Clean Energy, Inc. and EF System Corporation of Korea Mutually Cancel 2005 Agreement.SACRAMENTO, Calif. -- On December 8, 2005, Clean Energy, Inc. (Pink Sheets: CLER CLER Comité de Liaison Energies Renouvelables (French: Committee of Renewable Energy) CLER Clerical CLER Council for LAB/LAS Environmental Research CLER Classification and Labelling of Explosives Regulations 1983 ) had acquired exclusive rights from EF System Corporation of Korea under a Licensing Agreement for its proven emulsified fuel mixing technology. The exclusive area included North, Central, and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , plus Germany. The EF system blends approximately 20% water and 80% heavy fuel oils (including Bunker C) with a proprietary additive to create a stable cleaner burning fuel. On October 19th, 2006, Clean Energy, Inc. and EF System Corporation mutually cancelled said exclusive licensing agreement. Both parties agreed to continue cooperating on future projects on a case by case basis. The management of Clean Energy, Inc. feels the technology is exceptional and it has great potential in several markets. However, market circumstances in 2006, including volatile high energy prices and restricted heavy fuel supplies, limited the technologies' introduction in targeted Canadian electrical generating applications under consideration by Clean Energy, Inc. Clean Energy, Inc. will continue to have access and encourage the use of the technology from EF System Corporation for its own clients and potential internal projects. Clean Energy, Inc., a Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. , is a development stage company formed in 1998 to commercialize innovative technologies in the renewable energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. industry. Pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. definitions and provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, this web site contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Such statements use words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. not directly supportable as statements of present fact. Such forward looking statements are subject to certain risks and uncertainties, including, among other things, the company's business conditions, the general economic environment, reliance on performance by third parties, etc. These and other risks, uncertainties and additional factors could cause actual results to differ materially from those projected. |
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