SOURCE: Cleantech Transit, Inc.

June 06, 2012 08:11 ET

Cleantech Provides Details on Building Additional Power Plants to Globally Compete in 45 Billion Dollar Biomass Market

LAS VEGAS, NV--(Marketwire - Jun 6, 2012) - Cleantech Transit, Inc. ("Cleantech or the Company") (OTCBB: CLNO) is pleased to announce its plan to build and operate additional power plants as a part of its business development strategy. The Company intends to continue to develop its relationship with its current partner, as well as source out new partnerships in the biomass area.

The market value of electricity generated from biomass in the United States is steadily increasing to $53 billion by 2020, up from approximately $45 billion in 2010, according to sustainable business news. Biomass power generation consumes more than 100 million tons/yr. of fuel, virtually all of which is waste or residue material that requires some form of treatment and disposal.

Cleantech Transit is currently in talks to acquire larger 1MW plants, which is double the size of its current 500KW plant located in Merced County. Through its existing partnerships the Company has access to several biomass plants ranging from 1MW to 2MW in size. Progressively adding additional plants will help the Company achieve a steady revenue stream, which can be reinvested in developing larger biomass facilities around the world.

In addition the Company is in talks with various groups to provide technical and operational assistance to help develop biomass facilities based on their business needs.

"As they say, where focus goes energy flows, and our strong commitment to building, implementing and operating the biomass power plants will give Cleantech the potential to develop into a significant player in the field of alternative energy," said President and CEO of Cleantech Transit Inc. Kenneth Bosket.

About Cleantech Transit, Inc.:

The Company's mandate is to create opportunities utilizing advances in technology and manufacturing processes in order to develop significant market share in the alternative clean energy sector. With the growth in green energy initiatives, the Company has expanded its focus to invest directly in specific projects that will maximize shareholder value. Recent advances in the technology of converting wood waste into power have greatly enhanced the economic value of the company's systems. A Biomass division was launched led by Phoenix Energy to focus exclusively on generating greater returns for manufacturing clients worldwide. For more information please visit the Company's website at www.cleantechtransit.net.

This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. 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. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. 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 new business opportunities and development stage companies. These forward-looking statements are made as of the date of this news 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 any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such 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 annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.