Mar. 14, 2012, New York, NY - Clenergen Corporation has
reached an agreement with Futenco AG to retain 100% ownership of its
operating subsidiaries in Ghana, Guyana, and the Philippines for biomass
Demand for biomass fuel resources has increased exponentially
recently, supported by countries across the globe, such as Germany
and India, legislating cessation of nuclear energy production in the
wake of the Japanese nuclear meltdown last year. Renewable energy
sectors are increasingly operating under government mandated minimum
production quotas. Therein, biomass is proving a demonstrably more
efficient renewable source of fuel than either wind or solar.
Contributing to the surge in demand for biomass, major European coal
fired power plants are answering calls from continental regulators to
reduce emissions and meet obligations for biomass fuel use by
increasing sourcing of co-firing wood pellets to 20% of total fuel
supply sourced within five years. According to the EU Biomass
Association, the EU will increase use of biomass consumption from 13
million tonnes annually today to 100 million tonnes by 2020.
In North America, state and provincial level renewable portfolio
standards are now mandating that utilities begin the process of
embracing biomass in certain jurisdictions. It is possible that
within several years, the U.S. biomass landscape may more closely
resemble that of Europe.
In this context, Clenergen restructured its operations in 2011 and
re-directed its focus to the cultivation of energy crops in each of
Ghana, Guyana, and the Philippines to supply wood chips and off-grid
power plants for captive end users, such as the mining companies, in
an effort to expand global plantation footprint and engage
pelletization companies for the export market.
Commenting on today's developments, Mark Quinn, Chief Executive
Officer of Clenergen Corporation said " the decision to retain
ownership in these regions, has resulted from a renewed interest in
the funding and execution of both existing and new projects, where
revenues can be generated in short term from supplying turn key
energy solutions for clients and in the long term from the
cultivation of large scale energy crops under joint ventures with
equipment suppliers and end users".
About Clenergen Corporation
Clenergen Corporation is a publicly-traded company with its common
stock quoted in the USA on the OTC. 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. To receive future news, investor
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