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Cleantech Transit, Inc. (CLNO) Provides Update On Plans To Increase Competitive Edge In Growing Biomass Market

Cleantech Transit, a company engaged in advances in technology and manufacturing processes in the alternative clean energy sector, today announced that it plans to build and operate additional power plants as part of its business development strategy.

These plans include the company's continued development of its relationship with its current partner, as well pursuing new partnerships in the biomass area, which is forecast to grow to $53 billion by 2020 compared to $45 billion in 2010.

Biomass power generation consumes more than 100 million tons/yr. of fuel, virtually all of which is waste or residue material that requires some form of treatment and disposal.

Cleantech Transit said it currently is in discussions regarding the acquisition of larger 1MW plants, which is double the size of its current 500KW plant located in Merced County.

Leveraging its existing partnerships, Cleantech Transit has access to several biomass plants, which range from 1MW to 2MW. By progressively adding additional plants, the company aims to achieve a steady revenue stream, which can be reinvested in developing larger biomass facilities around the world.

Additionally, the company said it is talking with various groups regarding its ability to provide technical and operational assistance to help develop biomass facilities.

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