Clean Vision Corporation (OTC: CLNV) has experienced several interesting developments recently, but it hasn’t noticeably influenced the market with any substantial gains. Nonetheless, we believe it’s worth providing an update on the company given it’s been a few months since our last mention. In today’s discussion, we’ll explore a variety of updates and their significance, with aim of providing insight on what to expect for 2024.
Background:
Clean Vision is led by Dan Bates, and their goal is to tackle the global plastic waste crisis head-on. Their wholly owned subsidiary, Clean Seas, has developed the Plastic Conversion Network (PCN), a groundbreaking technology aimed at diverting millions of tons of waste plastic from landfills, incineration, and oceans. The PCN converts this plastic feedstock into clean fuels and green hydrogen, significantly reducing reliance on fossil fuels and lowering the carbon footprint.
For a brief 2 minute overview on the company, feel free to reference the video CLNV’s subsidiary put together on YouTube. Here’s the link.
Clean Seas utilizes proven pyrolysis technology to produce environmentally friendly products, which are sold to multinational petrochemical companies, driving the circular plastic economy. Operational PCN facilities are already in place in Morocco and India, with additional conversion facilities in development across West Virginia, Arizona, and Southeast Asia. Long-term feedstock supply agreements exceeding one million tons of waste plastic annually have been secured at no cost.
Their recently trademarked brand, AquaH®, is produced in their PCN. According to the release, it offers a differentiated green hydrogen product from carbon-neutral sources. Currently, hydrogen is predominantly produced through methods that involve fossil fuels, which of course contributes to global carbon emissions. Furthermore according to Deloitte’s 2023 global green hydrogen outlook, this could be a $1.4T annual market by 2050.
$65 Million Plastic Conversion Facility:
CLNV is making big moves in West Virginia and according to the release on October 24th, 2023, they’ve brought in some serious players—CDI Engineering Solutions and ERM—to help out with their Clean-Seas West Virginia project.
CDI has over 70 years of experience integrating engineering, design, project support, procurement and construction management services to the energy, chemicals and electrical infrastructure markets.
ERM is the world’s largest advisory firm focused solely on sustainability, offering environmental, health, safety, risk and social expertise for more than 50 years with more than 8,500 dedicated professionals operating across 40 countries.
The plan is to kick things off in 2024, turning 100 tons of plastic every day into recycled plastics and clean fuels. It’s a hefty project with a $65 million investment, creating over 200 jobs initially. And they’re not stopping there—they want to scale up to 500 tons of plastic per day over time.
West Virginia Governor Jim Justice is also on board, throwing over $12 million in state incentives to support the project.
Governor Jim Justice made a reference to Clean Seas in his state of the union address. If you want to catch the mention, go to 34:15 in the video. The three minutes leading up to it are also worth reviewing.
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Launches Global Operations:
CLNV made another significant advancement, planning to launch waste plastic conversion facilities in the European Union, Eastern Europe, and Southeast Asia. This will be accomplished through their new subsidiary, Clean-Seas Partners UK Limited (CS-UK), who of course shares the same vision of creating sustainable solutions to the global plastic pollution crisis.
Under the leadership of Managing Director Shaun Wootton, CS-UK will play a crucial role in strategic project development and investment facilitation, leveraging established relationships in the Middle East, Southeast Asia, and Europe.
To fortify effective governance and strategic direction, CS-UK is assembling a distinguished board with internationally recognized figures in banking, sustainability, and energy. This approach aims to have a diverse and experienced board guiding CS-UK in realizing its vision of promoting sustainability and environmental stewardship across diverse regions.
$340 Million Bond Offering:
CLNV even announced they partnered with a global advisory firm, Grant Thornton, to issue up to $340 million in Green Bonds. This is the world’s sixth-largest network of independent accounting and consulting firms, employing 62,000 people in more than 130 countries and had revenues of $6.6 billion in 2021. These bonds will fund the expansion of Clean Vision’s Plastic Conversion Network (PCN) under the “Clean-Seas” initiative worldwide, aimed at combatting plastic pollution on a global scale.
With the Green Bond’s net proceeds, CLNV plans to deploy at least six plastic waste conversion lines globally, with strategic locations in West Virginia, Arizona, Southeast Asia, and expansion in Morocco. The Green Bond is also expected to attract environmentally conscious investors, setting a new standard for corporate responsibility.
