|$CLNV 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|
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 $1 trillion renewable energy infrastructure plan already being implemented by the Indian government.
“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.