Four Industrial Markets, a Core Laboratories Test Report, and Roughly Nine Million Shares Outstanding

On 28 May 2026, in a laboratory in Denmark, technicians working for Saybolt, the inspection and testing arm of Core Laboratories, heated heavy fuel oil to 60 degrees Celsius, poured it over glass, and let it cool below its pour point until it hardened into the kind of deposit that costs tanker operators days of downtime.

Then they sprayed a water-based cleaner over it, diluted one part to five.^1,2

The cleaning produced an emulsion that then separated into distinct oil and water phases, the behaviour that decides whether a shipowner recovers and sells the waste oil or pays somebody to take it away. Formally validated by Morten Rasmussen, Country Manager, Saybolt Denmark & Norway.^1,2

That product is CG-M100. It is one of four platforms inside a company attacking four separate industrial markets at once, with roughly nine million shares outstanding!^2,3

This is the story of CleanGo Innovations Inc. (OTCQB: CLGOF | CSE: CGII), and why a green chemistry company with certifications in hand and a share count this small is worth understanding before the market gets there.

The Bottom Line, Before You Scroll

Most investors meet a green chemistry story as a concept.

A slide about the environment, a promise about the future, and a laboratory somewhere that has not been named.

CleanGo Innovations Inc. (OTCQB: CLGOF | CSE: CGII) is past that stage. The chemistry has been tested by third parties with reputations of their own to protect, the certifications are issued, the manufacturing is arranged, and the commercial phase is the part that has not happened yet.

Here is the situation in plain terms.

The Company operates across four segments: industrial and oilfield chemicals, marine and shipping protection, bioremediation and sustainable waste, and advanced commercial disinfection. Those are not four ideas. They are four product lines with test data and regulatory approvals behind them.²

CG-100 is the oilfield formulation: water-based, non-toxic, stable to 177 degrees Celsius, built for wellbore cleaning, enhanced oil recovery and wax and asphaltene remediation. CG-M100 is the marine and bilge formulation, the one Core Laboratories tested. CG-P100 is the pipeline and heavy machinery formulation, non-corrosive with a built-in corrosion inhibitor. And MycoSet is a fungal bioremediation platform that has no real analogue anywhere in the microcap market.^2,4

Now the validation, because this is where the story separates itself.²

The Saybolt test above was conducted by the inspection arm of Core Laboratories and signed off by a named country manager. Not a testimonial. A highly regulated and inspected lab report!^1,2

A Health Canada certified laboratory ran MycoSet through OECD B mineralization protocols. Diesel mineralized at 68 percent against a 22 percent untreated control. Crude oil at 62 percent against 15 percent. Biodiesel at 88 percent against 36 percent. Dissolved organic carbon removal on heavy hydrocarbons at 55 to 70 percent against a control of 6 to 15 percent.²

On the institutional side the Company's disinfection products are Health Canada approved, Green Seal certified, non-corrosive and Leaping Bunny certified. On the marine side, CG-M100 is presented as meeting MARPOL Convention MEPC 63, Annex 5.^2,4

Those approvals take years and money to obtain, and they are the reason a company this small can walk into a procurement conversation at all.

Now look at the markets those products are pointed at.

The global oilfield chemicals market was approximately 33.42 billion dollars in 2025, projected to 50.24 billion by 2034. The Company identifies roughly 400,000 wells worldwide, about 20 percent of an estimated 2 million, as currently clogged or stagnant and in need of exactly the maintenance chemistry it sells.

Pipeline cleaning is an 8.5 billion dollar market moving toward 13.2 billion by 2032, across a global network of 3.5 million kilometres. Ship cleaning services run 2.20 billion dollars toward 3.88 billion by 2031. Bioremediation is a 19.8 billion dollar market compounding at 13.0 percent, with fungal remediation the fastest-growing sub-segment at 16.04 percent. And waste management, where MycoSet is aimed, is a 1.22 trillion dollar market just on its own.^2,4,5,6

And the Company does not have to build a factory to serve any of it.

CleanGo runs an asset-light corporate incubator model: localized manufacturing partnerships, joint ventures and distribution rather than owned plant. Base production capacity is 320,000 litres monthly, the modular design is built to scale five times within six months, and the hubs are already placed: Conroe, Texas for North American oilfield and pipeline; Alberta for upstream oil sands and midstream; and CleanGo Arabia Ltd., a joint venture aimed squarely at the GCC and MENA region.^2,4

Now look at how the Company is priced against all of that.

CleanGo has approximately 9,075,661 common shares outstanding following its most recent financing, which closed at 77 cents per unit for gross proceeds of $719,717, with half-warrants at 85 cents running to August 2028.³

Read that share count again! Roughly nine million shares. Not ninety million, not nine hundred million. A company listed on the Canadian Securities Exchange and on the OTCQB in the United States, carrying a share count most “private companies” would call small. On a structure that tight, a single commercial supply agreement of almost any size is material to the equity!^3,4

So, the setup is simple: four product lines; independent laboratory validation from Core Laboratories and a Health Canada certified lab; regulatory certifications already issued; an asset-light manufacturing model with three hubs and a Gulf joint venture; roughly nine million shares; and fresh capital in the treasury.

