DRP Journal

Discover Research Profit

Finance 

Clean Vision Corporation (OTCMKTS:CLNV) Stock Surges After Announcing a key Agreement

Ash K , , , ,

On Monday, the Clean Vision Corporation (OTCMKTS:CLNV) stock had emerged as one of the major movers in the market as it ended up with gains of as much as 12% amidst heavy interest. The stock came into focus among investors yesterday after the company announced that Clean Seas Inc, its fully owned subsidiary unit, had inked a letter of intent with the firm MacVallee LLC.

Trading Data

On Monday, CLNV stock moved up 12.41% to $0.0317 with more than 5.03 million shares, compared to its average volume of 1.78 million shares. The stock moved within a range of $0.0280 – 0.0350 after opening trade at $0.0290.

Clean Vision’s Clean-Seas Inks Agreement to Establish Second Planned U.S. Plastics Conversion Facility; Clean-Seas Partners with Plastics Recycler for $20M Massachusetts Co-Location and Feedstock

As per the terms of the agreement, the entities are going to be involved in the establishment of a co-located Clean Seas unit in Central Massachusetts. The facility in question is going to be involved with the diversion of ocean bound and industrial plastic from landfills and then convert those into precursors for new plastics, pyrolysis fuels, AquaH, which is the branded hydrogen from Clean Seas and low sulphur fuels.

In this regard, it should be noted that the site had been purchased by MacVallee earlier on in the year and the company would be working on the development of a complementary recycling facility at the same location. It was further noted that MacVallee expects revenues generating operations to beging at the site at some point in the first quarter of 2023.

Key Quote

“Our combined efforts will ensure that every scrap of plastic finds a beneficial use, on one site,” said Daniel McLaughlin, president of MacVallee. “We are excited to partner with Clean-Seas.”

Technical Data  

CLNV stock is trading above the 20-Day and 50-Day Moving averages of $0.0243 and $0.0196 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0281.