CLNV - 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 the addition of Santa Elena, Ecuador, to its Clean-Seas subsidiary's portfolio of cities utilizing its pyrolysis technology for waste management. This agreement follows similar partnerships with Naranjal and Milagro, elevating the total to three cities in Ecuador. The project, valued at approximately $100 million, aims to process 200 tons of Municipal Solid Waste (MSW) daily, generating around $13.5 million in annual revenue. This initiative addresses the waste crisis in Santa Elena and promises environmental and economic benefits.

Positive

• Partnership with Santa Elena enhances Clean-Seas' project portfolio to three cities in Ecuador.
• Projected project value estimated at approximately $100 million, indicating robust investment potential.
• Expected annual revenue generation of about $13.5 million from the Santa Elena facility.
• Facility projected to create high-paying green jobs within the local economy.

Negative

• None.

LOS ANGELES, July 27, 2021 /PRNewswire/ -- 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 + 1 619-915-9422

Twitter: @CleanVisionCorp

 

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SOURCE Clean Vision Corporation

FAQ

What recent agreement did Clean Vision Corporation announce regarding their Clean-Seas subsidiary?

Clean Vision Corporation announced a new agreement with Santa Elena, Ecuador, expanding Clean-Seas' portfolio to three cities utilizing pyrolysis technology for waste management.

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

The new facility in Santa Elena is expected to generate approximately $13.5 million annually.

How much is the total project value for Clean-Seas in Ecuador?

The total project value for Clean-Seas in Ecuador is estimated at approximately $100 million.

What is the capacity of the Santa Elena facility being developed by Clean-Seas?

The Santa Elena facility will process 200 tons of Municipal Solid Waste (MSW) per day.

What type of waste management technology is Clean-Seas deploying in Ecuador?

Clean-Seas is deploying pyrolysis technology for waste plastic-to-energy processing in Ecuador.