LOS ANGELES, CA / ACCESSWIRE / April 4, 2022 / Clean Vision Corporation (OTCQB:CLNV) (the "Company"), today announced its wholly owned Clean-Seas, Inc. (C-S) subsidiary has signed a binding term sheet with ECOSYNERGIE (ESG), an Agadir, Morocco-based company in the waste plastic-to-energy pyrolysis conversion business, to develop a commercial scale waste plastic-to-energy pyrolysis plant to serve as a host facility for C-S' patent-pending Plastic Conversion Network (PCN). ESG owns two ten-ton per day (TPD) pyrolysis units.
The term sheet provides that the two companies will enter into a business relationship in which C-S will establish a new US company, Clean-Seas Morocco, LLC (CSM), which will then set up any corresponding business entities as needed within Morocco.
ECOSYNERGIE, which is the parent company of AQUA FLORE PROTECT, was established in 1999. The companies are focused on recycling of waste materials, covering the entire process from the collection and treatment of hazardous and non-hazardous waste and then transforming it into new raw materials or oil.
ECOSYNERGIE and its subsidiaries also have operations in the regions of Souss-Massa and Tangier.
Morocco is sensitive to climate change, and is a global leader addressing it proactively. The Climate Change Performance Index (CCPI) has acknowledged Morocco's climate-conscious commitments by ranking the country fifth worldwide in terms of efforts to combat climate change. Morocco is a signatory to the Climate Change Kyoto Protocol and Paris Agreement. Analysts estimate it generates 6.852 million tons of municipal solid waste (MSW) annually and recycles an estimated eight percent.
"When you look at a map and see the proximity of Morocco to the European Union, it immediately stands out to us as a perfect location for a PCN facility. As important as geography may be, establishing this partnership with ECOSYNERGIE should provide a solid foundation upon which we expect to produce great success," said Daniel Harris, Clean-Seas VP of Business Development.
The Term Sheet is intended to govern the relationship between the parties until such time that a formal definitive agreement may be put into effect. It provides:
Purchase and integrate ESG's two 10-TPD units into CSM and install those units for immediate operation.
Provide capital to scale CSM operations to 350-TPD processing capability.
Manage construction, operations, contractors, finances and off-take customers for pyrolysis oil, AquaHtm, char or other commodities.
Hold a controlling stake in the resultant jointly owned entity, and for both it and ESG to split net profits equally.
And for ESG to provide:
Its existing land to CSM to support 350-TPD processing, and additional land for expanded processing if later agreed upon.
All licenses and permits as required.
All existing feedstock and off-take agreements.
"Morocco is a beautiful country which is passionate about the environment and committed to its improvement not only within our borders but beyond," said Mohammed El Abbassi, Managing Director of ECOSYNERGIE. "After meeting with the team from Clean-Seas and hearing how their PCN technology can have a dramatic effect on the crisis of plastic pollution we quickly saw the environmental benefit as well as the economic one. Clean-Seas and ECOSYNERGIE are in perfect alignment."
Dan Bates, Clean Vision CEO, who travelled to Morocco to execute this Term Sheet, commented, "The opportunity to acquire and put two commercial scale pyrolysis plants into service quickly renders this deal particularly valuable as we expect to produce cash flow, and generate broader private sector and government interest, from the start.
"Of all the world's many MSW or plastic recycling or conversion engineering firms, the fact that Clean-Seas was invited to undertake a commercial-scale, multi-unit, long-term pyrolysis project speaks volumes to our growing reputation as the go-to company for waste plastic-to-energy pyrolysis technology, management and integration into our PCN," Mr. Bates added.
Clean-Seas, Inc. is a wholly owned subsidiary of Clean Vision. It provides efficient and cost-effective technology solutions that address the global waste plastic crisis as well as creating economic opportunity and social benefit in emerging and developed economies across the world. Clean-Seas offers "best in class" pyrolysis technology deployment for plastic waste-to-energy recycling, including securing feedstock and off-take agreements. For more information, visit: clean-seas.com.
Clean Vision is a public company that acquires and operates 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.
This press release includes forward-looking statements including statements related to plans to develop two commercial scale waste plastic-to-energy pyrolysis units in Morocco to serve as a host facility for C-S' patent-pending Plastic Conversion Network (PCN), entering into a business relationship in which C-S will establish a new US company, Clean-Seas Morocco, LLC (CSM), which will then set up any corresponding business entities as needed within Morocco, establishing the partnership with ECOSYNERGIE (ESG) making for a solid foundation upon which the Company expects to produce great success, the opportunity to acquire and put two commercial scale pyrolysis units into service quickly renders this deal particularly valuable and producing cash flow and generating broader private sector and government interest from the start. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements, including the ability to complete a definitive agreement when anticipated to develop two commercial scale waste plastic-to-energy pyrolysis plants in Morocco to serve as a host facility for the Company's patent-pending Plastic Conversion Network (PCN), the ability to form Clean-Seas Morocco, LLC (CSM) and any corresponding business entities within Morocco as planned, the ability to establish a partnership with ESG that will make for a solid foundation for great success, the ability to acquire and put two commercial scale pyrolysis units into service quickly and the ability to produce cash flow and generate broader private sector and government interest from the start. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company assumes no duty to update its forward-looking statements.
