CVW CLEANTECH RELEASES PROCESS AND TECHNOLOGY OVERVIEW

CALGARY, AB, July 31, 2023 /CNW/ - CVW CleanTech Inc. (the "Company" or "CVW CleanTech") (TSXV: CVW) is pleased to announce that it has published a Process and Technology Overview of its patented Creating Value from Wastetm ("CVWtm") technology. This document is available on the Company's website using the URL below and will be posted on SEDAR in the coming days.

https://cvwcleantech.com/technology/process-and-technology-overview/

The Process and Technology Overview provides detailed insight into the CVW^TM technology as well as the extensive efforts of the Company to bring it to commercial readiness. The overview highlights various aspects of the CVW^TM technology including the Company's intellectual property, expected commodity recoveries, potential environmental benefits to Alberta and Canada, and the economic benefits that will be generated through commercial implementation.

CVW CleanTech Inc. is a clean technology innovator, working to develop sustainable technology solutions. The Company has developed a suite of technologies called CVWtm that recovers bitumen, solvents, critical minerals and water from oil sands froth treatment tailings while significantly reducing their emissions and enhancing tailings management.

Disclosure regarding forward-looking information

This news release contains forward-looking statements and information within the meaning of applicable Canadian securities laws (collectively, "forward-looking information") that reflect the current expectations of management about the future results, performance, achievements, prospects, or opportunities for CVW CleanTech.

Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. The forward-looking statements may include statements regarding the results of deployment of CVW^TM technologies and its business plan, expected commodity recoveries, potential environmental benefits to Alberta and Canada, economic benefits generated through commercial implementation CVW^TM and statements regarding the benefits and implications of the implementation of our technologies or other statements that are not statements of fact. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company may differ materially from those reflected in forward-looking statements due to a variety of risks, uncertainties and other factors. For the reasons set forth above, investors should not place undue reliance on forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include: uncertainties in the timing and receipt of regulatory and exchange approvals; uncertainties involved in disputes and litigation; fluctuations in interest rates, commodity prices, currency exchange rates, and other financial conditions, and the resultant effect on viability of investments; changes in the availability, and cost, of technical labour required for our business; price escalation and/ or inflationary pressures affecting the cost of equipment and material required to commercialize our projects; the uncertainty of estimates of capital and operating costs; the need to obtain additional financing and uncertainty as to the availability and terms of future financing; the impact on the Company of increasing inflation; and other risks and uncertainties disclosed in other information released by the Company from time to time and filed with the appropriate regulatory agencies.

All forward looking statements are based on the Company's beliefs and assumptions which are based on information available at the time these assumptions are made. The Company has made the following assumptions in relation to the forward-looking statements in this press release: the expected environmental and economic benefits to be achieved from CVWtm technologies; the ability of the Company to successfully access various government funding programs; the details of government funding programs and that such programs will be implemented (and not change) as expected; that the Company will continue to be able to protect its intellectual property; assumptions as to various market and commercial opportunities for the Company and its technologies; and the ability of the Company to continue to develop and commercialize its technologies. The forward-looking statements contained herein are as of the date set out above and are subject to change after this date, and the Company assumes no obligation to publicly update or revise the statements to reflect new events or circumstances, except as may be required pursuant to applicable laws.

Although management believes that the expectations represented by such forward-looking information or statements are reasonable, there is significant risk that the forward-looking information or statements may not be achieved, and the underlying assumptions thereto will not prove to be accurate. Actual results or events could differ materially from the plans, intentions and expectations expressed or implied in any forward-looking information or statements, including the underlying assumptions thereto, as a result of numerous risks, uncertainties and factors including: failure to obtain regulatory approvals; the possibility that opportunities will arise that require more cash than the Company has or can reasonably obtain; dependence on key personnel; dependence on corporate collaborations; potential delays; uncertainties related to early stage of technology and product development; uncertainties as to fluctuation of the stock market; uncertainties as to future expense levels and the possibility of unanticipated costs or expenses or cost overruns; and other risks and uncertainties which may not be described herein.

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE CVW CleanTech Inc