Cleango signs JV, investment LOI with Agritech

Executive Summary

• Cleango Innovations Inc. and Agritech B.C. have executed a non-binding Letter of Intent (LOI) to form a 50/50 joint venture for the co-development, global marketing, and commercialization of Agritech’s proprietary bioremediation technologies.
• As part of the proposed transaction, Cleango intends to acquire a 49% ownership stake in Agritech B.C.
• The joint venture will focus on scaling three specific biotechnologies: MycoSet, BioIngress, and PhytoCentra, targeting the global environmental remediation market.

Key Details

• Transaction Structure: Non-binding LOI for a 50/50 joint venture and an arm's-length agreement where Cleango proposes to acquire a 49% stake in Agritech B.C.
• Conditions Precedent: Transactions are subject to successful due diligence, negotiation of definitive agreements, and board approvals.
• Target Technologies: The JV will scale three proprietary biotechnologies:
  • MycoSet: A fungal-based microembolization platform for soil and water restoration.
  • BioIngress: A microbial enhancer to accelerate the degradation of environmental contaminants.
  • PhytoCentra: A plant-derived biosurfactant to improve pollutant bioavailability.
• Market Context: The global bioremediation market is valued at $19.8 billion (USD) in 2025 and is forecasted to reach $59.5 billion (USD) by 2034 (CAGR of 13.0%).
• Strategic Roles: Cleango will leverage its international distribution network to lead marketing in the US, Europe, Canada, South America, and the Middle East. Agritech will provide scientific platforms and applied agricultural knowledge.
• Governance: A joint board of directors will be established with two members appointed by each company.
• Resource Sharing: The parties will jointly share facilities, technical staff, laboratories, and field-testing infrastructure for R&D and deployment.
• Intellectual Property: Both parties will share intellectual property rights for new or derivative technologies developed through the collaboration.

Notable Quotes

• Anthony Sarvucci, Founder and CEO of Cleango Innovations: "This partnership is transformative as it provides Cleango with an immediate and high-impact entry point into the multibillion-dollar global environmental remediation market while significantly expanding our green portfolio... We are committed to funding the development and patenting of these next-generation green solutions."
• Adam Sexsmith, Agritech B.C.: "Joining forces with Cleango offers the critical funding and commercial infrastructure needed to transition our proprietary science from lab-tested and field-tested success to global commercial deployment... enabling us to set a new standard for sustainable remediation worldwide."