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CLER News Clean Energy, Inc. and EF System Corporation of Korea Mutually Cancel 2005 Agreement

SACRAMENTO, Calif.--(BUSINESS WIRE)--On December 8, 2005, Clean Energy, Inc. (Pink Sheets: CLER) had acquired exclusive rights from EF System Corporation of Korea under a Licensing Agreement for its proven emulsified fuel mixing technology. The exclusive area included North, Central, and South America, plus Germany. The EF system blends approximately 20% water and 80% heavy fuel oils (including Bunker C) with a proprietary additive to create a stable cleaner burning fuel.

On October 19^th, 2006, Clean Energy, Inc. and EF System Corporation mutually cancelled said exclusive licensing agreement. Both parties agreed to continue cooperating on future projects on a case by case basis.

The management of Clean Energy, Inc. feels the technology is exceptional and it has great potential in several markets. However, market circumstances in 2006, including volatile high energy prices and restricted heavy fuel supplies, limited the technologies’ introduction in targeted Canadian electrical generating applications under consideration by Clean Energy, Inc.

Clean Energy, Inc. will continue to have access and encourage the use of the technology from EF System Corporation for its own clients and potential internal projects.

Clean Energy, Inc., a Nevada corporation, is a development stage company formed in 1998 to commercialize innovative technologies in the renewable energy industry.

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