LOS ANGELES, CA / ACCESSWIRE / April 25, 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 its wholly owned subsidiary, Clean-Seas, Inc. ("Clean-Seas"), has successfully completed its previously announced acquisition of a 51% interest in Ecosynergie Group, a company focused on sustainable products and solutions based in Agadir, Morocco.
Following the completion of this transaction, Ecosynergie Group has been renamed Clean-Seas Morocco, LLC ("Clean-Seas Morocco"). Clean-Seas Morocco is expected to be able to process 120 tons per day (TPD) of pyrolysis waste-plastic at its Agadir facility beginning in October 2023.
Clean-Seas Morocco will serve as a Plastic Conversion Network ("PCN") hub focused on the collection of waste plastic sourced from North Africa and the European Union and its conversion into a sustainable green energy source.
"We are thrilled to have completed our acquisition of a majority interest in Ecosynergie Group," said Clean Vision Chief Revenue Officer, Daniel Harris. "This is a significant milestone for Clean-Seas as we continue to scale up our global footprint. The acquisition will enable us to significantly expand operations in North Africa-a critical and strategically important geographic zone for waste plastic collection and conversion."
Clean-Seas Morocco is expected to operate with a processing capacity of 20 TPD by the end of the second quarter of 2023. Clean-Seas Morocco's first 10-TPD unit produced approximately 60,000 Kg per month (60 Metric Tonnes) and over $25,000 in revenue in January and February 2023. Management expects production to double in May, with the second 10-TPD unit to begin operation in the coming weeks. As of the date of this press release, waste plastic feedstock used by Clean-Seas Morocco has been sourced from the local area.
Following the completion of this transaction, Clean-Seas Morocco acquired two new 50-TPD units which are expected to expand its capacity to 70 TPD by June 2023 and 120 TPD by September 2023. The Company expects that Clean-Seas Morocco's capacity to further scale up to 500 TPD over the next 2-3 years.
Clean-Seas Morocco expects to leverage Ecosynergie Group's existing infrastructure and expertise in sustainability and plastic waste management to create a sustainable and efficient waste management system in North Africa. The hub will also serve as a platform for Clean-Seas to expand its operations in the region and create new opportunities for growth.
"We are excited to join forces with Clean-Seas and become part of the Clean Vision family," said Mohammed El Abassi of Ecosynergie Group. "Together, we will create a sustainable future and make a positive impact on the environment. We look forward to working with Clean-Seas to establish Clean-Seas Morocco as the PCN hub in North Africa."
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