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.
Subscribe to Microcapdaily.com Right Now by entering your Email in the box below.
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
Daniel McCarthy
February 11, 2015 at 5:38 pm
There was a mistake on this article that has since been corrected. We incorrectly stated the stock ran to $7 and $10 a share in previous years. This is incorrect. The stock reached highs over $9 it looks like in 2004 and high $6’s in 2011.
The mistake happened because tha author looked at chart in haste
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=oncy&insttype=&freq=2&show=&time=20
Looks like the stock hit $10 and $7 but in fact, if you look at more advanced chart you can see it topped out just below those marks in both cases.
B Chin
February 15, 2015 at 12:00 pm
In addition to overstating the current market cap, the authors of this article appear to be unaware that the phase 3 study in Head & Neck is already finished. The company obtained statistically significant tumor response data and a near doubling of progression free survival in Head & Neck, but they reported that the full survival data was confounded because of doctors removing patients from the trial for fevers. Since a fever is a sign that a viral therapy is performing as intended, it is quite plausible that such removals could indeed confound the trial by eliminating the best responders. In the doctors’ defense, they were unaware which patients on trial were getting virus + chemotherapy (the test group) and which patients were getting chemotherapy alone (the control group). A fever in a patient getting chemotherapy alone is often a sign of a dangerous opportunistic infection in a patient with an immune system weakened by the chemotherapy, triggering hospital standard operating procedures to protect such patients.
The company has announced that any future trials will be open-label to avoid such problems. Luckily, the five ongoing randomized externally-sponsored clinical trials were already all open-label. Those trials are conducted and funded by the National Cancer Institute of the USA (ovarian) and the National Cancer Institute of Canada (lung, colorectal, prostate, and breast), so Reolysin has a number of chances to demonstrate signs of efficacy. The trials are each of moderate size (average about 100 patient each), but together they will generate a lot of data.
It is typical for shorts to publicly attack the company’s management. However, it should be noted that all of this upcoming randomized data is really independent of management, since all of these trials are owned and run by the NCI and NCIC. Should the data be good (and given the existing H&N PFS and tumor response results, efficacy in at least one of the five studies is quite plausible) then it is quite likely that a partnership or buyout will make such complaints even more irrelevant.
It is also worth mention that there appears to be a natural synergy between oncolytic viruses and the up-and-coming immune checkpoint inhibitor drugs, since oncolytic viruses tend to draw immune cells into the tumors.
Disclosure: I am an Oncolytics shareholder.
Disclaimer: New US investors in ONCY should consider making a timely QEF election with the IRS to deal with the apparent PFIC status of the company to head off harsh tax treatment of profits.