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Clenergen Signs Licensing Agreement Targeting the Renewable Energy Markets in the USA

Clenergen, based out of Florida is a recent entrant in the biomass based IPP space and has rapidly been signing on new projects. The company a couple of months back  had announced the signing  of yet another agreement, this time to Operate a 27MW  Biomass Power Plant that is expected to be fully operational by first quarter 2011.

The company  had recently entered into an agreement with Yuken India Limited to Install a 4 MW/h Gasification Power Biomass Plant operating on gas engines at their manufacturing facility in Bangalore, India. The company had been in the news a few months ago for acquiring 5000 acres on a long lease for a 32 MW project and had gotten into contracts for plantation trails recently.

Earlier Clenergen announced the commencement of the full power generation of their 18MW combustion steam technology plant situated in Tamil Nadu.

Clenergen  is also one of the first American companies in India, that has undertaken Bio-fuels and plantations with agronomy management services from local universities and biotech companies in India that seems to have helped it address the feedstock risk in biomass projects.

The company announced yesterday, that it had executed a License Agreement with Biopower Corporation to utilize Clenergen’s IP and begin operations in the United States.

Biopower will provide all the project development and funding required in order to establish a market presence in the US renewable sector.

Clenergen with earn income streams from royalties on projects implemented and through government funded incentive programs.

Biopower was formed specifically to leverage on the business and financial experience of its officers, directors and advisors and their expertise in structuring Joint Ventures and finance for projects based in the USA.

Mr. Robert Kohn has taken up the position as CEO who until recently was Clenergen’s Non Executive Chairman.

Commenting on the Agreement, Mark Quinn, Executive Chairman of Clenergen Corporation, said “This Agreement provides Clenergen the opportunity to capitalize on its commercial assets in the US renewable energy sector, while retaining our core focus on executing the projects we have now established in India, Ghana, and the Philippines. The synergy between our companies was designed to maximize shareholder value for all involved. The management team assembled at Biopower will enable us to rapidly accelerate the commercialization of this license.”

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