CLEANTECH BIOFUELS, INC. (CLTH)
Outstanding Shares as of last 10Q filing:
[b]As of May 12, 2008, 61,120,278 shares of the Company’s common stock were outstanding.
CleanTech Biofuels, Inc. is developing cutting edge waste to clean fuel technologies. They have licensed and are developing a core set of patented technologies which, when combined, can be used to convert the cellulosic material in trash (municipal solid waste), green waste, and other cellulosic waste materials into fermentable sugars for the production of ethanol.
CleanTech Biofuels, Inc. (CLTH) just moved from the Pinks to the OTC and NOW is a good entry point on a company that could revolutionize the way America deals with its curbside trash (municipal solid waste) with the unbelievable benefit of providing an alternate fuel source (ethanol).
With the soaring oil prices and the recently very publicized issue of rising corn prices and how corn ethanol is placing excessive pressure on food producers, CleanTech Biofuels waste-to-energy technologies are paving the way towards successful commercialization of cellulosic ethanol. CleanTech will have a zero impact on food producers, and will reduce landfills because it is using trash as its feedstock.
CleanTech can reduce landfills by as much as 85% and when you consider that Americans produce 4.4 pounds of waste per day, or 229 million tons of trash annually nationwide. This waste represents a virtually endless source of cellulosic feedstock for the production of biofuels that potentially will be available to CleanTech at almost no cost, and in some locations at a profit.
The waste disposal crisis in this Country, coupled with the Energy Independence and Security Act of 2007 which dictates that production of ethanol in the United States reach 36 billion gallons per year by the year 2022, of which 20 billion gallons per year is required to be produced from feedstock sources other than corn, positions CleanTech Biofuels to be a leader in the cellulosic ethanol industry.
CleanTech has begun to evaluate sites for its first commercial facility and has exclusive licenses on patented technologies, one of which was developed by scientist's at the University of California, Berkely. With this recent addition of this cutting edge technology, CleanTech believes that its hydrolysis process for producing ethanol from cellulosic waste streams will produce ethanol at a much lower cost than from grain or other agricultural feedstocks. CleanTech has also entered into a Joint Research Agreement with Green Tech America, Inc. a company founded by Dr. Nancy Ho of Purdue Universities.
CleanTech's unique technology package positions it to be the industry leader in using municipal solid waste (MSW) as the primary feedstock for energy production. Municipal biorefineries developed using their technology have the potential to:
Reduce the costs of transporting waste long distances for disposal.
Dramatically reduce pollution released into the environment by the disposal of municipal solid waste.
Reduce the amount of material going into landfills by as much as eighty five percent.
Increase the amount of recyclable materials that can be recovered from municipal solid waste.
Generate biofuels and other usable energy products at competitive prices.
Produce ethanol at a lower cost than from grain or other agricultural feedstocks.
Avoid the immense consumption of water and farmland that plague grain ethanol producers.
Use existing collection and disposal infrastructures that have existed for years.
In addition to the company's exclusive rights to utilize municipal solid waste as feedstock for the HFTA technology, CleanTech has also obtained a nonexclusive worldwide license for all other cellulosic biomass feedstocks for the production of ethanol. The licensed technology is described in U.S. Patents No. 5221357, 5366558, 5536325, 5628830, and 6019900. The sublicense agreement is with HFTA, a California corporation formed by the developers of the technology while at the University of California at Berkeley
REDUCES landfill disposal by 80-90%
DOES NOT include waste incineration
DOES NOT produce any solid pollutants
DOES NOT produce any liquid pollutants
DOES NOT impact air quality
Volume of waste requiring disposal in landfills is reduced by up to 90%.
Residue requiring disposal in landfill from process has been sterilized.
Most of the residue from process is inert material.
Greatly extends the remaining life of current landfills.
Tipping floor enclosed for receiving waste trucks in all types of weather conditions.
Minimal external noise from plant operation.
No wastewater or groundwater contamination.
Facility has negative air flow to control odor.
Household hazardous chemicals and other volatile pollutants are captured and destroyed
Message from the CEO:
CleanTech Biofuels, Inc. intends to be a leader in the emerging waste-to-energy industry, with a unique focus on using municipal garbage to make biofuels and other energy products.
Today, the world consumes more energy than at any other point in history and the demand for energy is projected to increase as the economies of China and India expand.
Much of the available crude oil, our principal source for fuel, is concentrated in countries where there is significant political strife or is controlled by countries that are not allies of the United States.
The price of crude oil (and the products refined form it) have continually increased since 2002. Any disruption in the supply of oil, whether from a hurricane in the Gulf of Mexico or political strife in a distant oil producing country, causes a dramatic spike in the price of oil.
Biofuels along with other renewable energy sources will play a critical role in meeting the world’s voracious demand for energy and slowing the rapid depletion of our fossil fuel reserves.
Already, the production of ethanol from corn and other crops is exploding in the United States and worldwide, causing the price of corn and other food staples to rise at the same time. If we continue to use our crop land to grow energy, food prices will continue to rise, crop land will be depleted and our water resources will dwindle.
America also produces an immense amount of waste. Americans generate over 245 million tons of garbage every year. The majority of that material ends up in landfills. We are running out of space to dispose of garbage. Our largest cities are paying more and more each year to landfill operators.
Part of the solution to these challenges is to take full advantage of the energy in municipal, industrial, and agricultural wastes that otherwise create disposal problems. Our technologies allow us to convert waste from our cities, farms, and factories into clean fuels that will be used in the same cities, farms and factories.
