In this update, we wanted to shed some light on the development of the physical side of the CleanCarbon project. This post is divided into sections, discussing the most important things that happened in the last couple of weeks.
To summarise, nothing fundamental has changed; we are still building everything as planned, but some of the project’s elements are subject to delays caused by the current situation in the world, the financial bear markets, and the fact that our installations are dependent on third parties facing price increases and supply chain problems. However, rest assured that our team works around the clock to promptly deliver all elements of CleanCarbon’s roadmap. Potential delays were considered before, and appropriate measures were taken to ensure the project’s longevity regardless of some things outside our control.
So, without any further ado, here’s where the physical part of the CleanCarbon project stands right now and what is coming shortly.
Our CEO Udo, head engineer Camino, and a few other strategic business partners, are all getting ready to visit the UHTG manufacturing facilities in the upcoming weeks. The trip will be well-documented, and its primary purpose is to ensure the installation is ready to be purchased and shipped to us. Once this is established, we will prepare the purchase contract, stating the exact delivery dates, both parties’ responsibilities, and the involvement of Coinvolta in the installation process.
Additionally, CleanCarbon has already signed a pre-purchase agreement and paid a six-digit figure to ensure exclusive rights to visit and purchase one of the first UHTG units commercially available.
The UHTG distributor, Coinvolta, has already listed CleanCarbon as its first client on its website:
As many of you know, we need a government-issued construction license in Parque Tecnologico to start the actual construction. The application, together with the technical plans of the project, was submitted in June 2022. Below we present the technical specification of the submitted Pilot Project installation.
Unfortunately, the monthly board meeting regarding the final approval was postponed twice due to the summer holidays and it’s currently scheduled for September this year. Nevertheless, we are confident that it’s just a matter of time before the official permission from the Parque is given, so we are eagerly waiting for the summer to be over.
CleanCarbon will offer unique solutions to utilize unwanted waste products in collaboration with the best in the business. Our approach is to build a better future together with local companies instead of stepping on other companies’ toes.
In the past several months, we have had multiple talks with several waste utilization companies on the Canarias. These companies have all the required licenses, the means of transportation, infrastructure, and much-needed experience, to help us as partners instead of being competitors.
A couple of days ago, our engineering team Camino, Laura, and Daiko, together with one of our partners, visited the facilities of the leading waste utilization company in Fuerteventura to discuss the fine details of our collaboration. NDA agreements protect the details, but we can present some pictures from the visit, showing the facilities and how we work together with our local partners to offer a real solution to the waste problem.
European Union subventions
Our dedicated partner, Finnova, is still preparing all legal documents to ensure our project fulfills the strict EU requirements. The process takes time because instead of applying for smaller specific grants for the construction of the Pilot Project, we were advised to prepare the project to receive more substantial funds, also for future expansions in the other Canary Islands.
Therefore, we are now applying for several subvention programs between 50k to 15 million to secure multiple grants, which will vastly speed up the project’s growth in many years to come.
This post summarizes our current efforts with the UHTG installations, the deals we are making, and the steps we are taking to complete the processes. Once everything is accomplished, our project will be truly unstoppable, also in the true legal sense. We will update you about the further progress in all these areas once any major deals are completed and the dates are public.