Clenergen Corporation
OTC Bulletin Board : CRGE

Clenergen Corporation

August 13, 2009 08:00 ET

Clenergen Corporation (OTCBB:CRGE) Announces Acquisition

NEW YORK, NEW YORK--(Marketwire - Aug. 13, 2009) - Clenergen Corporation (OTCBB:CRGE) today announced it will acquire 100% controlling interest of Clenergen Corporation Limited based in the United Kingdom and establish Clenergen Corporation as one of the leading Biomass Power Generation Companies globally.

Clenergen Corporation Limited retains 100% controlling interest in Clenergen India Private Limited, a subsidiary company based in Chennai, set up to implement a 80MW per hour Biomass Power Plant in the States of Tamilnadu and Karnataka India. Clenergen India signed a Power Purchase Agreement with the Power Trading Corporation of India Limited (PTC) that is valued at $87,000,000 per year over a 15 year contract period. Clenergen India intends to float on the National Stock Exchange in India in December 2009 and have engaged Ernst and Young to raise the debt and private equity requirements. The company has secured leases on 4000 acres of land in Tamilnadu and is in the process of obtaining land leases from the Government of Karnataka to cultivate 25,000 acres of land for the production of biomass from bamboo cultivation for its gasification power plants.

Clenergen Corporation Limited acquired the assets of Enhanced Biofuels and Technologies Limited in April 2009 valued at $3,000,000. EBT provided 4 years of research and development of biofuels and bioenergy feedstock's, conducted at its research laboratories in Coimbatore, India. As a result the Company has identified a species of tree (Marjestica) and applied a Tree Adaptation Process (TAP) which increases their growth rate by up to 40% per annum and results in a high volume yield per acre continuously on an annual basis without replanting.

Commenting on the acquisition Dr Arvind Pandalai, Chairman of Clenergen Corporation said " The merger of our global operations under Clenergen Corporation positions the company to implement its agronomy program for the cultivation of biomass on a global scale and promote the use of carbon neutral gasification power plants throughout its region of operations".

Notice Regarding Forward-Looking Statements

This current report 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 complete the acquisition and establish our company as one of the leading biomass power general 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 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 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.

About Clenergen Corporation

Clenergen Corporation is a publicly listed company on the OTC stock market (symbol CRGE). Clenergen offers strategic Clean Energy Generation projects to address the requirement for renewable and sustainable supplies of electricity. Clenergen has developed a unique modular system of co-gasification and localized plantation management using proprietary and mixed biomass feedstock to implement sustainable supplies of clean energy to regional, independent clients and national grids. The "Distributed Environmental Power System" marries significant proprietary advancements in plant science with proven long standing engineering technologies to achieve this goal.

Contact Information

  • Clenergen Corporation
    Jessica Hatfield
    Communications Director
    0044 (0)207 739 0028
    0044 (0)207 657 3275 (FAX)