Clenergen Corporation
OTC Bulletin Board : CRGE

Clenergen Corporation

July 13, 2010 08:35 ET

Clenergen Corporation (OTCBB:CRGE) Signs Agreement to Supply A Turnkey Gasifcation Biomass Power Plant for Leading Manufacturer in India

NEW YORK, NEW YORK--(Marketwire - July 13, 2010) - Clenergen Corporation (OTCBB:CRGE) today announced that it has entered into a Memorandum of Agreement with Juken India limited to install up to 2MW/h gasification biomass power plants at their manufacturing site in Bangalore, India. As of to date Clenergen has a total of 19.5MW/h of operational biomass power plants and 40MW/h under Agreement in India, Philippines and Ghana, with estimated gross revenue of $63,000,000 per annum over a minimum 15 year period.

Yuken India Limited is a listed company that was set up in 1976 under a technical and financial collaboration with Yuken Kogyo Company Limited, Japan, for the manufacturer of oil hydraulic equipment. In the last 29 years, Yuken has achieved the fasted growth rated in the oil hydraulics industry in India.

With an Internal Rate of Return (IRR) in excess of 20% from operations, Clenergen projects additional profits of up to 30% from its biomass power plant projects, as a result of integrating its own proprietary feedstock from year 3 onwards. The demand for small gasification plants continues to increase due to the relatively short time to manufacture and install (under 12 months), high level of efficiency, and carbon negative electricity generated from the gas engines. Furthermore, carbon credits equal to 16,000 tons per annum are generated from the fossil fuel displacement value of the renewable electricity generated by each 2MW gasification biomass power plant, which equates to an additional $250,000 profit to the bottom line.

Commenting on the Agreement, Mark Quinn, Executive Chairman of Clenergen Corporation said "we continue to expand into the mining and manufacturing industrialized markets where energy costs and security of uninterrupted supply is critical to their production requirements. The cost savings created from the cultivation of our own biomass feedstock allows us to supply electricity at a price lower than the current market prices being paid by companies operating in the emerging markets."

About Clenergen Corporation

Clenergen Corporation is a publicly-traded company with its common stock quoted on the Over-the-Counter-Bulletin Board (OTCBB:CRGE). Clenergen offers strategic clean energy generation and supply of biomass feedstock to address the requirement for renewable and sustainable supplies of electricity. Clenergen has developed a unique modular system for gasification and localized plantation management. Clenergen also plans to provide biomass feedstock for producing wood pellets for co firing with coal to produce low emission electricity.

Clenergen Corporation intends to use proprietary and mixed biomass feedstock to implement sustainable supplies of clean energy for regional, captive end users, remote islands, and mining companies and, through government- or privately-owned power grid systems, other end users, including private homes. The "Distributed Environmental Power System" marries significant proprietary advancements in plant science with proven long standing engineering technologies to achieve this goal. For further information on Clenergen Corporation and its products and services, go to: www.clenergen.com.

Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). To the extent that any statements made in this press release contain information that is not historical, these statements are essentially forward-looking. Forward-looking statements can be identified by the use of words such as "expect," "plan," "will," "may," "anticipate," "believe," "should," "intend," "estimate," and variations of such words. Forward-looking statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, those risks and uncertainties contained in this press release and those identified in the periodic reports that the company files with the Securities and Exchange Commission (the "SEC") pursuant to the Exchange Act.

Contact Information

  • Clenergen Corporation
    Jessica Hatfield
    0044 (0)207 739 0028
    0044 (0)207 657 3275 (FAX)
    www.clenergen.com