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Clenergen Corporation: Clenergen Corporation (OTCBB: CRGE) Announces Agreement for the Production and Supply of Biomass Feedsto

^{Published on 2009-08-20 12:29:35, Last Modified on 2009-08-20 12:29:39 - Market Wire}
 

NEW YORK, NEW YORK--(Marketwire - Aug. 20, 2009) - Clenergen India Private Limited, a wholly owned subsidiary of Clenergen Corporation (OTCBB:CRGE), has executed a binding Memorandum of Agreement (MOA) with Growmore Bio-tech Limited ([ www.growmorebiotech.com ]) for the supplies of micro propagated (tissue culture) and nursery hardened planting materials of a specially developed type of [ Bamboo ] (Beema Bamboo) to meet the plantation requirements of Clenergen India to generate [ feedstock ] for its two upcoming biomass [ gasification ] power projects in India of 16MW/Hr in Tamilnadu and 64MW/Hr in Karnataka. Growmore's biotechnology laboratory is capable of producing 100,000 micro propagated saplings per week from its existing inventory of Beema Bamboo mother stock.

Beema Bamboo is an exceptional variety of Bamboo developed by Growmore which provides high yields of biomass per acre of plantation from the second year and produce 10 or more new shoots every year which can be harvested and utilized as feedstock. Beema Bamboo has the most desired thermal characteristics for the purposes of gasification with a calorific value exceeding 17Mj/Kg.

The agreement also covers the proposed supplies of Beema Bamboo for the plantation requirements of Clenergen Corporation in Ghana where Clenergen proposes to set up plantations to deliver feedstock for its proposed power stations in this region. The Company is planning to install a 56MW power plant under a Public Private Partnership (PPP) agreement with the Ghana Government and a 16MW per hour power plant for direct consumption by a major mining company.

Growmore will develop newer varieties of Beema Bamboo under a comprehensive research and development agreement with Clenergen to provide higher yields per acre of plantation and such varieties will remain exclusive to Clenergen worldwide.

Commenting on the MOA, Dr Arvind Pandalai, Non-Executive Chairman of Clenergen Corporation said" This Agreement with Growmore provides Clenergen the production capabilities and biotechnology experience to begin execution of its biomass feedstock cultivation program and create significant cost efficiencies and additional profitability under the Power Purchase Agreement signed with the Power Trading Corporation of India Limited (PTC)".

Notice Regarding Forward-Looking Statements

This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to our ability to complete the acquisition and establish our company as one of the leading biomass power general companies globally.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with clean technologies; changes in the operating costs and changes in economic conditions and conditions in clean technologies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our current and periodic reports filed from time-to-time with the Securities and Exchange Commission.

About Clenergen Corporation

Clenergen Corporation is a publicly listed company on the OTC stock market (symbol CRGE). Clenergen offers strategic Clean Energy Generation projects to address the requirement for [ renewable ] and sustainable supplies of electricity. Clenergen has developed a unique modular system of co-gasification and localized plantation management using proprietary and mixed [ biomass ] feedstock to implement sustainable supplies of clean energy to regional, independent clients and national grids. The "Distributed Environmental Power System" marries significant proprietary advancements in plant science with proven long standing engineering technologies to achieve this goal. [ www.clenergen.com ]