Clean Vision Corporation Dan Bates, CEO d.bates@cleanvisioncorp.com
View source version on accesswire.com: https://www.accesswire.com/695797/Clean-Visions-Clean-Seas-Signs-Binding-Term-Sheet-to-Buy-into-Expand-Upon-Morocco-based-Plastic-to-Energy-Pyrolysis-Plants-C-S-Plans-to-More-than-Double-Existing-Plant-Capacity-to-50-TPD-Initially-Integrate-Morocco-into-its-PCN-Reach-350-TPD-over
The company's better-than-expected results couldn't counter management's cautious forecast.
Stocks end sharply lower Friday, a day after hawkish comments by the head of the U.S. central bank, as investors also weigh some disappointing corporate earnings.
These Fool.com contributors see happy news in the future for Novavax, Axsome Therapeutics, and Novocure.
The ongoing game of footsie between billionaire tech mogul Elon Musk and social media platform Twitter reached a new stage April 22, as Musk began major steps towards buying the company. It all began when Musk announced that he had acquired a 9.2% stake in Twitter, making him the company's largest shareholder at the time. The ensuing chaos was primarily orchestrated by Musk and his very visible presence on Twitter, where he has 82.9 million followers.
Invesco Global Market Strategist Brian Levitt joins Yahoo Finance Live to discuss the latest statements from the Fed regarding interest rate hikes, volatility, shifting consumer demands throughout the pandemic, and the outlook on markets and tech stocks.
Approaching mid-year, we can see a clear shape developing for the markets in 2022, one based on increased volatility. The economy as a whole is facing challenges, in the form of inflation, a Fed policy shift, and continuing ripple effects from Russia’s Ukraine war and lingering COVID outbreaks, and investors are looking for pathways through it all. One clear path is to find the beaten-down stocks with potential for near- to mid-term outperformance. These are equities that have underperformed rec
Shares of fuel cell and hydrogen producer Plug Power (NASDAQ: PLUG) had a roller coaster of a week. On Tuesday, when the company announced a big new deal with Walmart, the stock rose double digits. The early-week surge came after the supplier of hydrogen fuel cells announced a new agreement with existing customer Walmart.
In this article, we discuss 10 tech stocks that analysts are increasing the price targets of. If you want to see some more tech stocks that were favored by market experts recently, click Analysts Are Increasing Prices Targets of These 5 Tech Stocks. The COVID-19 pandemic propelled the technology sector into overdrive, in terms of […]
Meta Chief Operating Officer Sheryl Sandberg is now facing "internal scrutiny" at the company after pressuring U.K. tabloid the Daily Mail to kill a story about her former boyfriend, Activision Blizzard CEO Bobby Kotick. The revelations come in an explosive new report from the Wall Street Journal detailing a coordinated campaign to discourage the tabloid from publishing the story, pulling resources from both Activision Blizzard and Meta. In spite of denying that he had knowledge of disturbing allegations of employee misconduct, including alleged rape, Kotick apparently knew about many of those incidents — a fact he concealed from the company's board.
Irrational exuberance is alive and well on Wall Street, according to a valuation model proposed by former Federal Reserve Chairman Alan Greenspan. The story of how Greenspan came to use the phrase “irrational exuberance” is well-known and widely repeated: He first used it in a December 1996 speech, after listening to Yale University professor Robert Shiller give a lecture on the subject. Shiller reportedly based his comments on the Cyclically-Adjusted Price/Earnings ratio, or CAPE.
Shares of Alibaba (NYSE: BABA) were up as much as 5.5% today, before settling into a 0.8% gain as of 1:56 p.m. ET. Yesterday, China's Securities Regulatory Commission held a meeting with members of large banks, insurance companies, and the country's social security fund, and encouraged these large in-country investors to buy stocks. China's government hasn't done itself any favors, of course.
Just about every industry has had to take special action to address road bumps in their supply chain. Because of this, two of the sector's titans, Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD), are getting some extra attention right now from several Wall Street research analysts. Let's dig into what Wall Street is saying about these two stocks.
The company is far away from a recovery
Stocks aren't like children -- it's OK to talk publicly about which investments are your favorites. I own shares of more than 60 different companies, but Disney (NYSE: DIS), Costco (NASDAQ: COST), and FuboTV (NYSE: FUBO) are my three favorite stocks right now.
It is the biggest acquisition financing ever put forward for one person. Elon Musk is doing it his way. More than two-thirds of the $46.5 billion financing package that Musk unveiled on Thursday in support of his bid for Twitter Inc would come from his assets, with the remainder coming from bank loans secured against the social media platform's assets.
The dire warning Rivian's CEO gave could have long-term implications on the company's prospects.
U.S. stocks plummeted Friday afternoon to close out another week in the red as investors weighed a bevy of corporate earnings and braced for more aggressive monetary tightening by the Federal Reserve in coming months.
Investors in steel giant Nucor (NYSE: NUE) had a great day on Thursday, with the stock exploding as much as 11% higher before succumbing to selling pressure on a red day for the markets, and ending with just a 3.7% gain. Indeed, with its 6.5% loss as of 11:50 a.m. ET this morning, Nucor stock has been dragged down below where it traded before reporting its earnings beat yesterday. Nucor beat earnings yesterday.
If you’re relatively new to investing, and you think 2022 has been a year from hell, imagine being in the stock market for over 40 years. That would’ve put you through the Great Financial Crisis in 2008-2009, the dot-com crash in 2000, the crash of 1987, and the savings and loan debacle of the 1980s — besides the pandemic bear.
Investors have been yanking money out of stocks. Here's a sign they aren't nearly done, according to Bank of America.