Cleantech Transit, Inc. (CLNO)
Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company's ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
Advantages of Biomass Energy:
1. Biomass can be used to make a variety of fuels to generate electricity
2. Biomass is used for the production of chemical products
3. Biomass waste can help in reducing disposal costs
4. Biomass waste can extend the life of landfills
5. Biomass is renewable.
6. It can make our life easier
7. Can use waste products and therefore can have negative fuel costs
8. Can create several products - electricity/heat/biogas/biofuel
9. Very large resource
10. Lots of different technology
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