LAS VEGAS, NV — (Marketwire) — 06/06/12 — Cleantech Transit, Inc. (“Cleantech or the Company”) (OTCBB: CLNO) is pleased to announce its plan to build and operate additional power plants as a part of its business development strategy. The Company intends to continue to develop its relationship with its current partner, as well as source out new partnerships in the biomass area.
The market value of electricity generated from biomass in the United States is steadily increasing to $53 billion by 2020, up from approximately $45 billion in 2010, according to sustainable business news. Biomass power generation consumes more than 100 million tons/yr. of fuel, virtually all of which is waste or residue material that requires some form of treatment and disposal.
Cleantech Transit is currently in talks to acquire larger 1MW plants, which is double the size of its current 500KW plant located in Merced County. Through its existing partnerships the Company has access to several biomass plants ranging from 1MW to 2MW in size. Progressively adding additional plants will help the Company achieve a steady revenue stream, which can be reinvested in developing larger biomass facilities around the world.
In addition the Company is in talks with various groups to provide technical and operational assistance to help develop biomass facilities based on their business needs.
“As they say, where focus goes energy flows, and our strong commitment to building, implementing and operating the biomass power plants will give Cleantech the potential to develop into a significant player in the field of alternative energy,” said President and CEO of Cleantech Transit Inc. Kenneth Bosket.
The Company–s mandate is to create opportunities utilizing advances in technology and manufacturing processes in order to develop significant market share in the alternative clean energy sector. With the growth in green energy initiatives, the Company has expanded its focus to invest directly in specific projects that will maximize shareholder value. Recent advances in the technology of converting wood waste into power have greatly enhanced the economic value of the company–s systems. A Biomass division was launched led by Phoenix Energy to focus exclusively on generating greater returns for manufacturing clients worldwide. For more information please visit the Company–s website at .
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