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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): June 26,
2023
Clean
Vision Corporation
(Exact
name of registrant as specified in its charter)
| Nevada |
|
024-11501 |
|
85-1449444 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission
File Number) |
|
(I.R.S. Employer
Identification No.) |
2711
N. Sepulveda Blvd. Suite
1051
Manhattan
Beach, CA
90266
(Address
of Principal Executive Offices) (Zip Code)
(424)
835-1845
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
| ☐ |
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
|
| ☐ |
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
|
| ☐ |
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
|
| ☐ |
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange
on
which registered |
| N/A |
|
N/A |
|
N/A |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 9.01 Other Events.
On June 26, 2023, Clean Vision
Corporation (the “Company”) issued a press release titled “Clean Vision CEO Issues Mid-Year 2023 Letter to Shareholders.”
A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
| |
CLEAN VISION CORPORATION |
| |
|
| Date: June 29, 2023 |
By: |
/s/
Daniel Bates |
| |
Name: |
Daniel Bates |
| |
Title: |
Chief Executive Officer |
Clean Vision CEO
Issues Mid-Year 2023 Letter to Shareholders
| · | Company
reaches major revenue and operational inflection point |
| · | Operations
and revenue ramp-up underway for Q3-Q4 2023, to accelerate throughout 2024 |
| · | Target
of $5.7 million in 2023 gross revenue |
| · | Clean-Seas
Morocco operational and generating revenue |
| · | New
US-based projects announced in West Virginia and Arizona |
| · | AquaH™
plastic to hydrogen technology development progressing |
Los Angeles, CA – June 26, 2023
– Clean Vision Corporation (the “Company” or “Clean Vision”), parent company of its wholly owned subsidiaries,
Clean-Seas, Inc. (“C-S” or “Clean Seas” and “EcoCell”), today issued the following letter from its
Chairman and Chief Executive Officer, Dan Bates.
Dear Clean Vision Shareholders,
The first half of 2023 reflects the business
traction we have achieved through three years of hard work establishing the Company’s foundation, and we expect this progress to
continue and expand. This diligent effort has brought us to an inflection point, where we no longer see our Company as a scrappy start-up,
trying to find our way in the world of sustainability. We are now moving Clean Vision to a position of solid business fundamentals with
a focus on attacking global waste plastic issues and revenue generation as is discussed below. In doing so, the Company is being recognized
for its work with new deal flow and business opportunities.
Clean-Seas, our wholly owned subsidiary
that is helping to solve the world’s plastic waste problem, has spent the better part of the past three years working the challenges
and the related business opportunities created by China’s National Sword (“National Sword”) policy implemented on January
1, 2018. National Sword banned the importation of many recyclables, including waste plastics, and other
nations followed suit, resulting in a build-up of waste plastics throughout the world. This precipitated a global crisis, whereby
developed countries no longer had an inexpensive or convenient outlet for their recyclable material.
In establishing the patent-pending Plastic
Conversion Network (“PCN”), Clean-Seas has created an opportunity to relieve the pressure presented by National Sword on
the world’s waste plastic problems. We have leveraged pre-existing relationships and developed many more, both domestically and
internationally, in order to stand up what we believe will be a game-changing business, focused on plastic pollution. We have established
relationships with preferred pyrolysis technology vendors and feedstock suppliers across the globe, and I firmly believe that we now
have all the pieces in place to provide a valuable service to countries, states, municipalities, corporations, and multinational petrochemical
companies.
And this belief is being recognized.
The Tipping Point – Clean-Seas
Our facility in Hyderabad, India, in association
with the Indian Institute of Chemical Technology (“IICT”), is working on perfecting a process for converting plastic feedstock
into clean hydrogen. The visibility of this project throughout India and the collaborative work we have done with the Hyderabad Marathon
has led to opportunities throughout the country. We are very excited to begin developing these projects in the world’s second most
populous country which, like all other countries, has an enormous plastic problem.
This past May, we announced the completion
of our acquisition of a 51% equity interest of Ecosynergie Group in Agadir, Morocco (“Ecosynergie”) and the establishment
of Clean-Seas Morocco. Clean-Seas Morocco is our first commercial facility and began operations in May 2023. Clean-Seas Morocco is currently
converting 20 tons per day (TPD) of plastic feedstock and plans to expand to 70TPD in July of this year. Current expectations are to
add another 50TPD in October, bringing the total to 120TPD. The two 50TPD units operated by Clean-Seas Morocco were purchased by Ecosynergie
and were included as part of the acquisition. We expect that as we reach 120TPD before the end of this year the facility will be generating
approximately $1M USD per month. In order to expand the facility to 500TPD, Clean-Seas Morocco will need additional capital for technology,
infrastructure and labor to support its growth. We expect to secure this capital in the form of project finance, ESG funding or potentially
launching a green bond, all of which can provide the needed capital to scale operations without diluting our shareholders.
Five-Year Projected Gross Revenue: Morocco
| 2023 |
2024 |
2025 |
2026 |
2027 |
| $5,724,469 |
$36,875,500 |
$60,664,500 |
$80,489,500 |
$82,472,000 |
Closer to home, we have announced projects
in West Virginia and Arizona. Clean-Seas West Virginia was recently established to stand up our facility in Quincy, West Virginia. We
have located a site for our project on 10 acres of land which includes a 40,000 square-foot facility from which we currently plan to
launch our 100TPD facility, our first PCN hub for the mid-Atlantic states. The state of West Virginia has offered us a generous $12m+
incentive package, which includes $1.75m in a forgivable loan as long as 40 jobs are created at this site within 3 years of operations.
