Clean Vision’s Clean-Seas Enters Into Joint Venture Agreement for Fourth U.S. Project; Partners with NuWay Go Recycle Center for $20M Michigan Facility
LOS ANGELES, CA / ACCESSWIRE / January 17, 2023 / Clean Vision Corporation (OTCQB:CLNV), today announced that its wholly owned subsidiary, Clean-Seas, Inc. ("C-S"), has entered into a joint venture agreement with Western Michigan-based NuWay Go Recycle Center LLC ("NWG") to establish Clean-Seas Newaygo ("CSN").
The announcement follows Michigan's December 23rd recognition of pyrolysis as an approved manufacturing process, creating a clear permitting pathway for the project.
Headquartered in Newaygo County, NWG is a new venture of American Classic, a fixture in Western Michigan construction, building supply, and commercial and residential waste management since 2001. American Classic's 2022 acquisition of Cart Right recycling deepened their united commitment to responsible, innovative waste handling throughout Michigan, and ensures a consistent supply of plastic feedstock to the CSN facility.
In separate votes last month, the Newaygo City Council and the Newaygo City Planning Commission both approved plans to develop the facility, which will divert post-industrial and post-consumer waste plastic from landfill and incineration, and convert it through pyrolysis into precursors for new plastics, ultra-low sulfur fuels and oils, and Clean-Seas' branded hydrogen, AquaH™.
Under the terms of the joint venture agreement, CSN will co-locate at American Classic's recently acquired 313 W. State Road facility in the City of Newaygo. American Classic has committed to supplying the necessary feedstock for CSN operations. The parties will work collectively to secure additional permits and approvals. Clean-Seas will use its relationships and expertise to secure capital and technology to establish the facility, which is expected to begin operations in late 2023 or early 2024.
In its Phase I, CSN projects processing 50 tons per day (tpd) with the expectation to expand the facility in subsequent phases, eventually diverting up to 500 tpd of waste plastic from landfill.
Pictured below: American Classic's 45,000 sq. ft. facility, with rail spur
"This is an exciting opportunity for Clean-Seas to partner with American Classic and the Thompson family who have built a formidable presence in Michigan and intimately understand the recycling industry and local regulatory environment," said Chris Galazzi, vice president of business development for Clean-Seas. "This partnership, combining local expertise with Clean-Seas resources is a model for our work throughout the United States."
Phase I of the project is currently budgeted at $20 million with currently anticipated funding from debt and equity. Once established, operations are expected to begin in American Classic's 45,000 sq. ft. facility which sits adjacent to a rail line for easy off-loading of waste plastic and pickup of CSN converted commodity products. In addition to anticipated debt and equity funding for the project, additional sources of funding may include Michigan State incentives and grants which are available through the Biden Administration's Inflation Reduction Act (IRA).
"The plastic pollution problem is a global issue but we wanted to do something about it in our own backyard," said Leon Thompson, founder of American Classic. "Meeting the guys at Clean-Seas and understanding their vision for addressing the world's plastic problem with local solutions makes perfect sense. We are proud to be partners on this journey; it's good for our community, Western Michigan and will set a terrific example for our industry."
Clean-Seas Newaygo joins previously announced Clean-Seas U.S. projects in Arizona (Arizona State University and the Walton Sustainability Solution Services), Massachusetts (MacVallee LLC), and Puerto Rico (Main Line Ventures LLC).
About Clean Vision Corporation
Clean Vision Corporation operates and intends to acquire and operate a portfolio of synergistic companies in the sustainable clean technology and green energy sectors. For more information, visit: cleanvisioncorp.com and follow us on Twitter: @CleanVisionCorp
About Clean-Seas, Inc.
Clean-Seas, Inc. is a wholly owned subsidiary of Clean Vision. It is working to provide efficient and cost-effective technology solutions that address locally the global waste plastic crisis as creating economic opportunity and social benefit across the world. Clean-Seas plans to work towards offering "best in class" pyrolysis technology deployment with strategic alliances for plastic diversion and conversion, including securing feedstock of plastic and off-take agreements. For more information, visit: clean-seas.com.
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Clean Vision Corporation
Dan Bates, CEO
Frank Benedetto 619-915-9422
SOURCE: Clean Vision Corporation
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