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Thanks Admiral; now I have to spend the rest of the day trying to figure out what you mean by that ;)
btw; I atually called last week to try to find out but she wouldn't tell me anything other than it was still the plan..
Hi Bob, IGCC just means 'integrated gasification combined cycle'. It's just a type of technology to remove CO2 and other contaminants from the coal to make 'clean coal'.
GL
Here's some information about the Tianjin project:
http://sequestration.mit.edu/tools/projects/greengen.html
(In the comments section it says "GreenGen is also planing to upscale the project: in April 2008, GreenGen and Tianjin officials signed an agreement for two 400-megawatt IGCC units."
Apparently Peabody Energy was or is involved, but their project was a $1 billion 650 megawatt project:
http://phx.corporate-ir.net/phoenix.zhtml?c=129849&p=irol-newsArticle&ID=1356351&highlight=
This recent project mentioned in the article about the ADB loan is a "$419.59 million project"
http://www.philstar.com/Article.aspx?articleId=548036&publicationSubCategoryId=200
And I noticed in that last article it said "The technology is reportedly the leading least-cost option available at present to cut carbon dioxide emissions from coal plants by up to 90 percent. ".
http://www.ecoseed.org/en/general-green-news/green-politics/green-policies/asia-pacific/6156
I posted an article about last months World Energy Summit that said other companies were citing similar technology at 1 billion/plant:
http://cleantech.com/news/5532/carbon-capture-and-storage-rebooting
I don't think anybody else can compete (cost-wise) with CCTC's technology right now. Just mho..
Feb 11, 2010 shows up next to the article in the google search:
http://www.google.com/search?q=tianjin+igcc+ecoseed&rls=com.microsoft:en-us&ie=UTF-8&oe=UTF-8&startIndex=&startPage=1
This appears to be an article about CCTC's project announced in the pr from last week about the MOU with the Tianjin Tianning Coal Traders. It could of course be about a different project, but it seems possible seeing as it's an article about China’s first integrated gasification combined cycle (I.G.C.C.) coal power plant in the city of Tianjin:
http://www.ecoseed.org/en/general-green-news/green-politics/green-policies/asia-pacific/6156
I think that's a different project? The first looks like a feasibility study and the other an agreement to develop technology. I could be wrong.
Does anyone know which American company is being referenced below?
5. 21st Century Coal. The two Presidents pledged to promote cooperation on cleaner uses of coal, including large-scale carbon capture and storage (CCS) demonstration projects. Through the new U.S.-China Clean Energy Research Center, the two countries are launching a program of technical cooperation to bring teams of U.S. and Chinese scientists and engineers together in developing clean coal and CCS technologies. The two governments are also actively engaging industry, academia, and civil society in advancing clean coal and CCS solutions. The Presidents welcomed: (i) a grant from the U.S. Trade and Development Agency to the China Power Engineering and Consulting Group Corporation to support a feasibility study for an integrated gasification combined cycle (IGCC) power plant in China using American technology
http://www.whitehouse.gov/the-press-office/us-china-clean-energy-announcements
No I just mean CCTC's technology seems to cost less than half what other competitors can offer which is why I think China and India will go with them.
And according to this summary of last month's World Future Energy Summit, the only similar technology costs about a billion per plant. I don't see China and Inida paying a billion dollars to multinationals to build or retrofit any coal plants. jmo.
http://cleantech.com/news/5532/carbon-capture-and-storage-rebooting
A 1 million block just went through at .121 a couple minutes ago.
It looks like most of the trolls are gone from the yahoo board; I'm hoping that's a good sign. Also the bid ask is up to .15/.159.
GLTA
Right but after the 90 days the shares are reissued with the restrictive legend. After which time they'd have to re-do the paperwork to have the legend removed again, no? And then wouldn't they run the risk of not being able to sell if the company didn't remain current with their filings?
I have no idea at this point; I'm not much of a chartist.. maybe one of the asst. mods would know better.
