Mr. Akshay Dubey reports

CVW CLEANTECH ANNOUNCES RECEIPT OF MULTIPLE PROJECT FINANCING SUPPORT LETTERS

CVW Cleantech Inc. has received significant initial interest from prospective financial institutions, including Canadian and global institutions, to provide project financing for the potential development of a Creating Value from Waste (CVWTM) project. To date, CVW Cleantech has received five non-binding expressions of interest totalling $625-million in aggregate for a potential project advancing a critical pillar of the financing requirements for commercialization of the CVWTM technology. These expressions of interest are subject to a variety of conditions including achieving additional commercial milestones, satisfactory due diligence and the entering into of definitive documentation.

CVW Cleantech's chief executive office, Akshay Dubey, said: "Receipt of project financing support letters is a significant step towards the development of a first CVWTM project. Our board of directors and executive team are extremely pleased with the quality relationships established with potential credit providers and the progress of project financing discussions. The quality of financial institutions and volume of support received further validates the strong underlying economics associated with our technology along with the extensive environmental benefits which would be achieved through a CVWTM project implementation."

This project financing is intended to support a potential first of its kind CVWTM implementation at a host oil sands mining site. On an annual basis, the implementation of CVWTM's EcoBase development option could be expected to:

• Recover 2.2 million barrels of hydrocarbons (1.9 million barrels of bitumen and 300,000 barrels of solvent);

• Abate between 380,000 to 850,000 tonnes of CO2 equivalents, primarily methane;

• Eliminate up to 5,000 tonnes of volatile organic compounds (VOCs);

• Potentially elimination tailings pond growth due to froth treatment operations; and

• Generate annual revenues of $248-million within the province of Alberta.

Diverting the froth treatment tailings stream to a CVWTM EcoBase operation could recover up to 90 per cent of bitumen and solvent that are currently lost into tailings ponds, and avoid the associated fugitive methane emissions. This patented and ready-to-deploy process would produce ready-to-reclaim tailings to meet the Alberta Energy Regulator's directive 85 standards which would provide a step change in tailings management and allow for progressive remediation.

Mr. Dubey continued: "We would like to extend our sincere thanks to the financial institutions who have offered their financing support and look forward to continued engagement as we proceed towards a potential CVWTM project. These non-binding commitments provide the company and its partners with a high degree of certainty around financing a potential CVWTM implementation. With this important milestone achieved, the management team will continue to focus on securing additional commercial commitments and advancing our technology towards commercialization."

About CVW Cleantech Inc.

CVW Cleantech is a clean technology innovator working to develop sustainable technology solutions. The company has developed a suite of proprietary technologies called Creating Value from Waste that recover bitumen, solvents, critical minerals and water from oil sands froth treatment tailings while significantly reducing tailings pond emissions and enhancing tailings management. CVW Cleantech has invested over $100-million and over 15 years to advance the CVWTM technology to ready-to-deploy status. This technology has been supported by large-scale integrated piloting and progressive commercial engineering studies resulting in 20 active patents. The development of the company's technology has been supported by the government of Alberta and the federal government along with oil sands industry partners.

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