Klean Industries & City Circle Group Join Forces to Build a

VANCOUVER, British Columbia, Nov. 28, 2022 (GLOBE NEWSWIRE) -- Klean Industries Inc ("Klean") is pleased to announce that it has partnered with City Circle Group ("CCG") to build a fully integrated, continuous tyre pyrolysis plant to recover carbon black and biofuel in Melbourne Australia. Like Klean Industries, City Circle Group ("CCG") is a well-established family-run business. CCG was founded in 1981 and has built a reputation as a leading provider in demolition, decommissioning, remediation, excavation, and recycling in Australia. In doing so, CCG converts all the waste into new building materials and commodities for reuse.

Klean and CCG have been working together in the planning of a project in Melbourne for the past twelve months and have been engaged in the final analysis of a Detailed Feasibility Study ("DFS") to design and build a fully integrated tire pyrolysis plant. The result thus far has illustrated a significant opportunity and the parties are now in the final phases of contract negotiations with feedstock providers and offtake parties for all the project output products which are being pre-sold.

Both CCG and Klean see the prospects of this project playing a significant role in creating a circular economy within the region as it addresses several key issues designated under the United Nations Sustainable Development Goals ("SDG") and will create economic opportunities and environmental benefits for the local economy in Melbourne. The parties plan to complete the DFS by the end of December 2022 and anticipate the project being financed before the end of the first quarter of 2023, with construction taking place in 2023 and operations starting in 2024.

About City Circle Group

Established 40 years ago, City Circle Group, is still a wholly owned and operated family business. CCG has built a reputation as a leading provider in demolition, decommissioning, remediation, and recycling in Australia. It has grown to offer a diverse range of expert services tailored to each project and through a ceaseless commitment to every client along the way. CCG constantly strives for innovation and best practice with its core principles focused on expertise, sustainability, and safety while delivering the highest level of service to its clients and the environment.

City Circle currently employs over 150 highly experienced professionals and a range of machinery and equipment. In 1999, we established City Circle Recycling (CCR) to complement our demolition operation and advance our 'zero-waste' ambitions. Since then, it has grown from a one-facility operation turning over 3,000 tons per month to three facilities across Melbourne, producing well over a million tonnes of building materials from the very waste its demolition activity generates.

For more information about City Circle, please visit www.citycirclegroup.com.au

About Klean Industries

Klean Industries ("Klean") provides best-in-class technologies and solutions in the waste-to-value industry. Our international team of award-winning experts has decades of experience in the design, engineering, and manufacturing of the highest-quality equipment to convert waste streams into valuable energy and resources. Klean's unique products and services are a result of combined knowledge in the design of recycling, resource recovery, waste management, and power generation projects. Our global project management expertise safeguards timelines and budgets enabling projects to be delivered in less time and at lower costs.

Klean uses proprietary technologies to rapidly develop projects that produce the highest quality fuels, recovered carbon blacks, and green hydrogen from various kinds of feedstocks. Our know-how and skillfulness provide a specialization in building projects that use advanced thermal technologies such as pyrolysis, gasification, and carbonization, which convert end-of-life tires, waste plastics, and municipal solid waste into domestic energy, sustainable commodities, and new cleantech jobs. We create a symbiosis between waste, resources, and energy. Klean Industries is the link between the low carbon, circular economy, and the goal of zero waste to landfill.