LOS ANGELES, CA / ACCESSWIRE / March 7, 2023 / Clean Vision Corporation (OTCQB:CLNV) ("Clean Vision" or the "Company"), an emerging leader in the sustainable clean technology and green energy sectors, announced today that the Morocco plant the Company is in the process of acquiring is now generating revenues following an initial commissioning stage, which involves equipment assessments, equipment upgrades, personnel vetting, and other steps.
As announced in the Company's press release dated January 23, 2023 , its wholly owned subsidiary, Clean-Seas, Inc. ("Clean-Seas"), entered into a definitive agreement to acquire a 51 percent (51%) interest of Agadir, Morocco -based Ecosynergie Group ("Ecosynergie"), which owns and operates two pyrolysis conversion units ("PCUs") targeting the collection of mixed waste plastics sourced locally and from the European Union and the conversion of such into environmentally sustainable fuels.
"Right now, Ecosynergie is currently operating one of the two 10 ton-per-day ("TPD") PCU, which has only been running less than 10 days per month so far this year," stated Daniel Harris , Clean Vision CRO. "However, even the limited operation is more than enough to support our objectives post-acquisition given our strategy to scale operation in this Morocco plant."
In the near term, the Company expects that the Morocco plant will begin operating the second 10 TPD PCU. At that point, each of these PCUs is expected to produce monthly outputs exceeding what has been demonstrated so far in January and February this year.
The Company expects the Morocco plant to expand operations with an additional 50 TPD PCU by May 1 , using pyrolysis technology manufactured in France . A second 50 TPD PCU is expected to begin operation in fall 2023, increasing total production at the Morocco plant to 120 TPD by the end of the year.
The management believes that the key milestone of Ecosynergie is a proof of concept and scalability of its Plastic Conversion Network ("PCN"), which the Company plans to scale. Following the closing of its acquisition, the Company also plans to upgrade the equipment at this Morocco plant to drive bottom-line value by reducing fixed cost investments over time through superior equipment quality.
Dan Bates , Clean Vision CEO added, "Based on what we have seen this year, our operational target is around $12 thousand in revenues per week, per PCU, provided each PCU is engaged 6 days per week. We also plan to begin operating the second PCU this month which should double the topline output and present annualized revenue of around $1.25 million with just these two units in operation. Adding the two 50 TPD PCUs and reaching 120 TPD, we anticipate our revenue to exceed $7.5 million annually. We believe that Clean-Seas is perfectly positioned to scale the PCN model and achieve our position as a leading waste plastic-to-clean fuels supplier."
The Company also notes that the demand for its products from refiners and producers appears to satisfy their desire for ultra-low sulphur fuels and precursors, which enable the Company's customers to achieve renewable fuel standards and incentives and provide an additional tailwind in the commercialization process.
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