CMG Cleantech S.A.: Q3 update on CMG CleanTech’s open projects in Spain, North Africa and the US

PARIS, 26th July 2023 – CMG CleanTech S.A (“CMG”), a clean energy and technology corporation, provided an update today on four projects announced over the last nine months.

In the first project, CMG’s subsidiary Tech Infinite Ltd entered into initial negotiations late last year with Daza Properties S.L. of Málaga Spain. Daza Properties is a leading residential and commercial construction company with an interest in an extensive luxury development in Ceuta, a Spanish enclave on the coast of Morocco.  When finalised, the agreement is set to see Tech Infinite Ltd installing large-scale solar panel systems for single and multi-family residential structures in the development. 

Project number two is a contract signed in January 2023 between Tech Infinite Ltd and property development company Orlando World Live LLC in Florida for the installation, manufacture and design of renewable energy systems developed by the CMG subsidiary.  The multibillion-dollar project has been delayed while the development company secures the whole of the site’s land purchase by Orlando World Live.  Once   complete, this project is aimed at delivering an entertainment and leisure complex and new commercial sector to downtown Orlando.  

In the third project, also announced in January 2023, CMG agreed to partner with a North African energy company, to build a solar cell factory, which would make CMG the only manufacturer of solar cells in the region. Since that time, further negotiations for a Joint Venture contract have been pursued as terms have expanded to include the construction by CMG of an electric arc furnace to maximise local mineral resources to develop a silicon wafer production plant, the first in the region. The plant will produce silicon wafers for this huge investment into North Africa for PV panel production. 

Finally, in March this year, CMG won a US-based project bid allowing its Joint Venture partner Panacea Global Energy to expand operations in North America with the opening of its first U.S. flagship facility, Green Garden Village in Osceola County.  The Green Garden Village is a multiphase project. Plans, which include the construction of the company’s U.S. headquarters, a research and development facility and manufacturing facilities, have been amended after consultation with the local community which has caused some delay to the planned schedule of work. 

About CMG CleanTech S.A.  

Listed on the Euronext Paris Exchange, CMG CleanTech S.A. (CMG) is driven by a strong, secure ESG strategy – to develop the clean hydrogen and solar technology at its disposal and help countries, organisations and individuals alleviate their environmental impacts and meet ambitious 2050 carbon neutrality goals.  

https://www.cmgcleantech.com/ 

About Tech Infinite Ltd 

Tech Infinite provides home-building and green energy solutions in the belief that sustainable and affordable design, building and electric vehicle charging technologies should be available to everyone, businesses and consumers alike. The company is committed to creating an energy zero impact product range, delivering environment positive outputs from materials used to end of life solutions. 

https://techinfinite.co.uk/ 

Contacts for IR and Media Enquiries: 

[email protected] 

Franziska Grobler Financial Media Group