SOURCE: Cleantech Transit Inc.

Cleantech Transit Inc.

February 28, 2011 08:00 ET

Cleantech Transit Provides Update on Final Stages of Permitting for Merced Project

SCOTTSDALE, AZ--(Marketwire - February 28, 2011) - Cleantech Transit Inc. ("Cleantech") (OTCBB: CLNO) announced today the commencement of the final permitting prior to be able to go online at Merced. The Merced project is a 500 Kilowatt biomass-generated power plant that is fully constructed, owned and operated by Phoenix Energy (www.phoenixenergy.net). The Merced project received permission for parallel testing to the grid. This testing process will allow Merced to connect to the grid on its own.

"In approximately 30 days, the parallel testing for final status should be complete, thereafter a conversion from genset to syngas will take place. The initial testing takes place using propane and then converts over to syngas. The final air testing will take place in approximately 90 days. Once testing is complete, the process for applying for the 30% cash grant can begin," said Alex Holtermann, CEO of Cleantech.

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, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project can generate shareholder returns as well benefit the Company's manufacturing clients worldwide. 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.

Contact Information

  • Contact:
    Alexander Holtermann
    CEO
    Cleantech Transit Inc.
    Email Contact