Clean Vision Corporation (OTCQB) has signed a memorandum of agreement between its Clean-Seas West Virginia subsidiary and the West Virginia Department of Economic Development.
This collaboration will leverage a $50 million total investment in a state-of-the-art manufacturing facility focused on converting plastic feedstock into precursors for recycled content plastics and clean fuels, including hydrogen.
Gov. Justice announced the agreement Wednesday, underscoring the state's ability to compete in the international market.
“I am excited to welcome Clean Vision to West Virginia,” Justice said. “Under the terms of the MoA, this project is expected to result in capital investments of at least $50 million over three years and create a minimum of 40 full-time employment opportunities.
"It’s yet another testament to West Virginia’s ability to compete on the world stage and attract world-class companies to our state.”
Clean Vision CEO Dan Bates celebrated West Virginia's efforts to move from energy production to clean-energy production.
"West Virginia has always been a globally recognized leader in energy. We're excited to help West Virginia lead in clean energy for the next century," Bates said.
"I would like to thank Gov. Justice, Secretary Carmichael, and their team for their vision in collaborating with Clean Vision on a project that reflects our shared commitment to deliver innovative solutions geared toward making a lasting and sustainable impact on the environment, while simultaneously contributing to West Virginia's economic growth and development."
Secretary Mitch Carmichael emphasized Clean Vision's commitment to clean energy.
"Clean Vision has demonstrated a clear commitment to leadership in the clean energy space, and we welcome them to the Mountain State with open arms,” Carmichael said. “We look forward to getting this project off the ground and running in high gear."
Upon completion of construction and commencement of operations, the facility, to be located in Quincy in eastern Kanawha County, will process plastic for conversion to clean energy at a rate of 100 tons per day, starting in 2024, with plans to scale up to 500 tons per day over time.
Bates referred to the state and the building site at Quincy, near Cedar Grove, as an ideal location for the facility.
"West Virginia will provide an ideal location as we continue to scale our Plastic Conversion Network domestically as well as globally," Bates concluded.
"The funding provision will allow us to leverage our own investments for a substantial jump in ROI on this facility. It's a tremendous opportunity for Clean Vision and all our stakeholders, as well as a wise investment for the residents of West Virginia. This project will bring jobs, investment, industry, and a new source of next-generation sustainable clean energy while removing harmful plastic from the environment."
West Virginia House of Delegates Roger Hanshaw referred to the plastics-conversion process as revolutionary and praised the state's ability to move quickly on economic development projects.
“I join the Governor, Secretary Carmichael, and others in welcoming Clean Vision, with its revolutionary technology, to West Virginia, where they will site their first facility,” Hanshew said. “West Virginia has mastered the art of moving at the speed of business, and we’re reaping the rewards with companies like Clean Vision taking notice that we’re the best place to locate and expand a business.”
Senate President Craig Blair noted that West Virginia was chosen as the first location for such a facility.
“I am thrilled to welcome Clean Vision to West Virginia and am so excited they have chosen West Virginia for the first United States location of a Clean-Seas facility,” Blair said.
“The Legislature has worked to show the world that West Virginia is an all-of-the-above energy state, and investments like this one prove that our message is spreading. I look forward to all of the great things this facility will create both in West Virginia and across the world.”
West Virginia House of Delegates member Daniel Linville (R-Cabell) underscored the Republican party's efforts to bring jobs to the Mountain State.
“I'm excited to see another company choosing West Virginia, but I'm most excited for the hundreds of lives that will be positively impacted by these jobs,” Linville said.
“We're all benefiting from the historic growth in our economy with Republican control of the state’s finances. And we're not finished; we're just getting started.”
Clean Vision is a public company that operates and is intending to acquire and operate a portfolio of synergistic companies in the sustainable clean technology and green energy sectors. For more information, visit online and follow us on Twitter.
Clean-Seas, Inc. is a wholly-owned subsidiary of Clean Vision. It is working to provide efficient and cost-effective technology solutions that locally address the global plastic crisis as creating economic opportunity and social benefit across the world.
Clean-Seas plans to work towards offering "best in class" pyrolysis technology deployment with strategic alliances for plastic diversion and conversion, including securing feedstock of plastic and off-take agreements. For more information, visit Clean Seas online.