We anticipate that the total cost to secure the land, facility and fund this project will be approximately $50M USD. While we have not
yet secured a financing source, we are in the process of seeking debt financing in addition to the resources noted above to fund this
project. We have under contract with MacValley, LLC, a feedstock agreement for 100TPD of post-industrial plastic which we will use once
the project is operational. Our current plans are to start operations on our project in West Virginia in the first quarter of 2024. As
with all PCN hubs, we will start conservatively and expect to scale up to 500TPD.
Five-Year Projected Gross Revenue: West
Virginia
| 2023 |
2024 |
2025 |
2026 |
2027 |
| |
$12,208,444 |
$30,990,667 |
$47,894,667 |
$56,346,667 |
Clean-Seas Arizona
(CSA) has been established under our previously announced Service Agreement with the Rob and Melani Walton Sustainability Solutions Service
(“WSSS”) and Arizona State University (“ASU”). We are in the process of securing a suitable facility near the
city of Phoenix to begin operations at 100TPD with feedstock being supplied from the Phoenix metro area and the western United States.
Under the Services Agreement, WSSS and ASU will assist CSA in securing land, permits, feedstock and other needed services. It is the
goal of both WSSS and CSA to create clean hydrogen from plastic feedstock utilizing
the technology developed with IICT to produce AquaH™, Clean-Seas’ branded hydrogen, in the latter part of 2024. The project
is planned to expand to 500TPD with the WSSS organization leading the way, and CSA will also pursue Biden Administration hydrogen hub
program funding.
Five-Year Projected Gross Revenue: Arizona
| 2023 |
2024 |
2025 |
2026 |
2027 |
| |
$11,269,333 |
$30,990,667 |
$47,894,667 |
$56,346,667 |
Clean-Seas’ AquaHTM:
The Ultimate Clean Hydrogen Fuel
With an eye toward future-proofing our
business plan and enhancing profitability, we are developing a proprietary component in our plastic pyrolysis plants designed to produce
clean hydrogen which we have branded AquaHTM and it is nearing commercial stage, which we anticipate to be ready for deployment
in the 1st Quarter of 2024.
We believe hydrogen is the ultimate clean
fuel with water vapor as its only byproduct. We believe that producing it from waste plastic is the green economy holy grail. Unlike
the traditional method of hydrogen production, electrolysis, AquaH™ does not require electricity or water and diverts the
plastic feedstock from landfills, incineration and our oceans - an environmental home run. It is estimated that half a trillion dollars
are being committed worldwide to the development of clean hydrogen as both a consumer and commercial fuel and the Clean-Seas portfolio
has the opportunity to produce this product at scale.
Not to be forgotten, we have also been
developing a proprietary hydrogen fuel cell, “EcoCell,” for storing that energy safely and efficiently. The initial R&D
has been completed and the first prototype in nearing completion. After final assembly and thorough testing and data collection, we expect
the EcoCell product to be ready for potential customer or partner demonstration in the third quarter of this year.
Our Clean Vision and Clean-Seas family
continues to grow, and I could not be prouder to work shoulder to shoulder with our teams in India, Morocco, the UK and here in the US.
Our Company now includes experts in chemical and mechanical engineering, sustainability, business development, operations and management,
with a Board of Directors that adds years of experience in all facets of public company corporate development and governance.
I hope that this letter has provided a
roadmap of the future of the Company and has answered many of the questions that have been asked in the recent past. I and my team are
committed to the success of Clean Vision and its subsidiaries and to tackling the global was plastic problems at scale, and it would
not be possible without you. I thank you for your support and patience and commitment to making the world a cleaner and more prosperous
place.
Sincerely,
Dan Bates
CEO
About Clean Vision
Corporation
Clean Vision Corporation
operates and intends to acquire and operate a portfolio of synergistic companies in the sustainable clean technology and green energy
sectors. 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 is working to provide efficient and cost-effective technology solutions that address
locally the global waste 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.com
Cautionary Note Regarding Forward-Looking Statements
This
press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning
of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks
and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and
may contain projections of our future results of operations or of our financial information or state other forward-looking information.
In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,”
“would,” “should,” “expect,” “intend,” “plan,” “anticipate,”
“believe,” “estimate,” “predict,” “project,” “potential,” “continue,”
“ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain
these words.
Although
we believe that the expectations reflected in these forward-looking statements are reasonable, these statements relate to future events
or our future operational or financial performance and involve known and unknown risks, uncertainties and other factors that may cause
our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed
or implied by these forward-looking statements. Furthermore, actual results may differ materially from those described in the forward-looking
statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, statements
about our future financial performance, including our projected revenue, cash flows, costs of revenue and operating expenses; our anticipated
growth; our predictions about our industry; the impact of the COVID-19 pandemic on our business; our ability to raise the capital needed
to meet future expectations and expand project capacity which depend on factors outside of our control; and our ability to attract, retain
and executed on projects with our business partners. The forward-looking statements contained in this press release are also subject
to other risks and uncertainties. The forward-looking statements in this press release speak only as of the date on which the statements
are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made
in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence
of unanticipated events, except as required by law.
Contact
Clean Vision
Corporation
Dan Bates,
CEO d.bates@cleanvisioncorp.com
Investors
Frank Benedetto
619-915-9422
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Clean Vision (QB) (USOTC:CLNV)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
Clean Vision (QB) (USOTC:CLNV)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024
