A Clean Tech Stock in the News; Cleantech Transit Inc. (CLNO)

Cleantech Transit Inc. (OTC:CLNO) has been one of the biggest gainers on the OTC market this week. The stock has posted gains of more than 200% this week.

So what is driving CLNO shares higher?

Cleantech shares have been gaining momentum after the company this week said adopted a new business development strategy. CLNO said that this week that it now plans to focus primarily on biomass power generation.

The decision to focus primarily on biomass power generation has been taken to add to the success achieved so far from the 500 KW Merced County biomass power plant. The pilot biomass plant in Merced County has exceeded CLNO’s expectations. The company believes that the plant has the potential to generate substantial revenue once it moves in full scale commercial production.

Cleantech is looking to replicate the success it achieved with the pilot plant by increasing its participation level in a number of other alternative energy power plants.

CEO Kenneth Bosket noted that CLNO’s participation in the Merced County power plant has created a number of other opportunities in the biomass space. Bosket said that CLNO plans to assess all the opportunities as it looks to enhance shareholder value.

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