Clenergen Corporation is a publicly-traded company with its common stock quoted in the USA on the OTCQB Market (Symbol: CRGE) and in Germany on the First Quotation Board, Open Market of the Frankfurt Stock Exchange (Symbol: 9CE) Clenergen offers strategic clean energy generation and supply of biomass feedstock to address the requirement for renewable and sustainable supplies of electricity.
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 in December last year had announced the signing of an agreement, to Operate a 27MW Biomass Power Plant that is expected to be fully operational by first quarter 2011.
The company had earlier 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 in May last year for acquiring 5000 acres on a long lease for a 32 MW project and had gotten into contracts for plantation trails for the same.
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.
According to the company, Clenergen has spent the last two years working with the Government to demonstrate the economic and regional benefits for the direct cultivation of feedstock, in order to guarantee a cost effective supply of biomass to small biomass power plants, located in close proximity to the plantations. The business model was accepted as a tangible way to reduce the country’s power shortages, whilst providing social economic benefits to the rural areas of India.
The tree and bamboo species which Clenergen has invested over 5 years of research and development have now been identified as being suitable as dedicated energy crops for degraded lands. The government has acknowledged that biomass power plants can provide five times the output of electricity when compared to solar power plants.
Commenting on the announcement, Mark Quinn, Executive Chairman of Clenergen said “The decision by the Union government to support rural electrification projects supported by designated energy crops is a major decision that has been taken. The establishment of a government policy for biomass and utilization of government owned degraded land will allow Clenergen to compete with wind and solar power, as a viable and profitable alternative source of renewable energy on a large scale. This will have a major impact on our business in India”.