Clenergen Corporation

Clenergen Corporation

November 16, 2010 05:50 ET

Clenergen Corporation Signs Agreement With Yuken India Limited to Install a 4 MW/h Gasification Power Biomass Plant

CHENNAI, INDIA--(Marketwire - Nov. 16, 2010) - Clenergen Corporation (OTCQB:CRGE)(FRANKFURT:9CE) today announced that it has entered into a Memorandum of Understanding ("MoU") with Yuken India Limited (BSE:522108) for the installation of a 4 MW/h Gasification Biomass Power Plant operating on gas engines at their manufacturing facility in Bangalore, India. The gasification will provide Yuken a secure and sustainable supply of renewable electricity on site.

Yuken India Limited 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 one of the fastest growth rates in the Indian oil hydraulics industry.

Clenergen India Private Limited, a wholly owned subsidiary of Clenergen Corporation, shall enter into a minimum 15 years Power Purchase Agreement (PPA) to supply Yuken up to the 2.5MW/h, with the balance of electricity generated being sold to the National Grid System. The 4 MW/h biomass power plants will be installed and operational within 10 months upon signing of the PPA.

Clenergen India will lease up to 800 acres of non arable land near the manufacturing site in order to grow a high yielding species of bamboo as a source of biomass for the gasification power plant. After 10 years of breeding and fertilization programs, the bamboo is produced from tissue culture, resulting in an asexual, non-invasive, non-flowering plant which a lifespan of up to 50 years.

Commenting on the MoU, 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 and extend our vertical market penetration into these market sectors".

Mr. C. P. Rangachar Managing Director of Yuken India Ltd said "Energy security is critical to our manufacturing operations. Regular shortages of electricity within the southern states of India are now affecting our supply chain. Clenergen offers our company a turnkey, cost effective and sustainable solution to this problem. 

About Clenergen Corporation 

Clenergen Corporation is a publicly-traded company with its common stock quoted in the USA on the OTC Market (Symbol: CRGE) and in Germany on the First Quotation Board, Open Market of the Frankfurt Stock Exchange (Symbol: 9CE) 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 uses biomass feedstock to implement sustainable supplies of clean energy for captive end users, islands, mining companies, government or privately-owned power grid systems and other end users. 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:

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.

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