CleanGo Innovations Inc. (CSE: CGII) (OTC: CLGOF) (FRA: APO2) announced that its wholly owned subsidiary, Kubera Black Energy, has officially launched its global Gain of Revenue (GOR) program. The program offers oil well operators an environmentally friendly solution with zero upfront chemical costs, aiming to increase production while protecting baseline revenues.
Under the GOR model, Kubera Black Energy assumes 100% of the upfront chemical cost and risk. Operators retain all revenue from their baseline production, which is established through audited history. For instance, if a well produces 20 barrels per day, that output remains untouched. Any incremental production resulting from the application of CG-100, a certified green chemistry, is shared on a collaborative revenue basis. Operators maintain full control by using their own field crews for implementation, with Kubera only providing engineering support and the proprietary chemistry upon request.
CG-100 is positioned as a safer alternative to traditional methods like acid washes or hot oiling. It utilizes advanced green emulsification and targeted structural breakdown to permanently address downhole bottlenecks such as macrocrystalline paraffin waxes, asphaltene aggregations, and organic binder scales. The technology lowers interfacial tension, alters wettability to a water-wet state, and encapsulates wax molecules in stable micelles to ensure permanent fluidization.
In a separate development, CleanGo intends to close a non-brokered private placement of up to 974,025 units at $0.77 per unit, for gross proceeds of approximately $750,000. Each unit comprises one common share and half a warrant, with each whole warrant exercisable at $0.85 per share for two years. Proceeds will be used for general working capital and corporate purposes. The offering is subject to regulatory approval, including from the Canadian Securities Exchange, and securities issued will have a statutory hold period of four months and one day.
The launch of the GOR program and the private placement signal CleanGo's strategic push to scale its green oil production solutions globally. By removing financial barriers for operators and offering an environmentally certified product, the company aims to tap into the growing demand for sustainable energy practices. The capital raise will support these efforts, ensuring the company can continue to develop and market its technologies.
For more information on the GOR program, interested parties can visit the official web portal at www.kuberablackenergy.com.
