Clean Vision’s Clean-Seas Acquires Pyrolysis Plant for Deployment in India; Activates Previously Announced MOU with India’s IICT in the World’s Second Largest Renewable Energy Market
Clean Vision Corporation (OTC: CLNV) announced the acquisition of a 2.5 ton per day pyrolysis plant for shipment to Hyderabad, India, through its subsidiary Clean-Seas. This initiative aligns with a recently signed MOU with CSIR-IICT to implement waste plastic-to-energy conversion technology. The project aims to support India’s renewable energy goals amidst rising waste challenges. CEO Dan Bates highlighted the pilot project's potential to showcase the technology's economic viability, while Clean-Seas intends to announce further details on its waste plastic-to-hydrogen conversion technology within 30 days.
- Acquisition of a 2.5 ton per day pyrolysis plant strengthens Clean-Seas' operations in India.
- Collaboration with CSIR-IICT enhances credibility and potential market access in India.
- Project aligns with India’s $1 trillion renewable energy infrastructure plan, expanding Clean Vision's market opportunities.
- The pilot plant size may limit immediate commercial scalability.
- Dependency on Indian government support for technology adoption poses risks.
LOS ANGELES, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Clean Vision Corporation (OTC: CLNV), a global holding company that acquires and operates sustainable clean tech and green energy businesses, today announced that its Clean-Seas subsidiary has purchased a 2.5 ton per-day pyrolysis plant for shipment to Hyderabad, India.
The Company’s major capital expenditure solidifies its previously announced Memorandum of Understanding (MOU) signed last month with the Council of Scientific and Industrial Research (CSIR)-Indian Institute of Chemical Technology (IICT). That MOU provides for both parties agreeing to work together to bring Clean-Seas’ waste plastic-to-energy conversion technology to India to help mitigate its growing waste streams and provide clean energy as a part of the
“Our purchase of this pyrolysis plant is an historic and pivotal event for Clean Vision and our Clean-Seas subsidiary,” said Dan Bates, Clean Vision Chief Executive Officer. “This pilot project is designed to showcase our technology directly for the Indian government which is making a huge push to create a greener, cleaner economy. IICT is an extraordinary partner with the resources and reach to massively scale up our joint initiative in the world’s second-most populous nation.
“While this plant is pilot sized, the technology is fully capable of operating at commercial scale. The goal of the project is to prove the economics of our waste-plastic conversion solution,” he added. “I am confident that with the enormous volume of feedstock available, the financial return will clearly serve to accelerate development and deployment of additional plants throughout the Indian marketplace.”
“The future is here now,” stated Venkat Kumar Tangirala, Managing Director, Clean-Seas India (C-SI) -- Clean-Seas’ India-based operating subsidiary. “Converting waste-plastic into valuable commodities, with positive financial returns, is vital for the reduction of waste plastic globally. Clean-Seas is confident we have the technology, knowhow, and team to revolutionize the conversion of mixed waste-plastic into hydrogen and to store it cost effectively. Within 30 days, we expect to announce further details of our waste plastic-to-hydrogen conversion technology and an overview of the current and projected global hydrogen economy.”
The C-SI owned pyrolysis plant will be shipped to India for expected delivery and installation in February. The pyrolysis plant will be installed with proprietary technology to upgrade its ability to efficiently produce hydrogen as well as low-sulfur diesel fuel. Experts in the clean tech industry expect hydrogen will be the ultimate, clean fuel of the future.
About Clean-Seas, Inc.
Clean-Seas, Inc. is a wholly owned subsidiary of Clean Vision. It 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. Clean-Seas 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.
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 CSIR-IICT
CSIR-IICT is one of India’s premier Research and Development institutions which focuses on the development of advanced, sustainable and affordable technologies in chemical sciences and technology for the improvement of human welfare and is geared to meet the requirement of transfer of technology, commercialization and scalability.
About IICT
CSIR-Indian Institute of Chemical Technology (CSIR-IICT), Hyderabad was established in 1944, as a constituent laboratory of Council of Scientific and Industrial Research (CSIR), Government of India. Since its inception, CSIR-IICT focused on the development of advanced, sustainable and affordable technologies. It is internationally recognized for its contributions to chemistry & chemical technology and is an ideal place for taking ideas to commercialization through state-of-the-art research and development.
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
FAQ
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