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
o Biomass can be used for fuels, power production and products that would otherwise be made from fossil fuels.
o It does not add CO2 to the atmosphere as it absorbs the same amount of carbon in growing as it releases when consumed with fuel.
o It can be used to generate electricity with the same equipment or power plants that are now burning fossil fuels.
o It is sensible to use waste products where we can.
o Biomass fuel generally tends to be cheap.
o Using biomass sources places less demand on the Earth's resources.
o The use of biomass energy has the potential to greatly reduce greenhouse gas emissions.
o The use of biomass can reduce dependence on foreign oil.
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