Business & Finance
Business and Finance
Business and Finance
Tue, September 29, 2009 Clenergen Corporation: Clenergen Corporation (OTCBB: CRGE) Announces Land Leases in India for Biomass Plantations for the Produ
NEW YORK, NEW YORK--(Marketwire - Sept. 29, 2009) - Clenergen Corporation today announced that it has secured long term leases (25 years) on plantation land parcels in the Tirunelveli District of Tamilnadu for cultivation of its feedstock. On the first parcel of 850 acres, work is already under way for a detailed survey prior to designing the irrigation system and commercial planting. The lease has been provided by Emberumanar Jeer Trust, a body regulated by the Government of Tamilnadu.
A second land parcel lease of 1200 acres from a similar Government of Tamilnadu managed Trust will be closed by October 30th 2009, after completion of the formalities relating to contour mapping. Clenergen plans to cultivate [ Beema ] Bamboo over these land parcels following a detailed assessment of the soil conditions and water availability. Beema Bamboo planting will commence in November 2009 since the plant is not affected by the monsoon rains.
The expected yield per annum is 80,000 Metric Tonnes, enough to meet the requirements of the first 8MW unit of the 16 MW power stations Clenergen is establishing in Tuticorin, Tamilnadu. Clenergen has leased a 10 acre site for the power plant which includes structural buildings suitable for storage. The power plant is located within 2KM of a major highway and within 10 Km of the nearest substation for power evacuation.
The entire feedstock requirement of Clenergen's 16MW [ power plant ] in Tamilnadu would be met from its own plantation lands. Until the harvests commence, Clenergen has secured midterm supply contracts for biomass wood chips sourced from Prosperous Juliaflora bushes, in order to meet the feedstock requirement in Tamilnadu.
Commenting on the land leases, Mark Quinn, CEO stated " Execution of our feedstock program is a critical component in meeting the supply requirements of our Biomass power plants. By securing lease agreements at this stage allows the company to immediately start planting Beema Bamboo which will yield its first harvest in 2011".
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.
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 ]
Notice Regarding Forward-Looking Statements
This press release 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 cultivate Beema Bamboo in India on a large scale and to establish our company as one of the leading biomass energy generating 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 press 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.
