LOS ANGELES, CA / ACCESSWIRE / October 21, 2021 / Clean Vision Corporation (OTC PINK:CLNV), a global holding company that acquires and operates sustainable clean tech and green energy businesses, today announced that it has signed a Memorandum of Understanding (MOU) with the CSIR-Indian Institute of Chemical Technology (IICT) which falls under the aegis of the Council of Scientific and Industrial Research (CSIR). The agreement was executed by Clean-Seas, Inc.'s wholly owned subsidiary, Clean-Seas India, Pvt. Ltd.
CSIR-IICT is one of India's premier Research and Development institutions which focuses on the development of advanced, sustainable and affordable technologies in chemical sciences and technology for the improvement of human welfare and is geared to meet the requirement of transfer of technology, commercialization and scalability. Under the terms of the agreement, Clean-Seas and CSIR-IICT will work together to bring Clean-Seas' plastic conversion technology to India to help mitigate its growing waste streams and convert this waste into valuable, environmentally friendly commodities. The joint initiative will accelerate not only the development of new technologies, but also their deployment into the Indian marketplace. CSIR-IICT has selected Clean-Seas as its technology partner to jump start its efforts to find socially conscious and financially successful ways of improving the environment through new technology deployment.
Under the terms of the MOU, the companies shall embark on the pilot project over the course of the coming year, with feedstock to be delivered to Clean-Seas through CSIR-IICT's existing commercial relationships in Hyderabad, India. The plastic waste streams will be converted into low sulfur fuels which will be sold into the marketplace. Further, the pilot will generate clean electricity which will then be used as a means of generating clean hydrogen, contributing to Prime Minister Modi's national effort to make India a global leader in hydrogen production called the "hydrogen moonshot."
"As a part of our mission at CSIR-IICT to improve the welfare of the people of India, we see the waste-plastic problem as not only a problem in India, but also a global problem, and we seek to find solutions for all mankind," said Dr. Chandrasekhar, Director, CSIR-IICT. "The Clean-Seas solution is a very promising one which we feel is a vast improvement over current technologies and will go a long way towards addressing this global crisis."
The project will begin at CSIR-IICT, Hyderabad, with Clean-Seas waste conversion system technology, construction, operations and finance expertise. CSIR-IICT will be the knowledge partner to customize the technology to Indian conditions and also secure feedstock and off-take agreements from their existing commercial relationships, making the project economically viable. Upon successfully reaching agreed upon milestones for the conversion of plastic waste, the project will be available for commercialization at scale, throughout India.
"This partnership further proves that Clean-Seas' vision of converting plastic waste into high-value products is not only timely, but also can be an essential driver towards Prime Minister Modi's countrywide energy and environmental goals. Having an esteemed institution like CSIR-IICT select Clean-Seas as their partner can drive the Clean-Seas technology development and deployment into this vast market. We are honored to be working with all the talented scientists at CSIR-IICT to create new partnerships to solve the plastic problem," said Dan Bates, CEO of Clean Vision.
In addition to the Clean-Seas pyrolysis technology, the Company will also be introducing a cost-effective fuel cell technology to CSIR-IICT, enabling the project to complete the value chain from conversion of waste to the generation and use of the hydrogen output. "Clean-Seas brought us a complete and unified vision that seamlessly fits within our directive and the new initiative set forth by our Hon'ble PM. Rarely do we see a company with such clear technological, scientific and commercial goals as that of Clean-Seas, which can seamlessly integrate with CSIR-IICT's existing assets to fast-track achievement of core goals immediately and try to reach the lofty goal of one kg of Hydrogen costing one dollar within one decade which IICT and Clean-Seas shall work together in achieving," said Dr. D. Shailaja, Chief Scientist and Chair, Business Development & Research Management.
The project is currently in the planning stage and the collaboration partners seek to have it operational in Q1 of 2022.
About Clean Vision Corporation
Clean Vision is a public company that acquires and operates a portfolio of synergistic companies in the sustainable clean technology and green energy sectors. For more information, visit: cleanvisioncorp.com.
About Clean-Seas, Inc.
Clean-Seas, Inc. is a wholly owned subsidiary of Clean Vision. It provides efficient and cost-effective technology solutions that address the global waste plastic crisis as well as creating economic opportunity and social benefit in emerging and developed economies across the world. Clean-Seas offers "best in class" pyrolysis technology deployment for plastic waste-to-energy recycling, including securing feedstock and off-take agreements. For more information, visit: clean-seas.com/.
About IICT
CSIR-Indian Institute of Chemical Technology (CSIR-IICT), Hyderabad was established in 1944, as a constituent laboratory of Council of Scientific and Industrial Research (CSIR), Government of India. Since its inception, CSIR-IICT focused on the development of advanced, sustainable and affordable technologies. It is internationally recognized for its contributions to chemistry & chemical technology and is an ideal place for taking ideas to commercialization through state-of-the-art research and development.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company assumes no duty to update its forward-looking statements.
Contact
Clean Vision Corporation
Dan Bates, CEO
d.bates@cleanvisioncorp.com
Investors
Frank Benedetto
619-915-9422
Twitter: @CleanVisionCorp
SOURCE: Clean Vision Corporation
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