That is the trade. Position while the chemistry is proven and the revenue is still in the business development stage, not after.

Why The Window Is Open Right Now

Markets move on events, and on the gap between what is true and what is priced.

For CleanGo Innovations Inc. (OTCQB: CLGOF | CSE: CGII), that gap is unusually wide, and the reason is structural rather than mysterious. The Company has already spent the years and the money getting its chemistry through independent laboratories, its Health Canada approvals issued, its MARPOL positioning established and its manufacturing partnerships arranged. What it has not yet done is convert any of that into revenue at scale.

That is the entire investment question, and it is close to binary. Either validated chemistry with issued certifications converts into commercial supply agreements, or it does not.

Management projects revenue scaling from 0.21 million dollars toward 10 million dollars and above across the 2024 to 2027 period. What has changed is that the Company now has capital to prosecute that conversion, having closed 934,696 units at 77 cents for gross proceeds of $719,717 after its most recent quarter end.³

The regulatory direction is also moving toward the Company rather than away from it. Marine discharge rules, industrial VOC standards and zero-discharge mandates keep tightening, and every tightening makes a compliant non-toxic substitute more valuable relative to the solvent it replaces. CleanGo's entire commercial argument is that its products let an operator meet the standard without a facility retrofit.^2,4

The quiet period, where informed buyers accumulate before the crowd understands what is happening, is the period we are in now.

The Macro Backdrop: The Solvents Are Being Legislated Out

Most microcaps have to argue that their market will arrive. CleanGo does not have to make that argument. The markets it is attacking already exist, already spend, and are being reshaped by regulation rather than by fashion.

Heavy industry has run for a century on aromatics and solvents that work well and poison things. Every year the rules governing what may be discharged into water, vented into air, or left in soil get tighter, and every year the cost of using the legacy chemical rises: in permits, in fines, in disposal, in liability, and in the retrofits required to keep using it.

That is a substitution market, and substitution markets do not need the underlying industry to grow. They only need the regulation to hold. An operator switching from a toxic solvent to a compliant one is not adding a line item. They are replacing one.

Segment One: Industrial and Oilfield Chemicals

CG-100 is the flagship. It works by micro-emulsification, rapidly reducing interfacial tension between hydrocarbons and water, breaking long-chain molecules into stable micro-micelles so they can be separated and recovered. In practice that means it dissolves paraffin wax, asphaltic sludge and scale in production tubing and frac ports without corrosive acids and without facility retrofits.^2,4

The commercial case is not environmental. It is economic. A stagnant well is a capital asset producing nothing, and the conventional fix is a workover, expensive, disruptive, and slow. The Company reports that a CG-100 treatment restores well productivity for approximately three months per application, and cites a Texas case in which a well with “negligible inflow” was returned to roughly 20 barrels per day following treatment.²

The scale of the opportunity is what makes the segment interesting. Management identifies roughly 400,000 wells globally as clogged or stagnant, around 20 percent of an estimated 2 million worldwide, inside an oilfield chemicals market of 33.42 billion dollars in 2025 growing toward 50.24 billion by 2034 at 4.63 percent.^2,4,5

CG-P100 extends the same chemistry into pipelines and desalination. Non-corrosive across steel, alloy and composite, with a built-in corrosion inhibitor that extends asset life, it targets paraffin, sludge and scale across a global network of 3.5 million kilometres in a pipeline cleaning market of 8.5 billion dollars moving toward 13.2 billion by 2032. Delivered through the CleanGo Arabia joint venture, it also targets desalination intake bio-fouling in a region where Saudi Arabia alone processes roughly 7 million cubic metres of water per day, without impacting reverse osmosis membranes.²

Segment Two: Marine and Shipping Protection

This is the segment with the cleanest commercial logic in the entire portfolio, and it turns on a single chemical property.

When a vessel washes its tanks, the resulting mixture normally emulsifies permanently. That emulsion is waste. It has to be stored, offloaded and disposed of, and the operator pays at every step.

CG-M100 prevents that permanent emulsification. The oil and water separate, which is exactly what Core Laboratories observed and recorded in Denmark. The waste oil becomes recoverable, and recoverable oil can be sold.^1,2

The addressable market runs from ship cleaning services at 2.20 billion dollars in 2023 toward 3.88 billion by 2031 at 7.34 percent, inside a broader marine cleaning products market the Company sizes at 100.1 billion dollars moving toward 200.1 billion by 2030. The regional priorities are the Middle East, Europe and Asia, strategic shipping routes and major ports, the strictest environmental regulation, and the world's leading shipbuilding and maintenance hubs respectively.^2,4,6

Segment Three: MycoSet and the Economics of a Landfill

MycoSet is the asset with no real comparable in the microcap market, and it works through biology rather than chemistry.

