CLNV - Clean Vision Corporation Gets an Upside from Rising Demand for Plastics Recycling
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Plastics Recycling Market Expectedto Reach $60 billion by 2030
Theworld is in need of a recycling revolution, or, it must findsustainable ways of recycling plastics and other products, in order tocomplete the energy transition. One ton of recycled plastic saves5,774 Kwh of energy, 16.3 barrels of oil, 98 million BTU's ofenergy, and 30 cubic yards of landfill space.
And, by 2030, plastics reuse and recyclingis expected to generate growth of as much as $60 billion for thepetrochemicals and plastics sector, according to a McKinseyreport.
Even though materialsscientists, manufacturers, and waste handlers have been focused onways to efficiently reclaim renewable energy materials from recycledwaste, so far the progress has been not so impressive.
Few companies have launched recyclingoperations that make investing in recycling facilities worthwhile forinvestors. The world is in need of companies that can prove thatrecycling the world’s piles of waste into clean energy can prove tobe a scalable and profitable industry.
Network of Conversion Facilities Close to WasteLocations
Clean VisionCorporation (OTC:CLNV) , a clean technology company, offers justthat. Through its buy-and-build strategy, the company’s Clean-Seassubsidiary has assembled a network of plastic conversion facilitiesthat together can recycle plastic at a scale that far surpasses thatof any competitors. The company has set out a goal to have theseconversion facilities as close to the waste locations as possible,reducing cost, logistics and carbon footprint.
It operates a pilot program in India and acommercial facility in Morocco, where it has recently acquiredEcosynergie that owns and operates two pyrolysis conversion unitstargeting the collection of mixed waste plastics sourced locally andfrom the European Union and converts the waste into environmentallysustainable fuels.
In the US,Clean-Seas is working with the Rob and Melani Walton SustainabilitySolutions Service and Arizona State University (ASU) to establish a$50 million plastic-to-clean hydrogen facility. It redirects plasticwaste from landfills and incinerators and converts it intorecycled-content plastic and Clean-Seas proprietary clean hydrogenproduct.
Staying Ahead ofCompetition: Gaining Scale and Keeping Oceans Clean
CEO Dan Bates says: “Through our PlasticConversion Network (PCN) and waste plastic conversion technology, weexpect to be doubling or tripling the number of conversion facilitieswe have. Every country has a waste plastic problem. We are looking tobecome the dominant player in this global market.”
Clean-Seas is scaling up its volumes asthe company’s facility in Morocco will be capable of recycling 130tons of plastics a day in summer ’22 and is slated to recycle up to500 tons in the next two years.
With its pyrolysis technology, the company heats plastic in anoxygen-free environment, causing the materials to breakdown, creatingnew liquid or gas fuels in the process. Waste plastics are thenconverted into an intermediate liquid product which, in turn, can berefined into a hydrocarbon biofuel, oxygenated fuel additives andpetrochemical replacements.
Pyrolysis is a crucial element of the circular economy, andcompanies that are able to harness this process at scale are at theforefront of the green revolution.
The ultimate purpose of Clean-Seas, as the name of thesubsidiary company indicates, is to make sure no more plastic wastegets into the world’s oceans by solving the issue of waste recyclingon land.
Governments andMultinationals: Urgent Need For Help With Waste Recycling
This proposition is appealing to a widevariety of clients, from governments to municipalities and plasticproduct manufacturers. All of them have to pay ‘tipping fees’ toget rid of their waste plastic, which either ends up in landfills oris being incinerated. In the US alone, six times more plastic waste isburned than recycled at the moment.
Also, multinational oil and gas companies are willing to buy ata premium the low-sulfur bio fuels the company produces, which can berefined into environmentally safe fuels helping those companies meetrenewable fuels standards.
Clean-Seas’ plastic waste conversion strategy offers investorsa solid business case as the number of parties that are willing tofind solutions for their plastic waste problem and negativereputational issues associated with that, is growingexponentially.
Added to that, CleanVision has a new opportunity that emerged after China stoppedimporting plastics in 2018, a decision that left many government andplastics manufacturers with a major waste recycling problem.
China in the past used to be one of themain recipients of global waste plastics. But its National SwordPolicy changed all that as the country opted to stop receiving wasteplastics when it began to run out of landfill space. In 2018, Chinabanned all the importation of ecyclable waste, which made the need forplayers such as Clean Vision all the more vital.
Strategy of The Future: Focusing onClean Hydrogen
In the future,the company plans to migrate from producing pyrolysis oil to cleanhydrogen aiming to become a key player in the hydrogen economy. Itwants to take advantage of the pyrolysis reaction so as to utilize agas that is a byproduct of this reaction, which can be converted intohydrogen, a completely pristine, carbon-free fuel.
Clean-Seas is in the process of harnessinghydrogen production from waste plastic as well as optimizing it’sfuel cell technology with the goal of implementing sustainablehydrogen fuel on a wide scale for consumer and commercial use.
Additionally, Clean Vision’s subsidiary,EcoCell, is currently completing the prototype for its clean hybridhydrogen-based fuel cell electric power system.
Conclusion
Plastic recycling revolution is here tostay. Those companies that are able to gain scale, like Clean Vision,will be able to reap the benefits of this growing market, which issupported by governments and companies desire to solve the wasterecycling problem and in-turn environmental concerns.
This stock offers a great opportunity forinvestors to get in early and ride on the waves of changes thatplastics manufacturing and recycling market will see in the years tocome.
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