Despite being a recent entrant in the clean energy and waste-to-value industries, Clean Vision’s subsidiary Clean-Seas received a Second Party Opinion (SPO) in January 2024 from International Shareholder Services (ISS), recognizing it as an investment opportunity that aligns with Environmental, Social, and Governance (ESG) principles. Additionally, the Company's operations advance five of the UN's Sustainable Development Goals. 

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In 2023, Clean-Seas engaged Grant Thornton International, a renowned global advisory firm, for the issuance of up to $340 million in the form of notes (the "green bonds"). The green bonds will be issued as bearer bonds under German law and in accordance with the EU-Green Bond Standard in connection with the action plan of the European Commission on financing sustainable growth and as contemplated by the Technical Expert Group on Sustainable Finance (TEG) and proposed to the European Commission in its Interim Report on a "Proposal for an EU Green Bond Standard." In January 2024, the Company received a Second Party Opinion from International Shareholder Services validating that the green bond offering meets the ESG standards to qualify as a green investment.

 

The Company will use the proceeds of the bonds to identify plastic waste stream challenges with community stakeholders from government, business, and non-governmental organizations, and then design, fund, and implement innovative technology solutions. The strategy is to focus on waste-to-energy projects in locations with a close proximity to plastic waste and with municipalities focused on generating clean energy projects. Based on this strategy, the Company is currently focused on waste-to-energy projects in the USA (West Virginia and Arizona), Morocco, and Georgia. 

 

With the net proceeds of the green bond, the Company expects to accelerate and expand its PCN by deploying plastic conversion facilities across multiple regions, worldwide.