$CLNV Clean Vision Corporation Announces Launch of $340 Million Green Bond
https://www.accesswire.com/827240/clean-visio...green-bond
LOS ANGELES, CA / ACCESSWIRE / January 23, 2024 / Clean Vision Corporation (OCTQB:CLNV) ("Clean Vision" or the "Company"
, an emerging leader in innovative plastic recycling and clean fuel development, is proud to announce the launch of the Company's previously announced Green Bond Offering through its subsidiary, Clean-Seas Partners UK Limited ("Clean-Seas UK" . If the Green Bond Offering is fully subscribed, the Company could raise up to approximately $340 million through the sale of notes (the "Green Notes" , the funds from which are planned to be used to fund projects in Morocco, West Virginia, Arizona and Georgia (Eastern Europe).
In connection with the Green Bond Offering, Clean-Seas UK has established a Luxembourg securitization vehicle, or "Compartment," where certain assets representing an aggregate amount of all repayment obligations under the Green Notes to be issued. Clean Vision has been focused on establishing waste plastic conversion facilities around the world utilizing our patent-pending technology known as the Plastic Conversion Network ("PCN" . Our current plans are to use the proceeds from the Green Bond offering to expand our project's current waste plastic processing capabilities to 700 tons per day. If we are successful in hitting our goal of raising $340 in the Green Bond Offering, current estimates are that by the end of 2024, our West Virginia project will be operational, and the planned expansion of our Morocco facility will be complete.
Dan Bates, CEO of Clean Vision, states, "Launching the Green Bond Offering is a crucial next step in our growth and an important milestone for the Company. If we are able to raise capital through the Green Bond Offering, we expect to be able to take significant strides towards addressing the global plastic pollution problem by having the access to capital needed to expand our PCN. We are committed to establishing these facilities that we believe will have a direct impact on addressing the plastic pollution problem."
"Our projects aim to revolutionize the plastic waste landscape by creating a sustainable model for the circular plastic economy and a cleaner planet for future generations," added Shaun Wootton, Managing Director of Clean-Seas UK.
The Company's operations are aimed at aligning with global efforts for a circular plastic economy, emphasizing the importance of reducing, reusing, and recycling materials to minimize waste and environmental impact. The utilization of pyrolysis technology in our PCN further contributes to the reduction of greenhouse gas emissions, showcasing our commitment to innovative and eco-friendly solutions.
The Green Bond Offering, supported by Grant Thornton International and Super Global Services SA, a leading provider for the structuring of sustainable investments, recently received a Second Party Opinion (SPO) from International Shareholder Services (ISS), validating the Environmental, Social, Governance (ESG) aspects of our Company and the Green Bond Offering to investors. Dr. Oliver Decker of Grant Thornton stated, "We are honored to support Clean Vision in this transformative venture, leveraging our financial expertise to drive positive environmental impact."
The Green Bond Offering is structured to have capital raised through the sale of Green Notes to be deposited in the Compartment established by Super Global Securitization SA in Luxembourg, which will then flow to Clean-Seas UK where it will be distributed to our main operating subsidiary, Clean-Seas, Inc., for deployment to projects in West Virginia, Morocco and Georgia. The Green Notes carry a term of 10-years, a fixed interest rate of 7% p.a. and are currently scheduled to be issued on or about January 22, 2024. The Green Bond Offering has been given the ISIN number: DE000A3HAKS8.
https://www.accesswire.com/827240/clean-visio...green-bond
LOS ANGELES, CA / ACCESSWIRE / January 23, 2024 / Clean Vision Corporation (OCTQB:CLNV) ("Clean Vision" or the "Company"
, an emerging leader in innovative plastic recycling and clean fuel development, is proud to announce the launch of the Company's previously announced Green Bond Offering through its subsidiary, Clean-Seas Partners UK Limited ("Clean-Seas UK" . If the Green Bond Offering is fully subscribed, the Company could raise up to approximately $340 million through the sale of notes (the "Green Notes" , the funds from which are planned to be used to fund projects in Morocco, West Virginia, Arizona and Georgia (Eastern Europe). In connection with the Green Bond Offering, Clean-Seas UK has established a Luxembourg securitization vehicle, or "Compartment," where certain assets representing an aggregate amount of all repayment obligations under the Green Notes to be issued. Clean Vision has been focused on establishing waste plastic conversion facilities around the world utilizing our patent-pending technology known as the Plastic Conversion Network ("PCN"
. Our current plans are to use the proceeds from the Green Bond offering to expand our project's current waste plastic processing capabilities to 700 tons per day. If we are successful in hitting our goal of raising $340 in the Green Bond Offering, current estimates are that by the end of 2024, our West Virginia project will be operational, and the planned expansion of our Morocco facility will be complete. Dan Bates, CEO of Clean Vision, states, "Launching the Green Bond Offering is a crucial next step in our growth and an important milestone for the Company. If we are able to raise capital through the Green Bond Offering, we expect to be able to take significant strides towards addressing the global plastic pollution problem by having the access to capital needed to expand our PCN. We are committed to establishing these facilities that we believe will have a direct impact on addressing the plastic pollution problem."
"Our projects aim to revolutionize the plastic waste landscape by creating a sustainable model for the circular plastic economy and a cleaner planet for future generations," added Shaun Wootton, Managing Director of Clean-Seas UK.
The Company's operations are aimed at aligning with global efforts for a circular plastic economy, emphasizing the importance of reducing, reusing, and recycling materials to minimize waste and environmental impact. The utilization of pyrolysis technology in our PCN further contributes to the reduction of greenhouse gas emissions, showcasing our commitment to innovative and eco-friendly solutions.
The Green Bond Offering, supported by Grant Thornton International and Super Global Services SA, a leading provider for the structuring of sustainable investments, recently received a Second Party Opinion (SPO) from International Shareholder Services (ISS), validating the Environmental, Social, Governance (ESG) aspects of our Company and the Green Bond Offering to investors. Dr. Oliver Decker of Grant Thornton stated, "We are honored to support Clean Vision in this transformative venture, leveraging our financial expertise to drive positive environmental impact."
The Green Bond Offering is structured to have capital raised through the sale of Green Notes to be deposited in the Compartment established by Super Global Securitization SA in Luxembourg, which will then flow to Clean-Seas UK where it will be distributed to our main operating subsidiary, Clean-Seas, Inc., for deployment to projects in West Virginia, Morocco and Georgia. The Green Notes carry a term of 10-years, a fixed interest rate of 7% p.a. and are currently scheduled to be issued on or about January 22, 2024. The Green Bond Offering has been given the ISIN number: DE000A3HAKS8.
