Clenergen Announces a Strategic Change in its Business Model to Become the Worldwide Supplier of Biomass Through Licensing Ag...
08 Septiembre 2011 - 8:02AM
Marketwired
Clenergen Corporation (OTCQB: CRGE)(FRANKFURT: 9CE) announced today
that that it has entered into a binding license agreement with
FUTENCO AG after three years of development of commercial projects
in the Philippines, Guyana, and Ghana, whereby Clenergen will be
licensing its intellectual property rights pertaining to plant
science and other exclusive third party exclusive technology
licenses. FUTENCOAG is committed to the development and execution
of renewable energy projects worldwide and distribution of biomass
feedstock worldwide. FUTENCO AG's has strategic alliances and
partnerships which allow them to develop and execute projects in
the most efficient manner in multiple venues throughout the world.
In addition, FUTENCO plans to float on the Boerse Frankfurt stock
market within the next 12 months.
Futenco strategic partners include CIYCOR, a worldwide renewable
energy and construction company, whose team has executed over $1.3
billion of contracts on behalf of the US Government and US Armed
Forces in addition to multiple other private contracts. CIYCOR
specializes in project financing solutions in order to execute
renewable energy contracts to both private clients and the US
government and is currently in the process of developing over 1000
MW of renewable energy projects across the world.
The license agreement will provide project financing for all of
Clenergen's projects in the Philippines, Guyana and Ghana and the
formation of a $30 million renewable energy fund, designated for
the cultivation of energy crop plantations throughout the emerging
markets. Clenergen will retain the rights to own a majority stake
in each of the projects and joint ventures formed within the
regions which are suitable for the cultivation of energy crops,
such Malaysia, Saipan, Guam, Brazil, Bahamas, Dominican Republic,
Haiti, Puerto Rico, Sri Lanka, Malaysia and Guatemala. Clenergen
will now fast track the development of the Clenergen brand
worldwide by making a paradigm shift in its business model by
becoming the worldwide supplier and distributor of biomass for use
as fuel conversion to electricity, Pyrolysis oil, and wood pellets
for both domestic use and export to co-fire with coal power plants
in Europe, USA, South Korea and Japan, in order to assist them in
lowering their carbon emission.
On the 5th September 2011, Clenergen agreed terms to sell
Clenergen India Private Limited to private Asian Investors, in
order to allow the Company to concentrate on the cultivation of
energy crops in India, under a new biomass subsidy program
introduced on August 8, 2011 by the Indian Union Government. The
Company has now chosen to decline other previous offers of
financing as announced in April 2011, along with the acquisition of
additional combustion steam power plants in India which was
announced in June 2011 and will focus on its core business model,
biomass feedstock production, sale and distribution.
Clenergen will now be the owner, repository and developer of all
intellectual property, technology licensing and acquirer of all
future technologies through acquisition, strategic alliances and
joint ventures. The company's primary income streams will be
through development fees, license fees and dividends from each and
every renewable energy project executed using Clenergen IP and
exclusive technology licenses. Subsequently the Board of Directors
will be restructured with David Sonnenberg, Sanil Kumar, Pamela
Peeters and Alex Worrall stepping down from the Board, with Mike
Starkie being appointed as Non Executive Chairman and Dr Arvind
Pandalai as a Non Executive Director of Clenergen Corporation.
Commenting on the change in direction, Mark Quinn, Chief
Executive Officer of Clenergen Corporation said "After 10 years of
research and development in the field of feedstock for renewable
energy, I strongly believe that our shareholders will receive high
returns from this strategic change in our business model. In India,
the company can now focus its core business which is the
cultivation, supply, sale and distribution of biomass feedstock to
produce renewable energy. This change allows many of our projects
that are in different stages of development around the world to be
fully funded, without incurring further equity dilution or debt at
the parent level. I strongly believe that this is the best business
model to enable Clenergen to grow its brand name throughout the
worldwide.
About Clenergen Corporation
Clenergen Corporation is a publicly-traded company with its
common stock quoted in the USA on the OTCQB Market (Symbol: CRGE)
and in Germany on the First Quotation Board, Open Market of the
Frankfurt Stock Exchange (Symbol : 9CE) Clenergen offers strategic
clean energy generation and supply of biomass feedstock to address
the requirement for renewable and sustainable supplies of
electricity. Clenergen has developed a unique modular system for
gasification and localized plantation management. Clenergen also
plans to provide biomass feedstock for producing wood pellets for
co firing with coal to produce low emission electricity.
Clenergen Corporation uses biomass feedstock to implement
sustainable supplies of clean energy for captive end users,
islands, mining companies, government or privately-owned power grid
systems and other end users. The "Distributed Environmental Power
System" marries significant proprietary advancements in plant
science with proven long standing engineering technologies to
achieve this goal. For further information on Clenergen Corporation
and its products and services, go to: www.clenergen.com.
Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 (the
"Securities Act") and Section 21E of the Securities Exchange Act of
1934 (the "Exchange Act"). To the extent that any statements made
in this press release contain information that is not historical,
these statements are essentially forward-looking. Forward-looking
statements can be identified by the use of words such as "expect,"
"plan," "will," "may," "anticipate," "believe," "should," "intend,"
"estimate," and variations of such words. Forward-looking
statements are subject to risks and uncertainties that cannot be
predicted or quantified and, consequently, actual results may
differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
without limitation, those risks and uncertainties contained in this
press release and those identified in the periodic reports that the
company files with the Securities and Exchange Commission (the
"SEC") pursuant to the Exchange Act.
Contacts: Clenergen Corporation investor@clenergen.com
www.clenergen.com
Charge Enterprises (PK) (USOTC:CRGE)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Charge Enterprises (PK) (USOTC:CRGE)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024