Cleantech Transit, Inc. (OTCPK:CLNO)
With rising fossil fuel prices and growing environmental concerns, biomass energy systems are reclaiming their positions in schools, factories, military bases, and community energy plants. Given the age of the industry, it is not surprising that the technologies for converting wood to energy are well established. Whether for space heat, process heat, or electricity production, no other type of fuel has been used successfully in more types of system designs.
Previously, 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, Cleantech Transit 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=14567 )