LOS ANGELES, CA / ACCESSWIRE / November 21, 2022 / Clean Vision Corporation (OTCQB:CLNV) announced today that its wholly owned subsidiary, Clean-Seas, Inc., has signed letters of intent with MacVallee LLC. Build a co-located clean seas facility in central Massachusetts that will divert post-industrial and seaborne plastics from landfill and incineration and convert them into precursors for virgin plastics, ultra-low sulfur fuels, pyrolysis oils and clean seas becomes. Seas branded hydrogen, AquaH™.
MacVallee purchased the site earlier this year and will build its own supplemental recycling facility at the site, with revenue expected to begin in the first quarter of 2023. MacVallee will source plastic raw materials for both plants under an agreement with Evolve Resource Management of Argyle, NY (“WRM”).
“Our combined efforts will ensure that every piece of plastic waste at a site finds a meaningful use,” said Daniel McLaughlin, President of MacVallee. “We are excited about the partnership with Clean-Seas.”
MacVallee will rely on existing relationships in the US to ensure a consistent supply of plastic raw materials for its facility and neighboring Clean-Seas facility. In Phase One, Clean-Seas plans to process 50 tons per day (TPD) with the expectation of expanding the facility in subsequent phases and ultimately diverting up to 500 TPD of plastic waste from landfill and incineration.
“Partnering with Clean-Seas is important to us,” said Jessica Cocozziello, member of the MacVallee team and vice president of operations at ERM’s Adirondack Plastics & Recycling in Argyle, NY. (Adirondack has over 30 years of experience as a leading regional plastics recycler and was acquired by ERM in 2019.) “Not only do they share our vision of keeping plastics from the ocean out of landfills, they also allow us to find productive uses for all of our raw materials . We ship millions of pounds of plastic to our facility in upstate New York each year, so a partnership in central Massachusetts will help reduce carbon emissions.”
Clean-Seas will use its relationships to secure the capital and technology to build the facilities.
“This is a great opportunity for Clean-Seas to partner with a company whose management has deep roots in the recycling industry and who also shares our commitment to sustainability and innovation,” said John Yonce, vice president of business development at Clean-Seas. “This partnership will bring significant economies of scale to the operations of both companies.”
Phase One of the Clean Seas facility is budgeted at US$20 million with expected financing from equity and project debt to support projected first year revenues of US$7 million. Operations will begin at MacVallee’s 24-acre site in central Massachusetts, which is adjacent to a railroad track to efficiently deliver plastic waste and ship finished products. Additional sources of funding for the project may include Massachusetts Commonwealth and federal incentives and grants available through the Biden Administration’s Inflation Reduction Act.
The MacVallee LOI is Clean-Seas’ second planned facility in the United States, after the company announced a letter of intent in Arizona earlier this month. The Clean Seas facility in Massachusetts is scheduled to begin operations in early 2024.
About Clean Vision Corporation
Clean Vision is a public company that operates and aims to acquire and operate a portfolio of synergistic companies in the areas of sustainable clean technology and green energy. For more information, visit: cleanvisioncorp.com and follow us on Twitter: @CleanVisionCorp
About Clean Seas, Inc.
Clean-Seas, Inc. is a wholly owned subsidiary of Clean Vision. It works to provide efficient and cost-effective technology solutions that address the global plastic waste crisis locally by creating economic opportunity and social benefits around the world. Clean-Seas plans to work with strategic plastics diversion and conversion alliances, including plastic feedstock security and offtake agreements, to offer deployment of “best-in-class” pyrolysis technology. For more information, visit: clean-seas.com.
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Clean Vision Corporation
Dan Bates, CEO [email protected]
Frank Benedetto 619-915-9422
SOURCE: Clean Vision Corporation
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