Cleantech Transit, Inc. (OTCPK:CLNO)
Biomass, a renewable energy source, is biological material from living, or recently living organisms, such as wood, waste, (hydrogen) gas, and alcohol fuels. Biomass power plant size is often driven by biomass availability in close proximity as transport costs of the fuel play a key factor in the plant's economics.
Cleantech Transit, Inc. reported that funding to be provided to Phoenix Energy for the commercialization of a 500 Kilowatt biomass gasification plant should be eligible to apply for a renewable energy cash back incentive program offered by the U.S. Federal Government. If it concludes its planned investment in Phoenix Energy, under Section 1603 of the American Reinvestment and Recovery Act, CLNO will be entitled to receive its pro-rata share of 30% cash grant payments. Once the final interconnect process and application are complete the grant should be received within 60 days. The 5-year grant vesting period, means all parties must remain owner of record for that length of time, underscoring Cleantech and its partners’ commitment to this project and the host community. ( Read More http://crwepicks.com/?p=14706 )