Seeking Alpha - CLNV Signs MOU Targeting $55 Billion Recycled Plastics Market
Symbols: CLNV, FTXP, CBDL, RETC
June 23, 2021 -- InvestorsHub NewsWire -- via Seeking Alpha
Dan Bates, Clean Vision CEO, said, "We couldn't ask for a better company to partner with on these important projects. Aside from our New England initiative, Clean-Seas has several other major projects under active development. By partnering with GGII, we now have a world class team that I am confident will deliver on its commitment to curb the world's waste plastic problem while delivering value to our shareholders.
Clean Vision's Subsidiary Clean-Seas Signs Binding MOU with Plastic Waste-to-Energy Technology Group Global Green Int'l Investments; Companies Will Partner on Clean-Seas' US and International Clean Energy Initiatives to Address Projected $55 Billion Market
LOS ANGELES, CA - June 23, 2021 / Clean Vision Corporation (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 binding memorandum of understanding (MOU) with Global Green International Investments (GGII).
Headquartered in Singapore, GGII is a thirteen years-old, leading renewable energy company that develops innovative technology solutions that solve the world's growing plastic waste problem and produce high value commodities and renewable energy via its proprietary pyrolysis process. GGII and its partner groups manage numerous pyrolysis projects in Australia, New Zealand the Philippines, South Korea and other Asian countries.
According to McKinsey and Company research, "Pyrolysis is an invaluable technology to treat mixed polymer streams, which mechanical recycling technologies cannot handle. If plastics demand follows its current trajectory, global plastics-waste volumes would grow from 260 million tons per year in 2016 to 460 million tons per year by 2030, taking what is already a serious environmental problem to a whole new level. We also believe there are opportunities to build a new and profitable branch of the industry based on recycled plastics, which our research suggests could represent a profit pool of as much as $55 billion a year worldwide by 2030."
Under the terms of the two-year agreement, the companies will partner on the development, build out and maintenance of commercial-scale plastic waste-to-energy processing plants that serve municipal and regional population centers worldwide.
Clean-Seas further benefits by gaining access to GGII's unique technical data that it requires to analyze a prospective commercial project prior to funding, such as its recently announced 40 tons/day waste-plastics pyrolysis initiative in Massachusetts. That data includes various regulatory technology certifications, patents, feedstocks (waste streams, such as municipal solid waste or waste-plastics) and commodity output (such as activated carbon (CARN), diesel and syngas).
