Clean Vision's Clean-Seas Launches PCN With First "Host" Country Cameroon; PCN to Revolutionize Multi-Billion Dollar Waste-Plastic Recycling Industry

Rhea-AI Summary

Clean Vision Corporation (CLNV) has announced a pivotal partnership through its subsidiary Clean-Seas, signing a Memorandum of Understanding (MOU) with IKYAYO Investment Holdings in Cameroon. This agreement positions Cameroon as the inaugural host nation for the Plastic Conversion Network (PCN), aimed at converting waste plastics into valuable energy and commodities using pyrolysis technology. The MOU outlines essential support such as land, utilities, tax incentives, and labor training necessary for establishing conversion facilities, marking a significant step toward addressing global plastic waste issues.

Positive

• Secured a binding MOU with IKYAYO Investment Holdings for the establishment of the PCN in Cameroon.
• Cameroon will be the first host nation for Clean-Seas, promoting sustainable waste-plastic conversion.
• MOU includes essential provisions like land access, utilities, and tax holidays to support project execution.
• Potential for additional host nations as the company seeks to expand its PCN operations.

Negative

• None.

LOS ANGELES, CA / ACCESSWIRE / October 14, 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 signed a binding Memorandum of Understanding (MOU) with IKYAYO Investment Holdings a civil equipment and infrastructure investment development company in the Republic of Cameroon, the Cemac and Ecowas zone of countries.

With the execution of this MOU, Cameroon will become the first host nation within the Clean-Seas global Plastic Conversion Network (PCN) which intends to aggregate the developed world's waste-plastic stockpiles and convert it using pyrolysis technology plants - into high-value, environmentally friendly energy and commodities. Using the Company's proprietary technology, waste-plastic can now be collected, transported and converted in a transparent manner giving rise to a new level of environmental accountability.

Cameroon is located at the junction of western and central Africa. Its population of over 25 million is one of the most urban populations in western Africa. The MOU was executed during Clean Vision Chief Executive Officer Dan Bates' trip this month through the mid-east and southeast Asia to personally negotiate and sign agreements to begin building out the Clean-Seas PCN.

Commenting on the landmark MOU, Clean Vision Chief Executive Officer Dan Bates said,

1. "The planet is awash in waste plastic most of which is generated by developed nations. Recent geopolitical changes mean they can no longer pay to ship it to be dumped into undeveloped countries' landfills, rivers or incinerated.
2. Less developed nations have the room and labor for waste-plastic pyrolysis conversion plants to be built and maintained. They want the jobs and to share in the revenue from commodities these plants produce.

"We unveiled the PCN six weeks ago, and already we have our first deal in place with numerous ongoing discussions for additional Host countries underway. Securing the first deal is always the hardest and, now that we have, we expect other countries to follow suit quickly.

"ESG and underdeveloped Africa investing is driving massive new capital investment from China, Europe, Middle East and the US so project financing should be readily available," Mr. Bates continued. "Along with securing additional nations' and cities' commitments to host our PCN, our next steps are negotiating definitive agreements, and then obtaining regulatory permits which tend to be expedited in much of Africa and Latin America where we have other deals in process. All of which will take us into 2022 which I expect will prove an extremely exciting year."

The primary MOU deal points are:

• Land for the storage and conversion of the waste plastic
• Access to all necessary utilities to run the conversion facilities
• A tax holiday for Clean-Seas as permitted within the tax laws of each country, based on the direct foreign investment amount for each project and government approval.
• Access to local (deep-water) port for the offloading of waste-plastic
• Access to waste-plastic feedstock from neighboring countries
• Local content participation and training
• In-country availability of Clean, low-sulphur fuels produced from the processing facility at a competitive rate.
• Local labor training

IKYAYO's management wrote, "Cameroon, the CEMAC and ECOWAS Zone of countries have waste plastic problems and establishing a means of recycling this waste into environmentally friendly products is in alignment with government's initiatives. We look forward to become a valuable addition to the PCN and are eager to get started as soon as possible."

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. To view CEO Dan Bates' July 21 investor presentation delivered at the Emerging Growth Conference, click on: https://youtu.be/Iywz3YnCRdg. 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/668161/Clean-Visions-Clean-Seas-Launches-PCN-With-First-Host-Country-Cameroon-PCN-to-Revolutionize-Multi-Billion-Dollar-Waste-Plastic-Recycling-Industry

FAQ

What is the significance of the MOU signed by Clean Vision Corporation and IKYAYO in Cameroon?

The MOU establishes Cameroon as the first host country for Clean Vision's Plastic Conversion Network, focusing on converting waste plastics into valuable commodities.

What technology will Clean-Seas use in Cameroon to manage waste plastic?

Clean-Seas will utilize pyrolysis technology to convert waste plastic into environmentally friendly energy and commodities.

What are the key provisions of the MOU between Clean Vision and IKYAYO?

The MOU includes land access, necessary utilities for operations, a tax holiday, and local labor training for the waste conversion project.

How many people live in Cameroon, where Clean Vision's waste plastic project will be launched?

Cameroon has a population of over 25 million people, making it one of the most urbanized countries in western Africa.

What are the future steps for Clean Vision after signing the MOU in Cameroon?

Clean Vision plans to negotiate definitive agreements and obtain regulatory permits to commence operations and expand its Plastic Conversion Network.