Our focus is on improving and commercializing our core technologies and acquiring complementary technologies to develop clean energy from waste. While garbage can not, and will not, replace all of the energy we currently consume, maximizing the energy we recover from our waste will be an important piece of the solution to the energy and waste disposal problems we face today and in the future.
Edward P. Hennessey, Jr.
Chief Executive Officer
The Company is currently led by its Chief Executive Officer, Chief Financial Officer, and General Counsel:
Ed Hennessey. Mr. Hennessey is CEO and President of the Company. He also serves as Chairman of the Board of Directors of the Company. He has been President and CEO of CleanTech Biofuels and its predecessor companies, since 2002. He has developed the business strategy, and secured the existing technology licenses and the funding required to date. Prior to becoming involved in the waste-to-energy industry, Mr. Hennessey worked in the securities industry beginning with Shearson Lehman Brothers in 1986 and ultimately opening and managing his own securities brokerage and investment banking firm, which he sold in 1999.
Thomas Jennewein. Mr. Jennewein is Chief Financial Officer of the Company. Previously he served as Manager of Financial Reporting for the Maverick Tube Corporation and prior to that worked in a similar position for the Argosy Gaming Company. Mr. Jennewein began his career in 1985 as a Senior Auditor with Arthur Anderson & Company.
Michael D. Kime. Mr. Kime serves as General Counsel of the Company. Prior to joining the Company in 2007 he was a partner in the law firm of Sauerwein, Simon, Blanchard, & Kime, P.C. Mr. Kime has been a practicing attorney since 1994, focusing on securities law, finance, mergers and acquisitions. Mr. Kime also co-wrote and co-produced the award winning documentary, Can Mr. Smith Get to Washington Anymore?. Mr. Kime attended Louisiana State University Law School where he graduated ranked second in his class and served on the Louisiana Law Review.
Board of Directors
In addition to Mr. Hennessey the Board of Directors includes:
Benton Becker. Mr. Becker is a lawyer in private practice in Miami Dade County. He also teaches constitutional law at St. Thomas University School of Law in Miami, Florida. He has served on the Board of Directors of Tengasco, Inc., an American Exchange public oil and gas company. Mr. Becker began his legal career in Washington D.C. with the United States Department of Justice, eventually rising to serve as legal counsel to President Gerald Ford at the time that President Ford was assuming the Presidency from former President Richard Nixon. He received his J.D. from the American University.
Ira Langenthal. Dr. Langenthal co-founded Signal Analysis Industries Corp. (SA/COR), an instrument manufacturing company that was subsequently acquired by Honeywell. After the acquisition Dr. Langenthal continued to work at Honeywell, where he served as Director of Engineering, Vice President of Operations and Vice President and General Manager of Honeywell’s Test Instruments Division until retiring in 1991. Since his retirement, Dr. Langenthal has been active as a consultant and on several Boards of Directors and has been active in Colorado’s Incubator System. . He received a M.Eng. and a Ph.D. from Yale University in statistical communications/information theory and received the award for distinguished individual performance.
Larry McGee. Since 1998 until his retirement in 2006, Mr. McGee was Senior Vice President and Chief Development Officer of IESI, an environmental services company that collects, transports, and disposes non-hazardous residential, industrial and commercial wastes as well as providing recycling services. IESI was founded in 1995 and purchased by BFI Canada in 2005. Mr. McGee previously held various financial management positions in the waste management business and worked as a Certified Public Accountant. Since his retirement from IESI, Mr. McGee purchased, and now operates, a landfill in Slidell, Louisiana. He is in the process of acquiring additional landfill locations. He has a B.S. in accounting from the University of Tennessee.
Paul Simon, Jr. Mr. Simon is a practicing attorney and partner in the law firm of Sauerwein, Simon, and Blanchard, which he joined in 2006. Prior to that he was a partner in the firm Helfrey, Simon and Jones, P.C. He received his J.D. from the St. Louis University School of Law. Mr. Simon serves as outside legal counsel for numerous corporations and concentrates his practice in the areas of real estate and corporate transactions, construction and business litigation and governmental law and relations.
CLEANTECH BIOFUELS,INC HEADLINES
CleanTech Biofuels, Inc. Sets Annual Meeting Date and Promotes Executive
PR Newswire(Tue 5:00pm)
CleanTech Biofuels, Inc. Announces It Is Evaluating Sites for First Municipal Solid Waste to Ethanol Plant
Business Wire(Tue, May 13)
CleanTech Biofuels, Inc. Announces First Phase of its Municipal Solid Waste to Ethanol Project Is Now Operational
Business Wire(Wed, May 7)
CleanTech Biofuels, Inc. Announces Joint Research Agreement with Green Tech America, Inc. and Dr. Nancy Ho of Purdue University
Business Wire(Tue, Apr 29)
Ed Hennessey, CEO of CleanTech Biofuels, Inc., Talks With Traders Nation
Marketwire(Tue, Apr 29)
CleanTech Biofuels, Inc. Engages Hazen Research, Inc. to Construct and Operate Municipal Solid Waste to Ethanol Project.
PR Newswire(Tue, Apr 22)
CleanTech Biofuels, Inc. Announces Licensing Agreement with HFTA and the University of California Berkeley
Business Wire(Tue, Apr 15)
CLEANTECH BIOFUELS, INC. Financials
EDGAR Online Financials(Tue, Apr 8)
CLEANTECH BIOFUELS, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement, Unregistered Sale of Equity
EDGAR Online(Tue, Mar 25)
CleanTech Biofuels, Inc. Announces the Commencement of the First Phase of Its Municipal Solid Waste to Ethanol Project.
PR Newswire(Tue, Mar 18)
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