As per its new business development strategy, the company plans to continue operations on biomass power generation.
According to sustainable business news, the value of electricity generated from biomass in the US is expected to increasing from $45bn in 2010 to $53bn by 2020.
Cleantech Transit is currently in discussions to acquire larger 1MW plants, which is double the size of its existing 500KW plant in Merced County.
The company has access to a number of biomass plants ranging from 1MW to 2MW in size through its existing partnerships.
Cleantech Transit president and chief executive officer Kenneth Bosket said, "As they say, where focus goes energy flows, and our strong commitment to building, implementing and operating the biomass power plants will give Cleantech the potential to develop into a significant player in the field of alternative energy."
