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Clenergen Corporation (CRGE: OB) buys leasehold on 5,000 acres of Land and Option rights for 145,000 acres for Biomass Cultivation in Guyana
The Chief Executive Officer of Clenergen Corporation, Mark Quinn stated " the land cultivation is due to commence with cultivation specialists Georgia Caribbean International (GCI) in 2010. On a conservative estimate of 40 tonnes of biomass per acre, the company projects an annual supply of 6 (six) million tonnes by 2016. With the overwhelming demand for coal fired power plants to blend biomass to reduce carbon emissions, Clenergen intends to be a global supplier of high calorific wood chips for gasification and clean energy generation, particularly in Europe and the USA. GSI has experience with this species of tree since 1999 and is recognized has a world leader in Paulownia plantations".
The long lease of land in Guyana comes after extensive research and development into various forms of feedstock for the purpose of generating clean electricity from biomass directly cultivated from plantation sources for use with advanced gasification systems.
In April 2009 Clenergen Corporation Limited acquired the assets of Enhanced Biofuels and Technologies Limited (EBT), which included but were not limited to three year's research and development of non edible vegetable oils, algae, and biomass feedstock for the purpose of producing bio fuels and bio energy.
This combined expertise has concluded that the cultivation of high-density, short-rotation biomass crops on a commercial scale will result in;
(I) a cost of production competitive to the price of coal (measured in energy terms - MM/Btu)
(II) use of a proprietary integrated plantation model
(III) production of natural organic fertilizers from the bi-Products produced at the site of the 1.5MW per hour Anaerobic Digestive Power plant in Tuticorn, Tamilnadu India. Operations are expected to commence in October-November 2009 and will produce an estimated 9000 tons of Ammonium Sulphate Fertilizer, which will be transported to the land under lease in India and shipped from the port of Tuticorin to port of Guyana.
(IV) A clean source of electricity through advanced gasification technologies.
Notice Regarding Forward-Looking Statements
This press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to our ability to cultivate Marjestica in Guyana on a large scale and to establish our company as one of the leading biomass energy generating companies globally.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with clean technologies; changes in the operating costs and changes in economic conditions and conditions in clean technologies. These forward-looking statements are made as of the date of this press release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our current and periodic reports filed from time-to-time with the Securities and Exchange Commission.
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