Cleantech Transit Inc. (CLNO) to Enhance Power Plant Portfolio
Cleantech Transit Inc. (OTC: CLNO) stock is currently trading at $0.08, up 36.75 percent from its previous close of $0.06. The stock today opened at $0.06 and reached the high of $0.085. The stock’s lowest intraday price stood at $0.056. Cleantech Transit announced that it is planning to build and operate new power plants. The company is in the process of revamping its business development plans. Cleantech Transit is also looking for new collaborations in the area of biomass technology.
Cleantech Transit is also said to be engaged in the negotiation process for acquiring large 1 MW plants. The company currently has access to several 1MW and 2MW plants via its existing collaborations. The market value of biomass generated electricity is expected to reach $53 billion by 2020. In 2010, the corresponding value stood at $45 billion. Cleantech Transit claims that newer plants will help it in obtaining steady revenue stream.
Cleantech Transit is involved in the business of building environment friendly green assets. The company is also engaged in the business of generating biomass energy. It also converts wood waste into power. Cleantech Transit was earlier known as Patterson Brooke Resources Inc. and changed its name in April 2010. The company is based out of Las Vegas in Nevada.
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