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CLNO

Cleantech Transit Receives LOI From Public Private Partnership
Date : 06/08/2012 @ 3:30PM
Source : MarketWire
Stock : Cleantech Transit (CLNO)
Quote : 0.09 -0.0291 (-24.43%) @ 3:58PM

Cleantech Transit, Inc. ("Cleantech or the Company") (OTCBB: CLNO) is pleased to announce the Company has received a Letter of Interest (LOI) from a United Nations Sponsored Intergovernmental Agency representing 28 member states to implement and operate biomass power plants.
According to the LOI, this Intergovernmental agency would facilitate the creation of a public private partnership (PPP) with Cleantech Transit Inc. to develop, implement and operate up to 47 biomass power plants to be deployed in various member states based on their power needs. The proposed biomass plants would be a minimum of 1MW in size. The ability of intergovernmental organizations can play a pivotal role to implement biomass as one of the key power sources in numerous areas simultaneously.

"The proposed PPP by the Intergovernmental agency is an extremely positive development for our Company, giving us the potential to expand our portfolio of biomass projects rapidly and help move the company toward higher revenue numbers," said President and CEO of Cleantech Transit, Inc. Kenneth Bosket