SOURCE: Cleantech Transit, Inc.

Cleantech Transit, Inc.

June 26, 2011 15:30 ET

Cleantech Transit, Inc. Met Its Funding Requirement in Reference to the 500KW Merced Project

LAS VEGAS, NV--(Marketwire - Jun 26, 2011) - Cleantech Transit, Inc. ("Cleantech or the Company") (OTCBB: CLNO) is pleased to announce it has met its funding requirement to secure the Company's ability to earn in 25% of the 500KW Merced Project.

The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction approximately June 30th. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as we move ahead.

"This is a significant milestone for the Company and our goal is to continue to build value as we progress," said Mr. Kenneth Bosket, Cleantech's President and CEO.

About Cleantech Transit, Inc.

Cleantech Transit, Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects that can maximize shareholder value. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy has to offer. For more information, visit www.cleantechtransitinc.com.

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.