Clean Vision's Clean-Seas Signs LOI to Build and Operate $30 Million Waste Plastic-to-Energy
Clean Vision's Clean-Seas Signs LOI to Build and Operate $30 Million Waste Plastic-to-Energy Pyrolysis Plant in Africa; Kinshasa, DRC is Company’s First Project in Africa, Its Fourth Continent
LOS ANGELES, CA / ACCESSWIRE / August 3, 2021 / Clean Vision Corporation (OTC PINK:CLNV), a holding company that acquires and operates sustainable clean tech and green energy businesses, today announced that its Clean-Seas subsidiary has signed a Letter of Intent to build and operate a waste plastic-to-energy pyrolysis plant in Kinshasa in the Democratic Republic of Congo (DRC) with a $30 million capex price tag.
Kinshasa is the capital and the largest city of the DRC with a 2021 population of 15 million. The DRC Ministry of the Environment estimates that greater than 9,000 tons of municipal solid waste (MSW) is collected and disposed of daily with this waste being incinerated or dumped in landfills which are rapidly reaching capacity.
"We're thrilled to be working in the DRC," Dan Bates, Clean Vision Chief Executive Officer, said. "Africa has always been one of our targets and it is now the fourth continent upon which we have an opportunity to introduce our services. The potential for this technology is limitless, a continent with an ample supply of feedstock and a dramatic need for clean, environmentally friendly power. We believe that once leaders of other African nations read about our MSW conversion facility being built, which pays for itself in three years, and solves the waste plastic and landfill problems while providing clean energy - our opportunity is practically unlimited.
"Just as in the west and all over the world," Mr. Bates added, "Africa's youthful population is especially sensitive to the ecological impact of waste plastic which makes the Continent a highly fertile business environment for our clean tech."
Africa is the world's second largest and second-most populous continent after Asia. With 1.3 billion people, its population is the youngest amongst all the continents with a 2012 median age of 19.7.
This agreement is with Kinshasa-based Hamden Group, a consulting firm that structures national and municipal infrastructure and other major projects for public private partnership in DRC. Its Letter to Clean-Seas states it establishes a 30-year municipal solid waste (MSW) feedstock agreement, for processing 200 metric tons of MSW per day generated from the Kinshasa region in the proposed 2-module pyrolysis plant based on GGII patented technology.
The LOI continues, we look forward to "bringing this vital technology to DRC for processing the MSW in the region to reduce its environmental impact and avoid the imminent saturation of local landfills." It adds, "The Hamden Group expects this JV with Clean-Seas to secure the financing for the 2-module pyrolysis plant to design, construct, commission, train local staff and operate the pyrolysis plant for the duration of the 30-year MSW feedstock agreement" and "arrange for all the off-take agreements."
Clean-Seas is already in active discussion with suitable investors who are keen on investing in Africa and financing the first waste plastic-to-energy plant in Kinshasa.
Commenting on the Agreement, Manu Mabengo Tsumbu, Hamden Group Managing Director, said, "We were attracted to the strong financial and environmental benefits this project offers and by the longstanding track record of the Clean-Seas team and its proven technology. Further, the Kinshasa government has requested that this pyrolysis plant be scalable - and we're impressed that Clean-Seas has assured us this is seamlessly achievable through the plant's modular design."
The first phase of the plant's specifications is to provide for the daily conversion of 200 metric tons of MSW, out of the 9,000 tons collected, into: 96 MWh of electricity, 15,000 liters of clean burning diesel fuel, 3,500 liters of industrial lubricants, and three metric tons of char. Additionally, it will generate 70,000 metric tons of carbon credits per year as well as about 100 good paying local jobs.
The deal is being managed by Clean-Seas' representatives, Mr. Venkat Kumar Tangirala and Mr. Srinivas Sharma.
About Clean Vision Corporation
Clean Vision is a public company that acquires and operates a portfolio of synergistic companies in the sustainable clean technology and green energy sectors. To view CEO Dan Bates' July 21 investor presentation delivered at the Emerging Growth Conference, click on: https://youtu.be/Iywz3YnCRdg. For more information, visit: cleanvisioncorp.com.
About Clean-Seas, Inc.
Clean-Seas, Inc. 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. It 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/.
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SOURCE: Clean Vision Corporation