SACRAMENTO, Calif., March 12, 2004 — Clean Energy, Inc. has cancelled its October 2003 licensing agreement with Universal Electric Power.
Under the provisions of the licensing agreement, several critical items under the heading of “Duties of Licensor” were not completed by Universal Electric Power, according to Clean Energy, Inc.
As a direct result, Clean Energy, Inc. has not been able to be effective in its business relationship with its own third-party clients, nor internally for its own hydroelectric projects, in the territories outlined within the Agreement.
Clean Energy is pursuing other unique clean electrical generating technologies to meet the growing worldwide demand for renewable energy.
Clean Energy, Inc., a Nevada corporation, is a development-stage company formed in 1998 to commercialize innovative technologies in the renewable energy industry. Our business focus is clean pollution-free electricity from innovative alternative energy sources.
Our goals are to acquire technology rights and licenses from patent holders and others, secure market presence, and raise sufficient capital to build, own and operate electrical generating facilities throughout the world.