APO - CleanGo Innovations Provides Corporate Update and 2024 Commercial Guidance
(TheNewswire)
Vancouver, BC – TheNewswire -- January 16, 2024 - CleanGo Innovations Inc.(CSE:CGII) (OTC:CLGOF) (FRA:APO2) (“CleanGo”) or (the“Company”) a leader in green certifiedeco-friendly industrial, commercial and household cleaning solutions,is pleased to provide a comprehensive corporate update, as well ascommercial guidance for H1 2024. The Company is poised for a year ofsignificant achievements and sustainable sales growth, whilecontinuing its mission to revolutionize industrial and commercialverticals with eco-friendly cleaning solutions.
“2023 was a year spent building a basis for CleanGoto start a growth trajectory that our shareholders have believed ourcompany capable of for years. Our focus on industrial partnerships andsales has streamlined operations, cut our burn rate and given us aclear path to profitability for 2024. While the majority of ourfocus is on Industrial, we are not letting our progress on both ourcommercial and retail relationships dissipate. Through partnershipsand more efficient use of capital we believe these vertices willcontinue to experience growth in 2024 as well. We are looking forwardto having a banner year for CleanGo Innovations and providingexcellent shareholder value in 2024.
Industrial Segment: ExponentialGrowth and Global Expansion
CleanGo Innovations continues to experience theexpansion of its industrial segment, with sales of its flagship CG-100concentrated product increasing from approximately 50,000 litres in2022 to over 100,000 litres during 2023. For 2024, the Companyprojects a conservative sales target of 1,600,000 litres of CG-100 toprimarily industrial and commercial cliental. Projected sales growthis further bolstered by ongoing global expansion efforts, includingLATAM and MENA.
CG-100, is a proprietary innovative and green product,we believe it may be poised to disrupt the oil and gas industry as aunique solution for oil & gas well optimization and down holecleaning with no certified direct competitors. Further, CleanGo ispreparing case studies and testimonials to showcase the versatility ofCG-100 in various industrial applications, including asphalt,concrete, and other commercial uses. These will be featured on thenewly launched and rebranded website:https://www.cleangoinnovations.com/.
Commercial Sector: Diversifying andExpanding Partnerships
In the commercial sector, CleanGo is activelycollaborating with a portfolio of companies across diverse verticals,including travel, festival, and commercial janitorial services.CleanGo takes pride in its commercial cleaning products, uniquelycertified by Green Seal, Health Canada, FDA, and Leaping Bunny,setting them apart from competitors who may engage in perceived'greenwashing'.
Retail Focus: Strategic Shift andInnovative Developments
While continuing to grow in the retail sector, CleanGoInnovations is strategically shifting its focus towards the moreprofitable industrial and commercial verticals in 2024. The Company isexploring collaborations and white-label opportunities to expand itsretail presence with minimal financial impact. CleanGo is also pleasedto share it has developed and is ready to launch a new disruptivegreen cleaning product, with plans to announce the product in Q1 2024,alongside accretive partnerships.
Miscellaneous Endeavors: EnhancingOperational Efficiency
CleanGo is leveraging its new Conroe, Texasmanufacturing, distribution and warehouse. CleanGo is currentlynegotiating an agreement to subcontract machine downtime, a moveexpected to bring the company to cash positive operation in early2024.
CleanGo Further Announces Agreementwith Summit Ventures
The Company has entered into an agreement with BlueSummit Ventures, an arm's-length party to the company, to providemarketing services to enhance its social media and digital marketingfunctions.
Blue Summit will oversee the Company's social mediacampaigns, harnessing the power of various platforms to raiseawareness of CleanGo, engage with stakeholders, and communicate theCompany's ongoing advancements in the sustainable performance cleaningmarket segment. Blue Summit has agreed to provide digitalcommunications services to the company in exchange for an aggregateamount of $50,000 plus applicable taxes. The services will includecontinuing social media consultation regarding engagement andenhancement, social sentiment reporting, social engagement reporting,and corporate video dissemination.
The initial term of the Blue Summit agreement is for aperiod of six months. As of the date hereof, to the Company'sknowledge, Blue Summit (including its directors and officers) do notown any securities of the Company.
About CleanGo Innovations Inc.
CleanGo Innovations, a dynamic and forward-thinkingcompany, dedicated to developing and distributing a range ofinnovative, green certified environmentally friendly cleaningsolutions. With a focus on sustainability and efficiency, CleanGo iscommitted to transforming the cleaning industry through its greencertified products.
The Canadian Securities Exchange and InformationService Provider have not reviewed and does not accept responsibilityfor the accuracy or adequacy of this release.
On behalf of the CEO & Board of Directors AnthonySarvucci
Chief Executive Officer CleanGo Innovations Inc.
For More information Contact:
info@cleangogreengo.com Phone 1 949 200 6534
Forward-looking Information
This news release may contain forward-lookingstatements and forward-looking information (collectively,“forward-looking statements”) within the meaning of applicableCanadian and U.S. securities legislation. Forward-looking statementscan often be identified by words such as “will”, “plans”,“expects”, “may”, “intends”, “anticipates”,“believes”, proposes” or variations ofsuch words including negative variations thereof and phrases thatrefer to certain actions, events or results that may, could, would,might or will occur or be taken or achieved. Actual results coulddiffer from those projected in any forward-looking statements due tonumerous factors, including risks and uncertainties relating togeneral economic, market or business conditions or changes in laws,regulations and policies affecting the Company’s operations.Investors are cautioned that forward-looking statements are notguarantees of future performance or events and, accordingly arecautioned not to put undue reliance on forward-looking statements dueto the inherent uncertainty of such statements. Any forward-lookingstatements included in this news release are made as of the datehereof and the Company does not intend to update or revise anyforward-looking statements, except as expressly required bylaw.
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