LAS VEGAS, NV — (Marketwire) — 04/23/12 — Cleantech Transit, Inc. (“Cleantech or the Company”) (OTCBB: CLNO) is pleased to report that the 500 KW biomass facility located in Merced County, California has successfully completed its initial air quality inspection and is moving toward commencing commercial operations. The plant is currently connected to the electricity grid under California–s feed — in tariff with a 15-year power purchase agreement.
The Company has been continuing its efforts to develop an environmentally friendly asset base in the green sector, and with that objective in mind is pleased to announce it–s working toward further expanding its stake in the Merced facility. Cleantech is in the final stages of increasing its ownership interest from 25% to 40% in the biomass facility. Based on initial testing the Merced plant has surpassed its 500 KW production capacity and reached a maximum output of 640 KW, outperforming its original rated output by 28 percent.
The Company intends to provide further details on this project as well as other future corporate developments in the near term.
President and CEO of Cleantech Transit, Inc. Kenneth Bosket commented, “We are delighted that the Merced facility is moving toward commercial operations, and look forward to realizing the value created by converting local biomass into energy and more importantly creating jobs for the local community.”
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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