Clean Vision Corp (OTCMKTS: CLNV) announced that its subsidiary, Clean-Seas filed ‘Method and Apparatus for plastic waste recycling’ for the intellectual property of its technology on August 24. In addition, the holding firm that operates sustainable technology and green energy business, Clean Vision, acquired a patent with the United Nations for the technology and trademark office covering its PCN.
The patent application covered the terms from the evolving market countries, waste plastic stockpiles collected through the assistance of blockchain-based technology to convert the waste into a high-value and economically friendly commodity. According to McKinsey & Co., by 2030, plastic recycle and reuse could make a profit growth of over $60 billion for the plastic and petrochemical sectors. Moreover, in 2017, China closed its borders and implemented its national sword policy to import plastic waste and other waste recycling materials. However, this implementation created a crisis for developed nations that used China as its discard ground. Therefore, PCN was made to resolve the global issue that countries have no more extended place to export their recyclable products.
Plastic Conversion Network is designed to
-To store, secure, and developed countries’ plastic waste products by using pyrolysis technology to recycle the waste plastic.
-Generate clean fuels and environmentally friendly goods.
-Reduce waste discard into lands and polluting oceans and rivers.
-Reduce the fossil fuel impacts
-Helping developing countries to establish waste recycling
-Use Blockchain data for exchange data, inputs, and outputs.
Dan Bates’s Statement
Chief Executive Officer of Clean Vision, Dan Bates, comments that the Clean-seas subsidiary created PCN technology to solve a tremendous global problem. Millions of waste products hold a high energy content and produce high environmentally friendly goods for the company; moreover, developed countries and the host nations will accept this valuable waste stream process. Also, using blockchain technology to manage the network, Bates said they improve efficiency, transparency, and operational processing costs and increase profitability. Moreover, the company discusses with several host countries, expects to declare deals to host waste products, and starts processing the plastic by year-end.