Vancouver, BC – January 16, 2024 – CleanGo Innovations Inc. (CSE: CGII) (OTC: CLGOF) (FRA: APO2) (“CleanGo” or the “Company”), a leader in green-certified, eco-friendly industrial, commercial, and household cleaning solutions, is pleased to provide a comprehensive corporate update, as well as commercial guidance for H1 2024. The Company is poised for a year of significant achievements and sustainable sales growth while continuing its mission to revolutionize industrial and commercial verticals with eco-friendly cleaning solutions.
“2023 was a year spent building a basis for CleanGo to start a growth trajectory that our shareholders have believed our company capable of for years. Our focus on industrial partnerships and sales has streamlined operations, cut our burn rate, and given us a clear path to profitability for 2024. While the majority of our focus is on industrial, we are not letting our progress on both our commercial and retail relationships dissipate. Through partnerships and more efficient use of capital, we believe these vertices will continue to experience growth in 2024 as well. We are looking forward to having a banner year for CleanGo Innovations and providing excellent shareholder value in 2024.”
Industrial Segment: Exponential Growth and Global Expansion
CleanGo Innovations continues to experience expansion in its industrial segment, with sales of its flagship CG-100 concentrated product increasing from approximately 50,000 litres in 2022 to over 100,000 litres during 2023. For 2024, the Company projects a conservative sales target of 1,600,000 litres of CG-100, primarily to industrial and commercial clientele. Projected sales growth is further bolstered by ongoing global expansion efforts, including LATAM and MENA.
CG-100 is a proprietary, innovative, and green product that the Company believes may be poised to disrupt the oil and gas industry as a unique solution for oil & gas well optimization and downhole cleaning with no certified direct competitors. Further, CleanGo is preparing case studies and testimonials to showcase the versatility of CG-100 in various industrial applications, including asphalt, concrete, and other commercial uses. These will be featured on the newly launched and rebranded website: https://www.cleangoinnovations.com
Commercial Sector: Diversifying and Expanding Partnerships
In the commercial sector, CleanGo is actively collaborating with a portfolio of companies across diverse verticals, including travel, festivals, and commercial janitorial services. CleanGo takes pride in its commercial cleaning products, uniquely certified by Green Seal, Health Canada, FDA, and Leaping Bunny, setting them apart from competitors who may engage in perceived 'greenwashing.'
Retail Focus: Strategic Shift and Innovative Developments
While continuing to grow in the retail sector, CleanGo Innovations is strategically shifting its focus toward the more profitable industrial and commercial verticals in 2024. The Company is exploring collaborations and white-label opportunities to expand its retail presence with minimal financial impact. CleanGo is also pleased to share it has developed and is ready to launch a new disruptive green cleaning product, with plans to announce the product in Q1 2024, alongside accretive partnerships.
Miscellaneous Endeavors: Enhancing Operational Efficiency
CleanGo is leveraging its new Conroe, Texas manufacturing, distribution, and warehouse facility. The Company is currently negotiating an agreement to subcontract machine downtime, a move expected to bring the company to cash-positive operations in early 2024.
CleanGo Further Announces Agreement with Summit Ventures
The Company has entered into an agreement with Blue Summit Ventures, an arm's-length party to the company, to provide marketing services to enhance its social media and digital marketing functions.
Blue Summit will oversee the Company’s social media campaigns, harnessing the power of various platforms to raise awareness of CleanGo, engage with stakeholders, and communicate the Company's ongoing advancements in the sustainable performance cleaning market segment. Blue Summit has agreed to provide digital communications services to the company in exchange for an aggregate amount of $50,000 plus applicable taxes. The services will include continuing social media consultation regarding engagement and enhancement, social sentiment reporting, social engagement reporting, and corporate video dissemination.
The initial term of the Blue Summit agreement is for a period of six months. As of the date hereof, to the Company's knowledge, Blue Summit (including its directors and officers) does not own any securities of the Company.
About CleanGo Innovations Inc.
CleanGo Innovations is a dynamic and forward-thinking company dedicated to developing and distributing a range of innovative, green-certified, environmentally friendly cleaning solutions. With a focus on sustainability and efficiency, CleanGo is committed to transforming the cleaning industry through its green-certified products.
The Canadian Securities Exchange and Information Service Provider have not reviewed and do not accept responsibility for the accuracy or adequacy of this release.
On behalf of the CEO & Board of Directors
Anthony Sarvucci
Chief Executive Officer
CleanGo Innovations Inc.
For More information Contact:
Phone 1 346 202 6202
Forward-looking Information
This news release may contain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation. Forward-looking statements can often be identified by words such as “will”, “plans”, “expects”, “may”, “intends”, “anticipates”, “believes”, proposes” or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Actual results could differ from those projected in any forward-looking statements due to numerous factors, including risks and uncertainties relating to general economic, market or business conditions or changes in laws, regulations and policies affecting the Company’s operations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. Any forward-looking statements included in this news release are made as of the date hereof and the Company does not intend to update or revise any forward-looking statements, except as expressly required by law.