- Dan Bates
Clean Vision Announces Fully Executed Agreements Pursuant to $20M Michigan Pyrolysis Joint Venture
LOS ANGELES, CA / ACCESSWIRE / April 11, 2023 / Clean Vision Corporation (OTCQB:CLNV) ("Clean Vision" or the "Company"), an emerging leader in the sustainable clean technology and green energy sectors, is excited to announce that its wholly owned subsidiary, Clean-Seas, Inc. ("Clean-Seas"), has entered into feedstock and site lease agreements (the "Agreements") pursuant to its previously announced $20 million joint venture project in Western Michigan in partnership with the NuWay Go Recycle Center LLC ("NWG") owned by American Classic (www.americanclassic.us), creating Clean-Seas Newaygo ("CSN").
CSN expects to eventually divert up to 500 tons per day of waste plastic from landfill and/or incineration. Phase I of the project is currently budgeted at $20 million with currently anticipated funding from debt and equity.
"Co-locating a Clean-Seas Plastic Conversion Network (PCH) facility with partners who are already sorting plastics adds great value to both operations," said Chris Galazzi, CSN's president. "The synergies here are potent-It's a win for both partners, the local economy, and the environment."
These Agreements come in the wake of Michigan's December 23rd recognition of pyrolysis as an approved manufacturing process, creating a clear permitting pathway for the project.
Headquartered in Newaygo County, NWG is a new venture of American Classic, a fixture in Western Michigan construction, building supply, and commercial and residential waste management since 2001. American Classic's 2022 acquisition of Cart-Right Recycling deepened their united commitment to responsible, innovative waste handling throughout Michigan, and ensured a consistent supply of plastic feedstock to the CSN facility.
In December 2022, the Newaygo City Council and Newaygo Planning Commission each approved plans to develop the CSN facility, which will divert post-industrial and post-consumer waste plastic from landfill and incineration and convert it through pyrolysis into precursors for new plastics, ultra-low sulfur fuels and oils, and Clean-Seas' branded hydrogen, AquaH™.
Under the terms of the joint venture agreement, CSN will co-locate at American Classic's recently acquired 313 W. State Road facility in the City of Newaygo. American Classic has committed to supplying the necessary feedstock for CSN operations. The parties will work collectively to secure additional permits and approvals. Clean-Seas will use its relationships and expertise to secure capital and technology to establish the facility, which is expected to begin operations in late 2023 or early 2024.
Once established, operations are expected to begin in American Classic's 45,000 sq. ft. facility, which sits adjacent to a rail line for easy off-loading of waste plastic and pickup of CSN converted commodity products. In addition to anticipated debt and equity funding for the project, additional sources of funding may include Michigan State incentives and grants which are available through the Biden Administration's Inflation Reduction Act (IRA).
These Agreements mark the next milestones for the joint venture project announced Jan. 17, and follow partner American Classics announcement last month of a $2 million Material Recovery Facility ("MRF") at the same site, only the second MRF in the Greater Western Michigan region.
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, Inc. is a wholly owned subsidiary of Clean Vision. It is working to provide efficient and cost-effective technology solutions that address locally the global waste plastic crisis as creating economic opportunity and social benefit across the world. Clean-Seas plans to work towards offering "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.
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Contact Clean Vision Corporation Dan Bates, CEO email@example.com
Investors Frank Benedetto 619-915-9422
Media/Public Relations Phoenix Media & Marketing firstname.lastname@example.org
SOURCE: Clean Vision Corporation
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