Cleantech Transit, Inc. (CLNO)
Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company's ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
Biomass is the organic matter in trees, agricultural crops and other living plant material. It is made up of carbohydrates - organic compounds that are formed in growing plant life. Ever since the earliest inhabitants of the region burned wood in their campfires for heat, biomass has been a source of energy for meeting human needs in the Pacific Northwest.
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October 6th, 2011 at 01:49 pm