$15M Government Loan:
Lastly, under the capable management of Huntington Bank, CLNV has recently secured a $15 million government loan. What sets this apart is that the loan is FORGIVABLE.
A forgivable loan is a type of loan where the borrower is not required to repay the borrowed amount under certain conditions. Typically, these conditions are related to the borrower meeting specific criteria, such as using the funds for approved purposes, maintaining certain employment levels, or achieving predetermined goals. If the borrower fulfills these conditions, the loan is forgiven, and they are not obligated to repay the borrowed amount. Forgivable loans are often used as an incentive or support for specific activities, such as job creation, small business development, or other initiatives that contribute to economic growth or community welfare.
Not to mention it won’t result in any dilution for shareholders. This is an unexpected and uncommon accomplishment for an OTC company. Securing a government loan of this size without any dilution is truly impressive.
Conclusion:
CLNV has made impressive strides tackling the global plastic waste crisis, especially given their valuation of merely $22.65 million. The team has swiftly achieved key objectives, including a $65 million plastic conversion facility in West Virginia, global expansion through Clean-Seas Partners UK Limited, a $340 million Green Bond Offering, and a remarkable $15 million forgivable government loan. The vast $1.4 trillion market they’re tapping into offers an interesting opportunity with current indicators looking positive. Nevertheless, it’s crucial to acknowledge that there is still significant work ahead, and the team needs to maintain consistent execution to turn this potential into a reality.
We will update you on CLNV when more details emerge, subscribe to Microcapdaily to follow along!
Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.
Picture by pasja1000 from Pixabay
Scienitst
December 15, 2014 at 5:02 pm
The need to immediately legalize Marijuana nationally is one of the most pressing moral issues of our time.
More and more present and former members of law enforcement agree, and have formed a rapidly expanding group of current and former police officers, FBI, DEA, and customs agents, and prosecutors, from all over the world, called LEAP — Law Enforcement Against Prohibition.
Like the majority of Americans, I strongly support the immediate, complete legalization of Marijuana.
But as a Scientist with a strong interest in Cancer research, I feel even more strongly about the need for its immediate legalization of it for Medical use, and the need to ensure that no Cancer patient is denied it, because I’m so impressed with its benefits for Cancer patients.
I urge everyone reading this to PLEASE call and email the Attorney General, the press, Congress and the President today.
Medical Marijuana not only helps with Cancer therapy, seizures, PTSD and chronic pain, but has helped countless Americans, including countless veterans, stop using Alcohol, and hard drugs, both legal and illegal ones.
Every minute an American dies of Cancer.
Every 19 minutes an American dies of a prescription drug overdose.
Many vets become addicted to prescription opiates and die from them.
NOBODY has ever died from smoking too much pot.
Cancer patients are seeing remarkable results using high dose Medical Marijuana oil, in many cases achieving complete remission, even for stage 4 cancers, and every Cancer patient that uses Marijuana to ease their suffering benefits greatly from doing so.
It is immoral to leave Marijuana illegal, for anyone, for even a second longer.
For Cancer patients, its a matter of life and death.
Cancer patients can’t wait.
Medical Marijuana has an unmatched safety profile, and for people who suffer from so many diseases of so many kinds its a medical miracle, and the scientific evidence behind it is rock solid.
For example, Medical Marijuana encourages apoptosis and autophagy of Cancer cells, while leaving normal cells untouched, is anti-angigogenic, anti-proliferative, and is anti-angiogenic.
Its also synergistic with chemotherapy and radiation therapy, making both more effective.
For many Cancer patients its meant the difference between life and death.
For everyone else, its a far safe alternative to Alcohol, and infinitely safer than Cigarettes.
Either take them off the market too, or legalize Marijuana right now.
2016 is too far away, Its too long to wait. Every year we lose more Americans to Cancer than died in WWII.
Between now and the 2016 elections, roughly 1 MILLION Americans will die of Cancer.
And Its a horrible way to die.
James
December 16, 2014 at 8:23 am
CEN in September put a press release out showing the Town of Lakeshore knew of the intentions and making claim the company did have the correct zoning. They went so far as to include the minutes from the town council meeting and highlighting the relevant sections in yellow highlighter.
