Dallas, Texas (Jun 26, 2011) – Cleantech Transit, Inc. (OTCBB: CLNO) announced on June 26, 2011, it has met its funding requirement to secure the Company’s ability to earn in 25% of the 500KW Merced Project. Cleantech Transit closed at $0.16 on June 23, 2011, trading on roughly 312k shares.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction approximately June 30th. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as we move ahead.
Cleantech Transit, Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects that can maximize shareholder value. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy has to offer.
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