LOS ANGELES, CA / ACCESSWIRE / September 23, 2024 / Clean Vision Corporation (OTCQB:CLNV) ("Clean Vision" or the "Company"), an emerging leader in innovative plastic recycling and clean fuel development, is proud to announce that its wholly owned subsidiary, Clean-Seas West Virginia, Inc. ("Clean-Seas West Virginia"), has signed an agreement with UPS Industrial Services, LLC ("UPSIS") for the engineering, procurement, and construction ("EPC") of its plastic conversion facility in Quincy, West Virginia. The project is scheduled to commence in the fourth quarter of 2024, with full operations expected by August 2025.
This innovative facility, designed to convert plastic feedstock into clean fuels through the process of pyrolysis, represents what we believe is a significant step towards addressing the global plastic waste crisis. Supported by the multiple agencies within the West Virginia State Government, including the Department of Economic Development and the Economic Development Authority, this project underscores West Virginia's commitment to sustainable innovation and economic growth.
Clean-Seas West Virginia's facility is expected to draw in plastic feedstock from across the Mid-Atlantic region and convert what might otherwise end up in landfills, incineration or our oceans into valuable, clean fuels. This facility is part of the Company's expanding Plastic Conversion Network ("PCN") portfolio of global plastic conversion projects, which includes current initiatives in India and Morocco.
According to industry Grand View Research, the global plastic pyrolysis market is projected to reach $2.7 billion by 2030, growing at a compound growth rate (CAGR) of 26.1% from 2024 to 2030. In the Company's view the rise in environmental awareness, along with increasing government regulations aimed at reducing plastic waste, is driving demand for sustainable technologies like those deployed by the Company.
"We are thrilled to partner with UPSIS, a leader in EPC services, to help bring our first US- based project to life," said Dan Bates, CEO of Clean Vision Corporation. "USPSIS' expertise and commitment to quality make them the ideal partner to help us achieve our goal of launching the West Virginia facility and developing our PCN into a global source for clean fuels and environmental responsibility."
Lonnie Jackson, Senior Project Director, echoed the sentiment, "UPSIS is proud to be part of this groundbreaking project with Clean-Seas West Virginia. This facility is a testament to the innovative solutions required to tackle the world's plastic pollution problem, and we are committed to delivering a project that meets the highest standards of safety and operational excellence."
As part of the EPC agreement, UPSIS will oversee the engineering and construction of the West Virginia facility located in Quincy, West Virginia, as well as obtain a Performance & Payment bond, aimed at ensuring the project's successful delivery. Current plans are for project financing to be led by a regional bank dedicated to supporting projects focused on the economic growth of West Virginia and sustainable development. We are currently planning for this a financing to be completed in October 2024, with groundbreaking for the facility upgrade shortly thereafter.
About Clean Vision Corporation:
Clean Vision is a public company that operates in the sustainable clean technology and green energy sectors. For more information, visit: www.cleanvisioncorp.com and follow us on Twitter, X: @CleanVisionCorp
About Clean-Seas, Inc.:
Clean-Seas, Inc., a wholly owned subsidiary of Clean Vision, is working to provide efficient and cost-effective technology solutions that address the global plastic crisis as creating economic opportunity and social benefit across the world. Clean-Seas' goal is to offer "best in class" pyrolysis technology deployment with strategic alliances for plastic diversion and conversion, including securing plastic feedstock and off-take agreements. For more information, visit: www.clean-seas.com.
About UPS Industrial Services:
UPS Industrial Services, LLC is a premier provider of engineering, procurement, and construction services, renowned for delivering high-quality, cost-effective solutions for industrial projects globally. With a strong commitment to safety and excellence, UPSIS is a trusted partner for complex, large-scale initiatives. For more information, visit: www.upsindustrial.com.
Cautionary Note Regarding Forward-Looking Statements:
This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and may contain projections of our future results of operations or of our financial information or state other forward-looking information. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, our ability to raise the capital needed to successfully complete the construction and launch of our facility in Quincy, West Virginia, which a successful closing cannot be guaranteed; statements regarding the expected amount of proceeds raised, and use of such proceeds; our ability to expand the PCN and establish plastic conversion facilities in various regions throughout the world; our ability to successfully identify and implement contracts with parties required to supply plastic feedstock for our PCN facilities; the ability of our counterparties to complete their contractually required obligations in a timely manner, or at all, including, but not limited to, the obligations of UPSIS under the EPC Agreement related to the West Virginia facility; statements about our ability to deploy the PCN and plastic conversion facilities on a global scale; statements about our future financial performance, including our estimated revenue generation, cash flows, costs of revenue and operating expenses; our anticipated growth; our predictions about our industry; our estimates with respect to expanding and meeting our projections for our facilities and on currently anticipated timelines; our ability to secure feedstock and offtake agreements sufficient to meet anticipated growth, revenue generation and project processing capabilities; and the impact of local and global regulations and laws that could impact our plans to establish and expand our PCN and plastic conversion facilities. The forward-looking statements contained in this press release are also subject to other risks and uncertainties. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
Contact
Clean Vision Corporation
Dan Bates, CEO
d.bates@cleanvisioncorp.com
Investors
Frank Benedetto
619-915-9422
SOURCE: Clean Vision Corporation
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