About Cleantech Transit - Cleantech Transit Inc. originally only aim was to develop opportunities utilizing advances in technology and manufacturing processes in order to develop significant market share in the growing clean energy public transportation sector.
With the growth in the green sector as a whole the Company has expanded its focus to invest directly in specific projects that will maximize shareholder value. Recent advances in the technology of converting wood waste into power have so greatly enhanced the economic value of their systems they have launched the biomass division as a separate company, Phoenix Energy, to focus exclusively on generating greater returns for manufacturing clients worldwide.
February 11 - Cleantech Transit Signs Agreement to Acquire a 25% Interest in a Fully Constructed, 500-Kilowatt Biomass Project in California
Company Marks Entry Into U.S. Biomass Alternative Energy Sector
Cleantech Transit Inc. ("Cleantech") (OTCBB:CLNO - News) announced today that it has successfully signed a term sheet with Phoenix Energy (www.phoenixenergy.net), a manufacturer and distributor of biomass-generated power plants. Under the terms of the agreement, Cleantech has an option to acquire a 25% interest into Phoenix Energy's asset base, which includes a fully constructed, one-half megawatt (500 kilowatt) biomass energy project located in California.
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