CLean Tech Biofuels Inc (CLTH)

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CLTH.OB Recognizes Missouri for Meeting Mandatory Renewable Portfolio Standards

Today after the closing bell, CleanTech Biofuels gave special recognition to Missouri for adopting Proposition C, Renewable Portfolio Standards, which requires the state’s three large investor-owned utilities to generate 15 percent of their electricity from renewable sources by 2021. With Missouri now onboard, over half the U.S. States have adopted Renewable Portfolio Standards.

The approval of this initiative tightens the voluntary standards that the Missouri legislature passed last year. The previous legislature only obligated companies to make “good-faith efforts” to reach a goal of 11 percent renewables by 2020. The overwhelming support behind this initiative demonstrates the voting public’s strong favor of developing local sources of energy, with more than 66% of the votes cast in favor of adoption.

CleanTech is currently focused on implementing its technology for the production of renewable biomass from municipal solid waste at a commercial site in Chicago, Illinois. Other sites for commercial development are also being evaluated by the company.