Clean Vision’s Clean-Seas Signs Binding Terms Sheet to Expand PCN Plastic Waste-to-Energy Operations in Sri Lanka; The company expects the plant to be operational by the end of 2023, generating $70 million in annual gross revenue

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LOS ANGELES, Calif./ACCESSWIRE/April 1, 2022/ In a press release published under the same title on Wednesday, March 16and by Clean Vision Corporation (OTCQB:CLNV), a holding company that acquires and operates sustainable clean technology and green energy businesses, please note that the number in the header and the first sentence of the fifth paragraph referencing the projected annual gross income must be $70 million, not $195 million. The corrected version follows:

On March 16, 2022, Clean Vision Corporation announced its sole ownership of Clean-Seas. Inc (CS) has signed a binding term sheet with Arinma Holdings (AH), based in Columbo, Sri Lanka, to develop a commercial-scale waste-to-energy plastic pyrolysis plant to serve as a host facility in Asia du Sud for its patent pending Plastic Conversion Network (PCN).

Incorporated in 2008, Arinma Holdings is an infrastructure conglomerate, championing human-centered infrastructure that meets community aspirations for prosperity, social justice and sustainability. With over 1,000 employees, the company has completed more than 350 large, multi-faceted projects across Sri Lanka, and its subsidiaries have worked on projects in Oman, the United Arab Emirates, the Maldives and Bangladesh. Watch his 5-minute corporate video at: https://www.youtube.com/watch?v=PW4azWUuRoM.

Sri Lanka, formerly Ceylon, is an island country located in the Indian Ocean and separated from peninsular India by the Palk Strait. It has 23 million inhabitants and its capital is Columbo.

The agreement requires the parties to establish a new US company, Clean-Seas Sri Lanka, LLC (CSSL), which will comply with applicable US law and establish the necessary business entities in Sri Lanka, if Sri Lankan law -lankaise requires it, to function. Pending the conclusion of a definitive agreement, expected at 2Q-22, the binding term sheet outlines the roles and responsibilities of AH and CS.

Dan Bates, CEO of Clean Vision, said, “Based on current commodity prices, at 500 tons per day, this plant will generate approximately $70 million in total revenue per year. With Arinma as our world-class partner, I am optimistic that we will start by the end of the year and this host PCN plant will be operational by the end of 2023. I am delighted to welcome Arinma to the team Clean-Seas as we work together to alleviate the global plastic waste and climate change crises. “

Commenting on the deal, Arinma Chairman Ashan Malalasekera said: “Sri Lanka is an extraordinarily beautiful, tropical and tranquil country and as an island nation our ecology is far more fragile than most. However, we have our own plastic waste crisis. with little to no landfill capacity, so building a PCN plant that generates green energy in a sustainable way is exactly what Sri Lanka needs to assert its leadership position in the global development movement sustainable and reduce its dependence on carbon-based energy. a business with Clean-Seas with the potential to be productive and profitable.”

Picture below: Clean Vision CEO Dan Bates (seated right) in Columbo, Sri Lanka signs Arinma’s term sheet with its Chairman Ashan Malalasekera (seated left) with CS India Managing Director Venkat Kumar Tangirala (center, standing).

https://storage.googleapis.com/accesswire/media/695739/CSSL-NR-photo.jpg

About Arinma Holdings

As the world begins to address and understand the impacts and effects of climate change, it is evident that as an island nation, Sri Lanka is at very high risk of climate volatility. The country needs a strong climate risk mitigation strategy in the implementation of climate resilient infrastructure to manage these potential climate disasters.

In line with the 2020 United Nations Sustainable Development Goals, Arinma’s brand philosophy and vision is to be the leaders in water management in Sri Lanka, with a focus on the mitigation of climate risks and environmental engineering.

Arinma Holdings Group is the only company in Sri Lanka to offer full infrastructure lifecycle services under one hand. Our services include end-to-end project management and consulting; design engineering consultation; turnkey technical construction; heavy machinery and transportation solutions and telecommunications technology solutions. For more information visit: www.arinmaholdings.com/about-us/

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 plastic waste crisis and create economic opportunities and social benefits in emerging and developed economies around the world. Clean-Seas offers the deployment of “best in class” pyrolysis technology for the recycling of plastic waste into energy, including securing raw materials 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.

Safe Harbor Statement

This press release includes forward-looking statements, including statements relating to the CSSL plant being operational by the end of 2023 and generating $70 million in annual gross revenues, the conclusion of a definitive agreement in 2Q- 2022, construction by the end of the year and the host PCN plant operational by the end of the year 2023, and the company being productive and profitable. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors that could cause actual results to differ materially from the forward-looking statements, including the ability to have the plant operational d by the end of 2023, the ability to generate $70 million in gross revenue and the ability to enter into a definitive agreement when expected. These statements are based on, among other things, assumptions made by management and information currently available to it, including management’s knowledge and assessment of the Company’s industry and competition. The Company undertakes no obligation 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

THE SOURCE: Clean Vision Corporation

See the source version on accesswire.com:
https://www.accesswire.com/695739/CORRECTION–Clean-Visions-Clean-Seas-Signs-Binding-Term-Sheet-to-Expand-its-Waste-Plastic-to-Energy-PCN-Operations-into -Sri-Lanka-Company-expects-factory-to-be-operational-by-end-2023-generating-70-million-annual-gross-revenue

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