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 is designed to offer oil well operators an environmentally friendly solution that aligns economic incentives with sustainable practices. Under the GOR model, Kubera Black Energy assumes 100% of the upfront chemical costs and associated risks, providing its proprietary CG-100 green chemistry at zero initial cost to well owners.
The program protects operators' baseline production by auditing recent history to establish an auditable baseline. Operators retain all revenue from baseline production, while any incremental gains from increased output are shared on a collaborative basis. For example, if a well currently produces 20 barrels per day, that baseline is fully preserved. If production increases to 60 barrels per day through the application of CG-100, the additional 40 barrels are split between the operator and Kubera. This model ensures operators maintain control, as they use their own field crews for implementation, with Kubera providing only engineering support and its advanced green chemistry upon request.
CG-100 stands in contrast to traditional toxic treatments like acid washes or hot oiling, which can damage steel and offer temporary relief. The certified green product uses advanced green emulsification and targeted structural breakdown to permanently address downhole bottlenecks such as macrocrystalline paraffin waxes, asphaltene aggregations, and organic binder scales. By lowering interfacial tension, altering wettability to a water-wet state, and encapsulating wax molecules in stable micelles, CG-100 guarantees permanent fluidization and improved production efficiency.
In conjunction with the GOR launch, CleanGo announced its intention to close a non-brokered private placement of up to 974,025 units at a price of $0.77 per unit, aiming to raise approximately $750,000. Each unit consists of one common share and one-half warrant, with each whole warrant exercisable at $0.85 per share for two years. The net proceeds will be used for general working capital and corporate purposes. The offering is subject to a statutory hold period of four months and one day under Canadian securities laws.
Kubera Black Energy is actively seeking multi-well regional partnerships with E&P operators, asset managers, and operations directors worldwide. The company invites interested parties to submit asset information for a full assessment of potential collaboration. This initiative reflects a broader trend in the oil and gas industry toward adopting greener technologies that offer both environmental and economic benefits, potentially setting a new standard for production enhancement practices.
