LOS ANGELES, CA / ACCESSWIRE / May 10, 2023 / Clean Vision Corporation (OTCQB:CLNV) ("Clean Vision" or the "Company"), an emerging leader in the sustainable clean technology and green energy sectors, is excited to announce that its wholly owned subsidiary, Clean-Seas, Inc. ("Clean-Seas"), has signed a Memorandum Of Understanding (the "MOU" or the "Partnership") with Laubros Holdings (M) Sdn Bhd ("Laubros"), a Malaysian-based engineering, procurement, and construction firm.
The MOU relates to Laubros delivering R&D research labs, warehousing, and pyrolysis facilities to serve as foundational plant for Clean-Seas's Southeast Asia regional expansion.
"This partnership is a major development in the process of scaling our Plastic Conversion Network (PCN) project as we push hard to emerge as the #1 waste-plastic conversion operation on the planet," stated Dan Bates , CEO of Clean Vision Corp. "It's great to partner with Laubros and tap into the firm's top-tier expertise, talent, and resources. We have already developed overwhelming confidence in their ability to deliver this project on time, within budget, and above industry standards for quality. That confidence better positions Clean-Seas to mobilize our innovative solutions with maximum impact targeting the region's plastic waste."
The PCN project is a revolutionary initiative by Clean-Seas to combat the growing plastic waste crisis by converting plastic waste into valuable products such as fuels, chemicals, and other materials. The partnership with Laubros Holdings will enable Clean-Seas to expand its global presence while delivering innovative solutions to the Southeast Asia region.
Laubros Managing Director, Dato Lau Chuan Hoo , also expressed keen enthusiasm about the partnership. "We are excited to partner with Clean-Seas. This collaboration will enable us to provide innovative solutions that stand to drive fresh support for the region's plastic waste management efforts. And we look forward to demonstrating our ongoing commitment to delivering world-class industrial construction solutions to our valued clients."
This MOU marks a significant development in Clean-Seas's PCN project, expanding the Company's global presence through collaboration with a reputable partner that is well-positioned to deliver high-quality industrial construction solutions in the Southeast Asia region. With their combined expertise and resources, Clean-Seas and Laubros are united in their shared commitment to deliver innovative and impactful solutions geared toward making a game-changing impact on the environment while simultaneously contributing to the region's economic growth and development.
Once established, Clean-Seas Malaysia will be a Joint Venture between the Company and Roselle Capital , a boutique investment firm with deep connections in China , Malaysia , and throughout Southeast Asia .
Shaun Wootton , Managing Director of Roselle Capital , noted, "This JV couldn't come at a better time as the Southeast Asia region is looking to demonstrate its commitment to a cleaner, more prosperous future for its people. Clean-Seas and Roselle have been working together on this since before Covid delivered a crippling blow to the global business environment in early 2020, and we believe the progress Clean-Seas has made in the interim materially elevates the viability of the project."
The project, as designed, is to commission PCN waste plastic conversion facilities throughout Southeast Asia , with the first set to take root in Sabah, Malaysia . Each facility will be located at or near a deep-water port enabling easy access for aggregating waste plastic from the region. Initially, the facilities will convert the huge volume of existing feedstock before looking beyond the Malaysian borders.
The concept of the PCN is to establish conversion facilities as close to the source of the waste stream as possible and to convert the feedstock into clean commodities, including the Company's branded AquaH™ clean hydrogen, using pyrolysis technology, all in a Basel Convention compliant manner.
"After Covid shut down the momentum we had built up in Malaysia , I didn't expect it to restart in such a positive and aggressive manner," continued Bates. "With the support of the new administration, in concert with our strong working relationship with Roselle, we anticipate establishing facilities at scale throughout the region from 2024."
Funding for phase one of the project is estimated at approximately USD$500 million and expected to be secured by Roselle Capital . Additional investment for the public-private partnership may be secured through debt and equity investment. In addition, management anticipates the issuance and launch of a green bond to further support the growth of the Company throughout the region.
"The enormity of the problem and the timeliness of the Clean-Seas PCN solution makes this an eminently fundable project with our long-standing investors and strategic partners," added Wootton.
Management expects both State and Federal final approval notices for the site within the next 12 months.
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