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Clean Engines International goes to market

Manila, Philippines

CEI is pleased to announce that it has commenced commercial sale of its 2-stroke, LPG Transfer Port Injection retrofit kit. The first kits sold are going to tricycle drivers who have participated in CEI’s prototyping test program.

Alejandro Mollo – Mandaluyong TODA - signing loan doc

Alejandro Mollo – Mandaluyong TODA – signing loan doc

CEI has partnered with BanKO, a bank aimed at low-income customers, for provision of initial loans. BankO is a joint venture of two of the Philippines’ largest companies, Bank of the Philippines Islands (BPI), the country’s second largest bank, and Globe Telecom, the second largest mobile phone network provider. SEED Finance, a microfinance capital intermediary, is working closely with CEI to develop additional microfinance institution (MFI) relationships. The company anticipates that CARD MRI, a network of microfinance institutions and services, with more than 1.8 million customers in the Philippines, and over 6.5 billion Philippine Pesos of loans, will shortly be certified as a CEI partner, as will RTI, Rizal Technical University’s MFI.

Kits are priced at PhP 18,000 (roughly $450USD) and the loan is amortized over one year.

Marte Lapasaran – Clean Engines, Alejandro Mollo – Mandaluyong TODA, Joseph ‘Teng’ Delgado – BanKO, Manolo Berenguer – Clean Engines, Aldwin Go -- BanKO

Marte Lapasaran – Clean Engines, Alejandro Mollo – Mandaluyong TODA, Joseph ‘Teng’ Delgado – BanKO, Manolo Berenguer – Clean Engines, Aldwin Go — BanKO