Byzen Digital Announces LOI with Clean-Seas to Create World’s Leading Plastic Recycling Company
28 March 2020
New Waste to Energy Technologies Improve Process and Efficiency
London, UK, March 27, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Byzen Digital Inc. (OTC PINK: BYZN) today announced it has entered into a letter of intent to merge with Clean-Seas, a Delaware corporation, to address the world’s growing waste plastic crisis. Byzen will cease operations as a digital holding company and Clean-Seas will take over the Byzen operations allowing the combined company to focus on the global waste plastic crisis.
Waste plastic affects every country and all major corporations that use plastics in their production or packaging of products. It has been said that by 2050 there will be more plastic in the oceans than fish, with the equivalent of 1 garbage truck full of plastic entering the ocean every minute. Only a small percentage, 8%, of all plastic produced has been recycled, the remainder has been sent to landfills, to incineration or to China. As more and more corporations and countries strive to achieve a “plastic neutral” footprint, Clean-Seas is poised to become the world’s leader in turning waste plastic into clean burning energy.
Clean-Seas is a solutions provider coupling advanced technologies with customer need to solve this growing problem. The Company’s business model takes mixed waste plastic and using advanced pyrolysis technologies, recycles it into commodities for sale such as: clean burning fuels for energy generation, eco diesel, carbon black, and gasses. Additional expected lines of revenue for the Company include: gate fees to accept the waste plastic, carbon credits and plastic credits. The Company has letters of intent for projects in the South Pacific, Asia and Africa.
Clean-Seas was established in 2019 to address the global plastic waste issue on-land, mitigating what waste ends up in the oceans. “90% of the plastic waste in our oceans comes from just 10 rivers in the world,” said Dan Bates, CEO of Clean-Seas. “If we don’t tackle the problem of the waste that is generated on-land, we will never begin to clean up the problem that exists in the oceans; we must shut off the spigot.”
Clean-Seas has established relationships with plastic recycling technology providers and will leverage its global experience in the renewable energy sector to set up waste to energy facilities in emerging and developed nations, all of whom must address their own waste plastic issues. With China having closed its borders to accepting waste plastic under its “National Sword” program, developed nations now must find new ways of dealing with the volume of waste produced annually. The Company will conform to the United Nation’s Sustainable Development Goals (SDG) for waste plastics, clean energy generation and social impact creating a variety of new partnering opportunities for its business model. Using blockchain technology the Company will provide data on all of its facilities to transparently track the volume of plastics being recycled and the output streams generated.
“After meeting with Clean-Seas and understanding the scope of this global problem, and the company’s laser focus on how to address this growing crisis, it was clear to me that Clean-Seas has the right approach and established team to be successful and make a dramatic impact,” said Chris Percy, President of Byzen Digital. “This pending merger will not only be good for the Byzen shareholders, it will be a win for the planet and future generations,” continued Percy.
Clean-Seas is expecting its first deployments to be commissioned and operational by Q4 2020.
About Byzen Digital Inc.
Byzen Digital is a Public company trading on the OTC Pink Current Market and is presently focusing on mergers and acquisitions in high growth industries.
For more information go to: www.byzendigital.com.
About Clean-Seas, Inc.
Clean-Seas, Inc. is dedicated to providing efficient and cost-effective technology solutions that address the global waste plastic crisis, creating economic opportunity and social benefit in emerging and developed economies across the world. The Company will develop socially impactful programs employing local residents lifting them out of poverty and will conform to the United Nations Sustainable Development Goals (SDG). Clean-Seas is driven by the 3P’s, People, Planet and Profit.
For more information visit: www.clean-seas.com
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management’s own knowledge and assessment of the Company’s industry and competition. The company assumes no duty to update its forward-looking statements.
Byzen Digital Inc.