Attached files
| file | filename |
|---|---|
| 8-K - HNO International, Inc. | v200887_8k.htm |
| FOR IMMEDIATE RELEASE |
November 3,
2010
|
Contact:
Jessica
Hatfield
Tel: 0044
(0)207 739 0028
Fax: 0044
(0)207 657 3275
www.clenergen.com
CLENERGEN CORPORATION COMMENCE FULL POWER GENERATION AT
IT’S 18MW BIOMASS PLANT WITH ESTIMATED ANNUAL
TURNOVER OF US$ 15 MM
(Chennai,
India -November 3, 2010) Clenergen Corporation (OTC.CRGE-BOERSE
FRANKFURT 9CE) today announced that it’s 18 MW biomass combustion steam
technology plant situated in Tamil Nadu, India has entered commenced full power
generation on a 24/7 basis.
Clenergen
India Private Limited took control of the 18 MW biomass plant in early October
this year. Repairs were conducted and maximum capacity was achieved upon the
successful launch. The 18 MW biomass plant uses combustion steam technology to
generate power. The process is a low carbon emission, because 90% of the carbon
dioxide that would have been emitted would be already captured by the feedstock
being combusted.
The 18 MW
biomass plant had commenced transmission of power to the grid since its
synchronization on 23rd October
2010. Currently short term power tariffs range from 12-22 cents per KW/h,
however all sales from December 2010-January 2011 is expected to be with PTC
India Limited, as Clenergen has an existing 15 year Power Purchase Agreement
with PTC India Ltd where the average tariff which is likely to be 14 cents per
KW/h, with guaranteed payments each month
At the
projected 80% Plant Load Factor, Clenergen will be able to generate 345,000 KW/h
per day which will fetch potential annual revenue of around US$15 million.
Clenergen will seek to register the project with UNFCCC as a CDM project and
thus leverage the carbon credits generated from the project to increase its top
line by the sale of carbon credits.
Commenting
on the development, Mark Quinn, Executive Chairman of Clenergen Corporation,
said “the commencement of power transmission at our 18MW/h biomass plant right
on schedule marks a huge stride towards our operational goals. It gives a big
boost to the other strategic initiatives that we have taken elsewhere and moves
Clenergen into being a revenue generating company.”
About Clenergen
Corporation
Clenergen
Corporation is a publicly-traded company with its common stock quoted on the
Over-the-Counter-Bulletin Board (OTC.CRGE-BOERSE
FRANKFURT 9CE). Clenergen offers strategic clean energy
generation and supply of biomass feedstock to address the requirement for
renewable and sustainable supplies of electricity. Clenergen has
developed a unique modular system for gasification and localized plantation
management. Clenergen also plans to provide biomass feedstock for producing wood
pellets for co firing with coal to produce low emission
electricity.
Clenergen
Corporation intends to use proprietary and mixed biomass feedstock to implement
sustainable supplies of clean energy for captive end users, islands,
mining companies, government or privately owned power grid systems
and other end users. The "Distributed Environmental Power System"
marries significant proprietary advancements in plant science with proven long
standing engineering technologies to achieve this goal. For further
information on Clenergen Corporation and its products and services, go to:
www.clenergen.com.
Notice
Regarding Forward-Looking Statements
This
press release contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 (the “Securities Act”) and Section 21E of the
Securities Exchange Act of 1934 (the “Exchange Act”). To the extent
that any statements made in this press release contain information that is not
historical, these statements are essentially
forward-looking. Forward-looking statements can be identified by the
use of words such as “expect,” “plan,” “will,” “may,” “anticipate,” “believe,”
“should,” “intend,” “estimate,” and variations of such
words. Forward-looking statements are subject to risks and
uncertainties that cannot be predicted or quantified and, consequently, actual
results may differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
without limitation, those risks and uncertainties contained in this press
release and those identified in the periodic reports that the company files with
the Securities and Exchange Commission (the “SEC”) pursuant to the Exchange
Act.