BurTech Acquisition Signs LoI for Business Combination with CleanBay Renewables

The Board of Directors of CleanBay believes that the business combination with BurTech is beneficial and consistent with the company's development. 

Executives believe the new company will have the opportunity to make a meaningful contribution to the climate and energy transition and is in the best interest of CleanBay shareholders.

Thomas Spangler, Executive Chairman of CleanBay, said: "We believe that our process can improve the air, soil and water quality around the facility. In addition, our renewable energy products are sustainable and environmentally friendly ways to reduce emissions and provide automotive fuel, residential use , electric vehicle charging and hydrogen production. We believe our project can help address U.S. climate policy goals and multiple United Nations Sustainable Development Goals."

Donal Buckley, CEO of CleanBay, said: "Our process converts agricultural by-products into high-quality fertilizer and returns it to the farming community, further supporting crop growth and improving soil health. As new facilities continue to be developed, we hope to become the nation's premier single source of climate-friendly fertilizers.”

Shahal Khan, Chairman and CEO of BurTech, said: "We are delighted to partner with CleanBay and believe that access to capital markets will help commercialize and scale CleanBay's proprietary and patented processes. We look forward to working with CleanBay's management team to jointly Complete this business combination. CleanBay's 'start-ready project' presents an attractive investment opportunity for current and future shareholders."