec une finalisation prévue en octobre 2024.
Die Tochtergesellschaft von Clean Vision, Clean-Seas West Virginia, hat einen EPC-Vertrag mit UPS Industrial Services für eine Kunststoffumwandlungsanlage in Quincy, West Virginia, unterzeichnet. Das Projekt, das im 4. Quartal 2024 beginnen soll und bis August 2025 voll betriebsbereit sein wird, wird Kunststoffabfälle durch Pyrolyse in saubere Brennstoffe umwandeln. Diese Anlage ist Teil des wachsenden Kunststoffumwandlungsnetzwerks (PCN) von Clean Vision, zu dem auch Projekte in Indien und Marokko gehören.
Der globale Markt für Kunststoffpyrolyse wird voraussichtlich 2,7 Milliarden Dollar bis 2030 erreichen und von 2024 bis 2030 mit einer jährlichen Wachstumsrate (CAGR) von 26,1% wachsen. Die Anlage in West Virginia, die von mehreren staatlichen Behörden unterstützt wird, zielt darauf ab, die Kunststoffabfallkrise anzugehen und zum Wirtschaftswachstum beizutragen. Die Projektfinanzierung wird voraussichtlich von einer Regionalbank geleitet, mit einem Abschluss, der im Oktober 2024 erwartet wird.
- Signing of EPC agreement for plastic conversion facility in West Virginia
- Projected global plastic pyrolysis market growth to $2.7 billion by 2030
- Support from multiple West Virginia state agencies
- Expansion of Plastic Conversion Network with projects in India and Morocco
- Planned project financing led by a regional bank
- Project commencement delayed until Q4 2024
- Full operations not expected until August 2025
LOS ANGELES, CA / ACCESSWIRE / September 23, 2024 / Clean Vision Corporation (OTCQB:CLNV) ("Clean Vision" or the "Company"), an emerging leader in innovative plastic recycling and clean fuel development, is proud to announce that its wholly owned subsidiary, Clean-Seas West Virginia, Inc. ("Clean-Seas West Virginia"), has signed an agreement with UPS Industrial Services, LLC ("UPSIS") for the engineering, procurement, and construction ("EPC") of its plastic conversion facility in Quincy, West Virginia. The project is scheduled to commence in the fourth quarter of 2024, with full operations expected by August 2025.
This innovative facility, designed to convert plastic feedstock into clean fuels through the process of pyrolysis, represents what we believe is a significant step towards addressing the global plastic waste crisis. Supported by the multiple agencies within the West Virginia State Government, including the Department of Economic Development and the Economic Development Authority, this project underscores West Virginia's commitment to sustainable innovation and economic growth.
Clean-Seas West Virginia's facility is expected to draw in plastic feedstock from across the Mid-Atlantic region and convert what might otherwise end up in landfills, incineration or our oceans into valuable, clean fuels. This facility is part of the Company's expanding Plastic Conversion Network ("PCN") portfolio of global plastic conversion projects, which includes current initiatives in India and Morocco.
According to industry Grand View Research, the global plastic pyrolysis market is projected to reach
"We are thrilled to partner with UPSIS, a leader in EPC services, to help bring our first US- based project to life," said Dan Bates, CEO of Clean Vision Corporation. "USPSIS' expertise and commitment to quality make them the ideal partner to help us achieve our goal of launching the West Virginia facility and developing our PCN into a global source for clean fuels and environmental responsibility."
Lonnie Jackson, Senior Project Director, echoed the sentiment, "UPSIS is proud to be part of this groundbreaking project with Clean-Seas West Virginia. This facility is a testament to the innovative solutions required to tackle the world's plastic pollution problem, and we are committed to delivering a project that meets the highest standards of safety and operational excellence."
As part of the EPC agreement, UPSIS will oversee the engineering and construction of the West Virginia facility located in Quincy, West Virginia, as well as obtain a Performance & Payment bond, aimed at ensuring the project's successful delivery. Current plans are for project financing to be led by a regional bank dedicated to supporting projects focused on the economic growth of West Virginia and sustainable development. We are currently planning for this a financing to be completed in October 2024, with groundbreaking for the facility upgrade shortly thereafter.
About Clean Vision Corporation:
Clean Vision is a public company that operates in the sustainable clean technology and green energy sectors. For more information, visit: www.cleanvisioncorp.com and follow us on Twitter, X: @CleanVisionCorp
About Clean-Seas, Inc.:
Clean-Seas, Inc., a wholly owned subsidiary of Clean Vision, is working to provide efficient and cost-effective technology solutions that address the global plastic crisis as creating economic opportunity and social benefit across the world. Clean-Seas' goal is to offer "best in class" pyrolysis technology deployment with strategic alliances for plastic diversion and conversion, including securing plastic feedstock and off-take agreements. For more information, visit: www.clean-seas.com.
About UPS Industrial Services:
UPS Industrial Services, LLC is a premier provider of engineering, procurement, and construction services, renowned for delivering high-quality, cost-effective solutions for industrial projects globally. With a strong commitment to safety and excellence, UPSIS is a trusted partner for complex, large-scale initiatives. For more information, visit: www.upsindustrial.com.
Cautionary Note Regarding Forward-Looking Statements:
This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and may contain projections of our future results of operations or of our financial information or state other forward-looking information. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, our ability to raise the capital needed to successfully complete the construction and launch of our facility in Quincy, West Virginia, which a successful closing cannot be guaranteed; statements regarding the expected amount of proceeds raised, and use of such proceeds; our ability to expand the PCN and establish plastic conversion facilities in various regions throughout the world; our ability to successfully identify and implement contracts with parties required to supply plastic feedstock for our PCN facilities; the ability of our counterparties to complete their contractually required obligations in a timely manner, or at all, including, but not limited to, the obligations of UPSIS under the EPC Agreement related to the West Virginia facility; statements about our ability to deploy the PCN and plastic conversion facilities on a global scale; statements about our future financial performance, including our estimated revenue generation, cash flows, costs of revenue and operating expenses; our anticipated growth; our predictions about our industry; our estimates with respect to expanding and meeting our projections for our facilities and on currently anticipated timelines; our ability to secure feedstock and offtake agreements sufficient to meet anticipated growth, revenue generation and project processing capabilities; and the impact of local and global regulations and laws that could impact our plans to establish and expand our PCN and plastic conversion facilities. The forward-looking statements contained in this press release are also subject to other risks and uncertainties. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
Contact
Clean Vision Corporation
Dan Bates, CEO
d.bates@cleanvisioncorp.com
Investors
Frank Benedetto
619-915-9422
SOURCE: Clean Vision Corporation
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FAQ
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