Clean Vision’s Clean-Seas Adds Third City to its Ecuador Portfolio; Santa Elena Rounds Out $100M Project Opportunity

Rhea-AI Summary

Clean Vision Corporation (OTC PINK:CLNV) announced an agreement with Santa Elena, Ecuador, to deploy its Clean-Seas pyrolysis technology. This adds Santa Elena to its project portfolio, now totaling three cities in Ecuador. The partnership aims to address the region's waste crisis by establishing a waste plastic-to-energy processing plant capable of handling 200 tons of municipal solid waste daily, generating approximately $13.5 million annually. The project’s capital expenditure is estimated at $100 million, with a payback period of fewer than three years.

Positive

• New agreement with Santa Elena expands Clean-Seas' project portfolio to three cities, enhancing market presence.
• Projected annual revenue of approximately $13.5 million from the Santa Elena facility.
• The project is estimated at $100 million in capital expenditures, indicating significant investment potential.
• Creates high-paying green jobs, boosting the local economy.

Negative

• Santa Elena is facing a waste crisis due to landfill capacity issues, indicating potential operational challenges.
• Dependence on rapid municipal infrastructure development to meet waste management needs.

LOS ANGELES, CA / ACCESSWIRE / July 27, 2021 / 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 cities that will use the Company's technology to include the city of Santa Elena, Ecuador.

This new agreement signed with Santa Elena, along with recently announced agreements with the cities of Naranjal and Milagro, brings to three the number of cities in Ecuador that have committed to long term Municipal Solid Waste (MSW) feedstock agreements to support deploying Clean-Seas' pyrolysis technology.

Santa Elena, in the Province of Santa Elena, sits on the coast of the Bay of Santa Elena, attracting approximately 2.5 million tourists per year in large part for its pristine coastal environment. The City's Mayor, Otto Vera Palacios, has signed a Letter of Intent with Clean-Seas to establish a public-private joint venture partnership in which Clean-Seas will deploy a pyrolysis waste plastic-to-energy processing plant.

Santa Elena has a population of more than 500,000 and accepts MSW from eight surrounding cities. Like many cities in Ecuador and throughout Latin American, Santa Elena is faced with a waste crisis, as landfills are reaching capacity. The Ecuadorean Minister of the Environment, Gustavo Manrique, just informed Mayor Palacios that he must quickly develop a new landfill because their current capacity is full. The LOI, signed on July 14, is designed to relieve the pressure on the existing infrastructure and handle the MSW in an environmentally -- as well as financially -- responsible way.

Commenting on the third Ecuadorean city agreement just this month, Dan Bates, Clean Vision Chief Executive Officer, said, "This is an exciting milestone for Clean-Seas as it brings its project value to approximately $100 million in total capital expenditures, with a compelling ROI to attract project financing, as well as diversifying the project portfolio over the multiple locations and jurisdictions."

Clean-Seas has partnered with Ecuador-based EcoLibrium S.A. for all of its projects in Ecuador. "Ecuador is one of the most dynamic economies in the region," said Reinaldo Dos Santos, a Partner at EcoLibrium S.A. “According to various studies, it is one of the three best places to live and invest in Latin America.”

Mr. Bates, added, "EcoLibrium is the kind of partner that any company pursuing aggressive expansion into a new market dreams about. It brings the partnership deep relationships developed over decades which is vital to doing business as a newcomer to Ecuador."

Upon commissioning, which the Company expects in 2022, the Santa Elena facility will start processing 200 tons of MSW per day with the ability to expand to meet the region's growing needs. The expected revenue generation from a two-line facility, through Clean-Seas' recently announced JV partnership with GGII, is approximately $13.5 million annually providing a project payback period of less than three years. 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. In addition, the facility will provide high paying, green jobs for the local economy.

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. For more information, visit: clean-seas.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.

Contact
Clean Vision Corporation
Dan Bates, CEO
d.bates@cleanvisioncorp.com

Investors:
Frank Benedetto 619-915-9422
Twitter: @CleanVisionCorp

SOURCE: Clean Vision Corporation

View source version on accesswire.com:
https://www.accesswire.com/657148/Clean-Visions-Clean-Seas-Adds-Third-City-to-its-Ecuador-Portfolio-Santa-Elena-Rounds-Out-100M-Project-Opportunity

FAQ

What is the recent development for Clean Vision Corporation (CLNV) in Ecuador?

Clean Vision announced an agreement with Santa Elena to deploy its Clean-Seas pyrolysis technology, expanding its project portfolio.

What is the expected revenue from the Santa Elena facility for Clean Vision Corporation?

The expected revenue from the Santa Elena facility is approximately $13.5 million annually.

How much is the total capital expenditure for Clean Vision's projects in Ecuador?

The total capital expenditure for Clean Vision's projects in Ecuador is estimated at $100 million.

What challenges is Santa Elena facing regarding waste management?

Santa Elena is facing a waste crisis, with current landfills reaching capacity and urgent need for new infrastructure.

What benefits will the Santa Elena project provide to the local economy?

The project is expected to create high-paying green jobs, benefiting the local economy.