LOS ANGELES, CA / ACCESSWIRE / November 30, 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, pursuant to its Clean-Seas subsidiary's purchase of a waste plastic-to-energy pyrolysis plant to showcase its technology in India announced November 16, it is poised to enter the $125 billion hydrogen generation marketplace which analysts project increasing to $184 billion by 2028.
The Company's purchase and shipment of its 2.5 ton/day pyrolysis plant follows its MOU signed in October with the Council of Scientific and Industrial Research (CSIR)-Indian Institute of Chemical Technology (IICT) providing for both parties to work together to bring Clean-Seas' waste plastic-to-energy conversion technology to India to help mitigate its growing waste streams and provide clean energy as a part of the $1 trillion renewable energy infrastructure plan already being implemented by the Indian government.
Clean-Seas, along with its technology partners, is developing improved methods of converting mixed plastic waste to efficiently produce hydrogen and store it with state-of-the-art fuel cell technology further enhancing the project's economics. The Clean-Seas pyrolysis plant is being retrofitted in California accordingly and readied for shipment to Hyderabad for a Q1 2022 installation. When operational, the plant will produce the Company's brand of clean hydrogen called "AquaH™" that is generated from a waste stream which falls between green and blue hydrogen as explained in this link.
The pilot plant will showcase the Company's technology and economics; with the support of IICT it expects to subsequently install numerous large-scale plants throughout India. In 2020, Asia Pacific accounted for the largest revenue share of hydrogen generation with over 35%, and the trend is expected to continue till 2028 led by China, Japan, South Korea, India, and Australia.
"The goal of generating hydrogen with a minimal carbon-output process is in contrast to methods such as using coal-based electricity," said Dan Bates, Clean Vision Chief Executive Officer. "The world is moving to clean hydrogen generation, and we are confident that converting plastic waste streams into energy (including low-sulfur diesel) as well as hydrogen increases our value proposition several times over. We will be using our Hyderabad pilot plant to demonstrate our technology to government and private sector officials from around the world."
In their July 15 report, "Hydrogen Investment Pipeline Grows to $500 Billion in Response to Government Commitments to Deep Decarbonization," the Hydrogen Council and McKinsey & Company state 359 large-scale hydrogen generation capital projects have been announced globally, up 131 in the first half of 2021.
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 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.
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.
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.
Clean Vision Corporation
Dan Bates, CEO
SOURCE: Clean Vision Corporation