CLNV - Clean Vision unit inks term sheet to set up PCN pyrolysis plant in Turkey

Clean Vision (OTCPK:CLNV) said Tuesday its unit Clean-Seas (C-S) inked a binding term sheet with Pax Petrokimya Sanayi Ve Dis Ticaret to pursue the development of a commercial-scale waste plastic-to-energy plant in Turkey. The term sheet will govern the relationship between the parties till a formal definitive deal may be implemented. C-S will establish a new U.S. firm Clean-Seas Turkey and Pax Petrokimya will set up business entities as needed in Turkey. Clean-Seas Turkey will manage construction and operations for a 150 tons-per-day pyrolysis facility. Clean-Seas Turkey will hold a controlling stake in the jointly owned entity. Pax Petrokimya will provide land to support the facility's processing. It will source feedstock, assist with off-take deals, and ensure compliance with Basel Convention rules for storage and recycling of feedstock. "With signing the Brittany binding term sheet in France, and our planned PCN project in Morocco - Istanbul now solidifies our footprint

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Clean Vision unit inks term sheet to set up PCN pyrolysis plant in Turkey