SOURCE: Cleantech Transit, Inc.

June 12, 2012 16:37 ET

Cleantech Transit Provides Details on Public Private Partnership to Build Proposed Biomass Plants

LAS VEGAS, NV--(Marketwire - Jun 12, 2012) - Cleantech Transit, Inc. ("Cleantech or the Company") (OTCBB: CLNO) is pleased to provide further details on the proposed Public Private Partnership from a United Nations Sponsored Intergovernmental Agency.

The Company intends to continue to pursue this potential new partnership to the fullest. Intergovernmental agencies are set up by two or more states to help coordinate and carry out an initiative where a common interest exists, which in this instance is the simultaneous implementation of numerous biomass plants in locations where electricity needs are a primary concern. The development and implementation of up to 47 1MW biomass power plants will require significant financing from our partners, estimated to be in excess of 150 million.

Biomass power plants are highly capital intensive so having a strong financing partner will allow our company to grow our business operations side of the business.

The demand for electricity globally is projected to grow, driven by growing population and the presence of large untapped markets, which remain to be connected to the power grid. The challenge facing the global electricity market is managing the issue of carbon emissions with growing nations needing power and providing electricity access across rural and urban areas.

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.