The company is correct but like many things, the devil is in the details. The company failed to mention that yes, they were in an Agricultural Zone but that zone also was zoned as Value Added. In short, this meant that crops grown on that site could have small amounts processed on site but they would be limited to 6000 square feet and five employees per shift.
Of course investors, protecting their interests continued to twist the truth by stating that Health Canada does not allow for processing of medical marijuana and they are correct but again, the devil is n the details. Under the Value Added definition, packaging also is included so because CEN would be packaging and shipping to patients, they were caught under the Value Added clause. To get relief from these restrictions the company would have to file an zoning amendment application. Part of the process of the application is to engage affected residents and the town in a dialogue of negotiation and understanding as the process of building takes place.
For example, the company would have to over a two week period, contact all residents and others affected within a defined distance from the facility (WHICH THEY DID NOT DO) as well as provide to the town a detailed plan not only of the activities on that site, but what utilities would be required in terms of water, sewage, gas, electrical (WHICH THEY DID NOT DO) in order for the town to determine if those activities could even take place.
In short the company informed the town of their intent but failed to take the steps necessary to determine if those activities would be possible on that site. There is a difference between having the correct zoning (WITH RESTRICTIONS IN THIS CASE) and their existing the infrastructure to support the activities.
Throughout the winter and spring and into summer the company Facebook page would tolerate no discussion on the zoning issue stating only that it had all municipal approvals. CEN quietly submitted a zoning amendment application to the town recognizing their need to do so. Two previous attempts by Bill’s cousin Jim, who receives monthly lease payments from the company failed to change the zoning to accommodate two different businesses on that same site. Despite the fact town and country officials were at the press conferences for both Jim’s movie studio and Bill’s largest medical mj facility in the world, issues remained blocking the progress. The town acknowledged receiving the zoning amendment application but noted it was deficient and was not considered.
So rather than engage the nearby residents and the town prior to the construction or at least during the construction of the second building which is classed as a pole barn on the building permits filed by Bills cousin Jim, they completed the structure with zero input from nearby residents.
There was no official engagement of the residents the way there would have been HAD THE COMPANY FILED THE ZONING AMENDMENT APPLICATION BACK IN DECEMBER OF 2013 OR EARLY 2014 NOR WITH THE TOWN IN ORDER TO FACILITATE THE TOWN DETERMINING IF THEIR NEEDS COULD BE MET UTILITY WISE.
It seems a bit of a twist on Field of Dreams – if we build it, they have to approve us. Oh yes, legal non-conforming. That might work, might, if they get the license from HC prior to the zoning amendments referenced in your story coming into force which may be announced by Essex County. Had the company filed the zoning amendment application back when they knew they would have to, a lot of this mess could have been avoided and the picture much clearer.
Art
December 16, 2014 at 9:32 am
“FITX announced on November 19 their intention to Spin Off Canadian Wholly-Owned Subsidiary, CEN Biotech Inc. as well as the resignation of the entire board of directors. They announced Mr. James Robinson, a noted entrepreneur in the dietary nutrition space as the new CEO and said they plan to focus on Nutrition.”
Did you purposely leave out the fact that the ‘entire board of directors’ that resigned from the nutritional division are now the board of directors of CEN Biotech, the marijuana division? Just wondering.
Alex Ryan
December 16, 2014 at 10:02 am
Thanks for the excellent information James. Art there was no intenetion to leave anything out. I have updated the article to the effect that ” ‘entire board of directors’ that resigned from the nutritional division are now the board of directors of CEN Biotech”
We write about a lot of stocks and always want to provide the best information possible. I will certainly try to incorporate the information that James has shared and anything anyone else would care to share on FITX in our next article on the Company.
Post any info on FITX here.
Ralph E.
December 16, 2014 at 10:46 am
You Mention that FITX has never traded on the fundamentals. The reason is that when some one looks at the fundamentals they see a company that has a Board of Directors Like no other, with world recognized leaders in Medicine, and Global Finance. A company that is positioning itself to be the leader in many industries that support the Legal Cannabis industry, as well as that industry itself.
The current valuation is many times less then the company’s true value, making it a must buy for anyone who understands the importance of Value.
A Fundamentals trader would not trade in this, they would Invest. This is a Long Hold for anyone who recognizes that FITX, and The Spin-off, Cen Biotech is poised to be at the leading edge of this whole new industry.