LOS ANGELES, CA / ACCESSWIRE / March 7, 2023 / Clean Vision Corporation (OTCQB:CLNV) ("Clean Vision" or the "Company"), an emerging leader in the sustainable clean technology and green energy sectors, announced today that the Morocco plant the Company is in the process of acquiring is now generating revenues following an initial commissioning stage, which involves equipment assessments, equipment upgrades, personnel vetting, and other steps.
As announced in the Company's press release dated January 23, 2023, its wholly owned subsidiary, Clean-Seas, Inc. ("Clean-Seas"), entered into a definitive agreement to acquire a 51 percent (51%) interest of Agadir, Morocco-based Ecosynergie Group ("Ecosynergie"), which owns and operates two pyrolysis conversion units ("PCUs") targeting the collection of mixed waste plastics sourced locally and from the European Union and the conversion of such into environmentally sustainable fuels.
"Right now, Ecosynergie is currently operating one of the two 10 ton-per-day ("TPD") PCU, which has only been running less than 10 days per month so far this year," stated Daniel Harris, Clean Vision CRO. "However, even the limited operation is more than enough to support our objectives post-acquisition given our strategy to scale operation in this Morocco plant."
In the near term, the Company expects that the Morocco plant will begin operating the second 10 TPD PCU. At that point, each of these PCUs is expected to produce monthly outputs exceeding what has been demonstrated so far in January and February this year.
The Company expects the Morocco plant to expand operations with an additional 50 TPD PCU by May 1, using pyrolysis technology manufactured in France. A second 50 TPD PCU is expected to begin operation in fall 2023, increasing total production at the Morocco plant to 120 TPD by the end of the year.
The management believes that the key milestone of Ecosynergie is a proof of concept and scalability of its Plastic Conversion Network ("PCN"), which the Company plans to scale. Following the closing of its acquisition, the Company also plans to upgrade the equipment at this Morocco plant to drive bottom-line value by reducing fixed cost investments over time through superior equipment quality.
Dan Bates, Clean Vision CEO added, "Based on what we have seen this year, our operational target is around $12 thousand in revenues per week, per PCU, provided each PCU is engaged 6 days per week. We also plan to begin operating the second PCU this month which should double the topline output and present annualized revenue of around $1.25 million with just these two units in operation. Adding the two 50 TPD PCUs and reaching 120 TPD, we anticipate our revenue to exceed $7.5 million annually. We believe that Clean-Seas is perfectly positioned to scale the PCN model and achieve our position as a leading waste plastic-to-clean fuels supplier."
The Company also notes that the demand for its products from refiners and producers appears to satisfy their desire for ultra-low sulphur fuels and precursors, which enable the Company's customers to achieve renewable fuel standards and incentives and provide an additional tailwind in the commercialization process.
About Clean Vision Corporation
Clean Vision Corporation operates and intends to acquire and operate a portfolio of synergistic companies in the sustainable clean technology and green energy sectors. For more information, visit: cleanvisioncorp.com and follow us on Twitter: @CleanVisionCorp.
About Clean-Seas, Inc.
Clean-Seas is a wholly owned subsidiary of Clean Vision. It is working to provide efficient and cost-effective technology solutions that address the global waste plastic crisis locally while creating economic opportunity and creating social benefit across the world. Clean-Seas plans to offer "best in class" pyrolysis technology deployment with strategic alliances for plastic diversion and conversion, including securing feedstock of plastic and off-take agreements. For more information, visit: clean-seas.com.
Cautionary Note Regarding Forward-Looking Statements
This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and may contain projections of our future results of operations or of our financial information or state other forward-looking information. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, statements about our potential acquisition; our ability to develop and complete development of certain technology; our ability to expand operation and operate our facilities; our future financial performance, including our revenue, cash flows, costs of revenue and operating expenses; our anticipated growth; our predictions about our industry; the impact of the COVID-19 pandemic on our business and our ability to attract, retain and cross-sell to clients. The forward-looking statements contained in this press release are also subject to other risks and uncertainties. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
Contact
Clean Vision Corporation
Dan Bates, CEO
d.bates@cleanvisioncorp.com
Investors
Frank Benedetto
619-915-9422
Media/Public Relations
Phoenix Media & Marketing
info@phoenix-mediamarketing.com
SOURCE: Clean Vision Corporation
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