Clean Vision's Clean-Seas Sets JV to Develop a Waste Plastic-to-Energy PCN Plant in Puerto Rico; Company Expects the Plant to be Operational in 4Q-23, and at Current Commodity Prices, to Generate $70 Million in Gross Revenue at Full Capacity

LOS ANGELES, CA / ACCESSWIRE / April 6, 2022 / Clean Vision Corporation (OTCQB:CLNV) ("Clean Vision" or the "Company"), a holding company that acquires and operates sustainable clean tech and green energy businesses, today announced its wholly owned Clean-Seas, Inc. (C-S) subsidiary has established a joint venture to develop a commercial scale waste plastic-to-energy pyrolysis plant in the Commonwealth of Puerto Rico that will serve as a host facility for C-S' patent-pending Plastic Conversion Network (PCN). Clean-Seas in the past 30 days announced it had signed binding LOI's to develop similar plants in Sri Lanka and Morocco.

Foto: Accesswire

The JV has been set up with San Juan-based Main Line Ventures LLC. (MLV). Under the terms of the JV, C-S will provide lead project funding, the pyrolysis tech sub-contractor, and the expertise to develop and manage the project. MLV is responsible for securing legal representation, permitting and government/community relations. Both partners will secure feedstock and off-take agreements. Output is expected to include ultra-low sulfur diesel, electricity, char and/or C-S's branded AquaH^tm, clean hydrogen, the mix of which will be determined to meet local needs and maximize the project's economic ROI. At planned full capacity, and at current commodity prices, the PR pyrolysis plant is expected to process 500 tons/day in waste plastic generating total revenue of $70 million annually.

As planned, the facility will process local waste plastic, diverting it from the Island's landfills but will also secure sources of feedstock from neighboring islands as well as southern states of the United States.

"We do not expect any issues in securing sources of waste plastic to run this facility at full capacity 350 days a year," said John Yonce, Clean-Seas Director of Business Development. "Our ability to process the difficult to recycle types of plastic make this a unique opportunity for Puerto Rico and for the Material Recovery Facilities with whom we are currently speaking."

A US Territory, Puerto Rico is an island between the Caribbean Sea and the North Atlantic Ocean, east of the Dominican Republic. The Commonwealth, whose capital is San Juan, has a total population of 3.1 million, 93.6 percent of whom live in urban areas. According to the GlobalPressJournal.com, 18 of 29 Puerto Rican landfills do not meet EPA standards and the PR landfill capacity is projected to be exhausted in mid-2020s. Hurricane Maria struck the island on 20 September 2017 causing catastrophic damage, including destruction of the electrical grid that had been crippled by Hurricane Irma just two weeks before.