$CLNV Clean Vision Corporation Secures $1.75 Milli
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Posted On: 09/07/2023 9:18:45 AM
$CLNV Clean Vision Corporation Secures $1.75 Million from the West Virginia Department of Economic Development
https://www.accesswire.com/781660/clean-visio...evelopment
Funding to Accelerate the Conversion of Plastic Feedstock to Circular Fuels
LOS ANGELES, CA / ACCESSWIRE / September 7, 2023 / Clean Vision Corporation (OTCQB:CLNV) (the "Company"
, an emerging developer of sustainable clean technology announced today that the proceeds of the $1.75 million forgivable loan have been disbursed to the Company in relation to its Memorandum of Agreement with the West Virginia Department of Economic Development entered into on June 1, 2023. The terms of the funding require the Company to employ a minimum of 40 jobs within 3 years for the loan to be forgiven. This non-dilutive financing will play a pivotal role in accelerating the launch of the Company's groundbreaking plastic waste-to-circular fuel initiative in Quincy, West Virginia.
This significant financial commitment by the West Virginia Department of Economic Development underscores their dedication to fostering innovation, supporting environmental sustainability, and driving economic growth within the state of West Virginia.
Clean-Seas West Virginia, Inc. ("Clean-Seas WV" , a subsidiary of the Company, is developing a project designed to address one of the world's most pressing environmental challenges - plastic pollution. Through its pioneering process, plastic feedstock is converted into clean and sustainable fuel that will be provided to the plastic manufacturing industry, driving the circular plastic economy, significantly reducing plastic pollution and contributing to a greener and more sustainable future.
Key highlights of the project include:
1. Advanced Recycling Infrastructure: The funding will enable Clean-Seas WV to establish a state-of-the-art conversion facility in Quincy, West Virginia, equipped with pyrolysis technology to efficiently convert plastic waste into clean and renewable fuels.
2. Job Creation: The project is expected to generate a minimum of 40 jobs within 3 years, providing valuable employment to the region.
3. Environmental Impact: By diverting plastic waste from incineration, landfills and oceans, we believe the Company will make a substantial contribution to reducing plastic pollution, ultimately enhancing the environmental quality of Quincy and its surroundings.
4. Clean Energy Production: The clean fuel produced through this process will contribute to the plastic circular economy, reducing dependence on fossil fuels and decreasing the carbon footprint.
Mr. Daniel Bates, CEO of the Company, stated, "We are thrilled to receive this support from the West Virginia Department of Economic Development. It not only accelerates our mission to combat plastic pollution but also underscores our dedication to driving economic growth within the community. This collaboration will play a pivotal role in shaping a cleaner, greener future for Quincy and the entire state of West Virginia."
The partnership between the Company and the West Virginia Department of Economic Development marks a significant step towards realizing a sustainable and circular economy, where plastic feedstock becomes a valuable resource rather than a global environmental threat.
https://www.accesswire.com/781660/clean-visio...evelopment
Funding to Accelerate the Conversion of Plastic Feedstock to Circular Fuels
LOS ANGELES, CA / ACCESSWIRE / September 7, 2023 / Clean Vision Corporation (OTCQB:CLNV) (the "Company"
, an emerging developer of sustainable clean technology announced today that the proceeds of the $1.75 million forgivable loan have been disbursed to the Company in relation to its Memorandum of Agreement with the West Virginia Department of Economic Development entered into on June 1, 2023. The terms of the funding require the Company to employ a minimum of 40 jobs within 3 years for the loan to be forgiven. This non-dilutive financing will play a pivotal role in accelerating the launch of the Company's groundbreaking plastic waste-to-circular fuel initiative in Quincy, West Virginia. This significant financial commitment by the West Virginia Department of Economic Development underscores their dedication to fostering innovation, supporting environmental sustainability, and driving economic growth within the state of West Virginia.
Clean-Seas West Virginia, Inc. ("Clean-Seas WV"
, a subsidiary of the Company, is developing a project designed to address one of the world's most pressing environmental challenges - plastic pollution. Through its pioneering process, plastic feedstock is converted into clean and sustainable fuel that will be provided to the plastic manufacturing industry, driving the circular plastic economy, significantly reducing plastic pollution and contributing to a greener and more sustainable future. Key highlights of the project include:
1. Advanced Recycling Infrastructure: The funding will enable Clean-Seas WV to establish a state-of-the-art conversion facility in Quincy, West Virginia, equipped with pyrolysis technology to efficiently convert plastic waste into clean and renewable fuels.
2. Job Creation: The project is expected to generate a minimum of 40 jobs within 3 years, providing valuable employment to the region.
3. Environmental Impact: By diverting plastic waste from incineration, landfills and oceans, we believe the Company will make a substantial contribution to reducing plastic pollution, ultimately enhancing the environmental quality of Quincy and its surroundings.
4. Clean Energy Production: The clean fuel produced through this process will contribute to the plastic circular economy, reducing dependence on fossil fuels and decreasing the carbon footprint.
Mr. Daniel Bates, CEO of the Company, stated, "We are thrilled to receive this support from the West Virginia Department of Economic Development. It not only accelerates our mission to combat plastic pollution but also underscores our dedication to driving economic growth within the community. This collaboration will play a pivotal role in shaping a cleaner, greener future for Quincy and the entire state of West Virginia."
The partnership between the Company and the West Virginia Department of Economic Development marks a significant step towards realizing a sustainable and circular economy, where plastic feedstock becomes a valuable resource rather than a global environmental threat.
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