It deploys white-rot fungi, which secrete enzymes such as laccase that act as molecular scissors on the carbon bonds that make plastics and persistent organic pollutants so resistant to natural decomposition. Alongside the fungi, a proprietary microbial booster amplifies both the introduced fungi and the native soil bacteria, and a surfactant addresses the industry's chronic failure point, inconsistent establishment, by carrying the fungal slurry deeply and uniformly through the waste matrix.²

The independent numbers are the strongest data in the Company's package.

Source: CleanGo Innovations Inc. corporate presentation, August 2026, citing a Health Canada certified laboratory under OECD B (Day %ThCO₂) and OECD B (% DOC removal) studies.² These are laboratory mineralization results, not field performance.

We will note honestly that these are laboratory mineralization results rather than field performance, and that the bitumen result, 89 percent against an 83 percent control, is materially weaker than the figures beside it.²

But the reason to care about MycoSet is the landfill arithmetic, because it is the clearest revenue mechanism in the portfolio.

A landfill is a finite volume that generates revenue by filling. When it is full, the operator must fund an expansion costing tens of millions. MycoSet is presented as increasing waste density from 1,200 to 1,800 pounds per cubic yard, extending the facility's life by up to 50 percent and deferring that expansion. Separately, it is presented as accelerating methane ignition to under 12 months against a conventional three to five years, which pulls renewable natural gas revenue forward by years.²

Source: CleanGo Innovations Inc. corporate presentation, August 2026.² These figures are management projections, not contracted results, and have not been independently verified.

That per-facility figure is a management projection, not a contracted result. But it is the number that explains why a waste operator would take the meeting.

Segment Four: Advanced Commercial Disinfection

The fourth segment is the least dramatic and the most credentialed, and in a company at this stage credentials matter more than drama.

CleanGo's institutional and commercial sanitization products are Health Canada approved for 99.9 percent elimination of viruses and bacteria, Green Seal certified, non-corrosive across surfaces, and Leaping Bunny certified for cruelty-free practices. The global institutional and industrial cleaning chemicals market was valued at 58 billion dollars in 2023 and is expected to reach 111.6 billion by 2035, driven by heightened hygiene awareness and regulatory requirements.²

Health Canada approval is not a marketing claim. It is a regulatory decision, on file, that a competitor cannot replicate by writing better copy.

The Asset-Light Engine

The way a small company is built determines whether growth is possible or merely desirable, and this is where CleanGo's structure earns attention.

Rather than raising tens of millions to build plant, the Company runs what it calls an asset-light corporate incubator model: localized manufacturing partnerships, joint ventures and international distribution networks. Base production capacity stands at 320,000 litres monthly, and the modular design is built to support a fivefold capacity increase within six months to service large contracts.^2,4

The hubs are placed where the customers are. Conroe, Texas serves North American oilfield and pipeline markets. Alberta supports upstream oil sands and midstream operations. CleanGo Arabia Ltd. is the joint venture vehicle aimed at Saudi Arabia, the UAE and Oman.^2,4

For an investor, the significance is dilution. A company that must build capacity ahead of demand has to finance that capacity, and existing shareholders pay for it. A company that can add capacity through partners as contracts arrive does not face the same arithmetic. On a nine million share structure, that distinction is not academic.

Four Markets, Measured

The Company's own market sizing, drawn from third-party research it has not independently verified, sets out the scale of the sectors its four platforms are pointed at. Total addressable market figures describe the size of a market, not CleanGo's participation in it.

Source: CleanGo Innovations Inc. corporate presentation, August 2026, and the Company's fact sheet, compiled from third-party industry research including Precedence Research and Markets and Data.^2,4,5,6 Figures have not been independently verified by Danayi Capital Corp.

The Team

Assets do not advance themselves.

The Choice In Front Of You

Step back.

Four industrial segments served by one chemistry platform. A Core Laboratories test report stating that solidified heavy fuel oil dissolved instantly. Health Canada certified laboratory results running two to four times their untreated controls. Health Canada approval, Green Seal and Leaping Bunny certification on the institutional line. MARPOL positioning on the marine line. An asset-light manufacturing model with 320,000 litres of monthly capacity, built to scale five times over in six months, with hubs in Texas, Alberta and a Gulf joint venture. Two exchange listings. Roughly nine million shares outstanding.^1,2,3,4

The regulatory backdrop is moving toward this chemistry, not away from it.

The science has been validated by parties with reputations of their own to protect.

And the only thing that has not happened yet is the commercial conversion: the contracts, the recurring supply agreements, the revenue line that turns a validated formulation into a business.

That is the definition of being early!

It is also, precisely, the definition of the risk. The Company's own unaudited interim statements for the six months ended June 30, 2026 disclose cash of $20,444, a working capital deficit of $1,025,516, an accumulated deficit of $13,903,400, revenue of $73,320 against $107,139 in the comparative period, and material uncertainties that cast significant doubt on its ability to continue as a going concern. No material commercial contract has been announced. An investment in this issuer carries a realistic risk of total loss of capital.³

Do your research on CleanGo Innovations Inc. today!

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