Clean Vision Corporation announced that its wholly-owned subsidiary, Clean-Seas West Virginia, Inc., has secured a $15 million bridge loan. This funding is designated to finance the Clean-Seas West Virginia clean energy project currently under development in Quincy, West Virginia. The loan is backed by a guarantee from the West Virginia Economic Development Authority and a letter of credit/completion bond issued by UPS Industrial Services (UPSIS).
The $15 million bridge loan is a critical financial injection that will propel the clean energy initiative forward. It provides the necessary capital to advance the construction of the West Virginia Facility. Construction on the facility is currently set to begin in November 2024, aligning with the company's development timeline.
This financing demonstrates significant support from both state authorities and a key industrial partner, underscoring confidence in the project's viability. Securing this funding is essential for Clean Vision to meet its operational milestones and expand its waste-to-value capabilities in the United States.
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