LOS ANGELES, CA / ACCESSWIRE / June 12, 2023 / Clean Vision Corporation (OTCQB:CLNV), today announced that its wholly owned subsidiary, Clean-Seas, Inc. ("C-S"), has signed a joint venture agreement with the Rob & Melani Walton Sustainability Solutions Service, ("WS3"), which is headquartered at and affiliated with Arizona State University in the Phoenix suburb of Tempe, Arizona.
The new agreement advances the terms of the 2022 MOU, previously announced on November 4, 2022, which outlined terms leading to today's definitive agreement for the design, development and operation of a plastic waste conversion and circular economy project in the Phoenix area. Under the terms of the agreement, C-S has formed Clean-Seas Arizona ("CSA") to develop and advance the project.
The new agreement's initial phase is for establishing a 100-TPD facility converting post-consumer plastic feedstock. C-S and WS3 have further stipulated that it is in their interest to scale the facility up to 500 TPD, securing feedstock from other locations, further mitigating the waste-plastic crisis in the Western US. CSA's and WS3's objective is to source waste-plastic feedstock from the Phoenix metro area and adjacent municipalities, innovating and creating a facility that serves as an anchor for a network of clean-hydrogen (AquaH™) hubs located in various locations across the globe. The ultimate goal is to divert many thousands of tons of waste-plastic per day from landfills, oceans and incinerators to its facilities for conversion into valuable clean-energy commodities.
Under the terms of the services agreement, both entities shall co-manage the project. CSA estimates that the capital expenditure cost of the project will be $50 million or more. The terms provide that:
Contribute management oversight during construction and on-going operations, vendor management, EPC management, financial oversight and secure off-take agreements for output products.
Use, on a best-efforts basis, its relationships with the financial community to obtain the necessary funding to stand up a facility of 100 TPD
Grant CSA a non-exclusive, non-assignable, royalty-free license to utilize and otherwise exploit all of C-S' intellectual property for the duration of the term
Contribute technical services to CSA
Use all commercially reasonable efforts to expediently assist CSA in obtaining requisite authorizations, including licenses and permits as required by local and federal authorities, in CSA's name
Assist in securing the required parcel of land to support the project
Contribute any and all required infrastructure as needed to support its contributions
Contribute detailed business, financial and environmental models for the operation of the CSA's technology units in Arizona
This new agreement follows C-S's announcement in April 2023 that it had signed a definitive agreement to purchase majority control of Ecosynergie Group in Morocco and build a 120-TPD pyrolysis waste plastic-to-energy facility for operation, rapidly scaling up in the second and third quarters of this year - building upon the initial 2022 MOU between those two parties. Dan Bates, Clean Vision CEO, said, "We're delighted to embark on this new agreement with the Walton Sustainability Solutions Service and ASU, whose facility and principals have a strong track record of success, and are leaders in the drive to create lasting, innovative sustainability solutions. CSA is an exciting opportunity to create a lasting legacy for improving the near and long-term health of our planet.
"For Clean-Seas," Mr. Bates added, "2022 was all about identifying, and building relationships with excellent partners and signing LOIs and MOUs to establish a solid foundation with which to scale our PCN operations and growth. While we are always working on new business development, 2023 will be all about converting those preliminary agreements into definitive efforts to build out operating facilities beginning with the most timely and opportune projects."
Currently, CSA anticipates its facility will be able to divert more than 850,000 tons of waste-plastic over its 25-year life span, advancing the City of Phoenix's 2050 goals for Zero Waste, and delivering municipality wide carbon neutrality. Arizona is one of the 20 US states recognizing advanced recycling as a manufacturing technology; passing legislation in 2021 that is expected by ASU to unlock more than $160 million in recycling-related annual economic activity.
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.
About The Rob and Melani Walton Sustainability Solutions Service (WS3)
The Sustainability Solutions Service is an evolution of one of the original initiative programs to be housed within ASU Knowledge Enterprise Development. This sustainability consultancy, a progression of the traditional cooperative extension service model, will co-create solutions-based projects with faculty, students and external partners such as the city of Phoenix, international aid organizations and established and emerging businesses.
ASU-based WS3 empowers businesses, governments and NGOs to drive impactful change through actionable knowledge and innovation. It convenes more than 720 transdisciplinary researchers, faculty and innovative global partners to solve for these complex and urgent issues. It convenes this knowledge network to understand what is possible and develop actionable strategies, transformative pilot programs and scalable systems that solve some of the most audacious and complex sustainability challenges.
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Clean Vision Corporation
Dan Bates, CEO
Investors Frank Benedetto 619-915-9422 SOURCE: Clean Vision Corporation View source version on accesswire.com: https://www.accesswire.com/760419/Clean-Visions-Clean-Seas-Signs-Services-Agreement-with-ASUs-Walton-Sustainability-Solutions-Service-The-Agreement-Defines-Mutual-Roles-for-a-50M-Waste-Plastic-to-Green-Hydrogen-Facility