Byzen Digital Inc. announces that it has acquired a 100 percent interest in Clean-Seas Inc., pursuant to the exchange agreement dated May 19, 2020. Clean-Seas is a technology driven solutions provider for waste plastic recycling with offices in the U.K., California, New York and India. The Company has developed relationships with governments, municipalities and corporate stakeholders around the world from which it expects to begin providing plastic recycling solutions to meet the needs of the specific customer.
Byzen Digital acquired Clean-Seas in order to have a foundation to build upon in the sustainable energy sector. Byzen believes that in the near term, a significant growth sector of the economy will be in clean energy and sustainable products and services, which was a key driver for this acquisition.
The global waste plastic problem continues to grow unabated with America generating approximately 10.5 million tons per year, while only recycling approximately 2 percent. Seasteward.org also states that over 14 billion pounds of plastic waste ends up in the world’s oceans, primarily from 10 rivers. The Clean-Seas mission is to establish plastic recycling facilities around the world to stem the flow of plastic that ends up in the world’s oceans by developing a robust network of on-land recycling and processing facilities in emerging and developed nations. The Company is working with technology providers that process mixed waste plastic, recycling it into clean burning fuels and generating clean electricity. The recycling of waste plastics into fuels and electricity adds to the circular economy and the Company expects to employ local residents in underserved economies providing economic opportunity and improving quality of life.
Chris Percy, President of Byzen Digital, announced the acquisition to its shareholders stating, “Clean-Seas plans to bring new recycling technologies to bear on the global waste plastic crisis and we could not be more thrilled with the closing of this acquisition. This marks an important step forward for the Company and opens up global opportunities for growth and revenue generation.”
Subject to available capital, Byzen says it will be adding to its team attracting technical expertise in project management, international business development, finance and waste handling and management. In addition, the Company expects to add a robust team for data collection and data management, enabling Byzen to accurately account for the waste plastic being processed and the clean energy and fuels being created, leading to new lines of revenue opportunities.