CleanTech Biofuels Completes Acquisition and Moves to Develop Commercial Site
St. Louis, MO-October 14, 2008 –CleanTech Biofuels, Inc. (CLTH.OB) announces that it has closed the merger of Biomass North America Licensing, Inc. into its wholly-owned subsidiary. Biomass North America Licensing possess the exclusive rights to use a proprietary technology.
CleanTech plans to move quickly to implement its newly acquired technology at a commercial transfer station operating in Chicago, Illinois to produce cellulosic biomass from municipal waste. In cooperation with the owner of the site, the permitting and approval process for construction of the plant is underway.
The cellulosic biomass to be produced at the facility can be used for a variety of purposes, including producing electricity in existing coal-burning power plants. CleanTech has been approached by several utilities who desire to purchase the biomass from the proposed Chicago plant for use in existing power plants.
Recently, Mayor Richard M. Daley announced a plan to dramatically slash emissions of heat-trapping gases, part of an effort to fight global warming and make Chicago one of the greenest cities in the nation. CleanTech’s municipal solid waste to energy platform is a significant piece of fulfilling Mayor Daley’s vision in Chicago as well as helping develop ebergy independence across the United States.
About CleanTech Biofuels, Inc.
CleanTech Biofuels, Inc. is a development stage company with technology that the company believes is capable of converting municipal solid waste into ethanol and other products. By using the existing infrastructure for municipal solid waste collection and disposal to collect biomass at low or possibly negative feedstock cost, the Company expects to achieve profitability quickly relative to other energy producers who must develop their infrastructure to collect and transport more expensive feedstocks such as sugar cane, corn or even switchgrass, wood waste, or corn stover.
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development, and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports. CleanTech Biofuels, Inc.
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