GL
But I think the restriction is only lifted when it's sold other wise it comes back after 90 days. From the company's website:
Worldwide Stock Transfer will review the paperwork and, if approved, issue a new certificate without restrictive legends representing the requested shares to be sold and send it back to the broker who can then sell the shares. The included legal opinion normally will be good for ninety days after which it must be updated for any as-yet unsold shares, otherwise unsold shares will be returned to the transfer agent by the broker and subsequently re-issued to the shareholder with restrictive legends.
http://www.cleancoaltechnologiesinc.com/index.php?option=com_content&task=view&id=2&Itemid=3
IMO it would be easy to manipulate the price of this down since the majority of the shares being sold are restricted shares. The people selling have already had to pay a securitites lawyer and a fee with the transfer agent and have their broker write a letter just to be able to sell their shares. They've already had to hold onto them for 12 months; last Jan. this was trading at $5..If they don't sell now they have to have all their paperwork re-done and if the company, for whatever reason, doesn't remain current with their filings they have to wait another 12 months. This is already down probably about 99% from where it was a year ago. IMO they don't care if they sell at 15 or 25 cents, they've already decided to sell and everyone buying knows that. When they're done selling this should go up, imo. Why would anyone want to run this up just to pay more for the restricted shares that they know are going to be sold off anyway? Just mho.
Thanks everyone! great posts today ;)
GL
Thanks BC :) If this article is about the same clean coal project mentioned in last week's pr and this is really "the first IGCC plant in a developing country" then I suspect we will do well.
http://www.chinadaily.com.cn/m/tianjin/e/2010-02/08/content_9451196.htm
I googled Tianjin IGCC and found a ton of information about the project, but nothing about who was supplying the clean coal technology (that I found anyway). I'd imagine this would be released when the deal is finalized in March ;)
Thanks BC :) If this article is about the same clean coal project mentioned in last week's pr and this is really "the first IGCC plant in a developing country" then I suspect we will do well.
http://www.chinadaily.com.cn/m/tianjin/e/2010-02/08/content_9451196.htm
I googled Tianjin IGCC and found a ton of information about the project, but nothing about who was supplying the clean coal technology (that I found anyway). I'd imagine this would be released when the deal is finalized in March ;)
Here's one from the International Business Times:
US Edition | Sunday, February 21, 2010 11:30 AM ET
Clean Coal Technologies, Inc. (CCTC.PK) is “One to Watch"
Headquartered in Coral Springs, Florida, Clean Coal Technologies, Inc. owns a patented technology to transform coal with impurities, contaminants, and other polluting elements into a clean-burning energy resource. The Company developed their technology in conjunction with their scientific technology consultant, SAIC, a Fortune 500 company considered as the one of the world’s leading energy consulting and scientific firms. Trading on the Pink Sheets, Clean Coal Technologies, Inc. began operations on September 1, 2007.
The Company offers their technology to utility plants and manufacturing firms that burn coal and that are subject to environmental regulations in China and other Asian countries. The multiple-stage process of Clean Coal Technologies, Inc.’s technology produces higher-energy coal, minus as much as 90 percent of impurities and contaminants.
In December 2009, Doug Hague, President & Chief Executive Officer of Clean Coal Technologies, Inc. (CCTI), announced that the Company signed a Technology Licensing Agreement with INK Global Consulting. This is to build clean coal plants utilizing CCTI’s patented technology in India.
INK Global represents a group of prestigious India interests who will ultimately be responsible for the construction and operation of the clean coal facilities throughout India. INK Global has their headquarters in both Chicago and India.
On Wednesday of this week, Doug Hague, President and Chief Executive Officer, announced that Clean Coal Technologies, Inc. signed a Memorandum of Understanding with Tianjin Tianning Coal Traders, Co., Ltd. (TTCT). TTCT will purchase a Technology Licensing Agreement for the construction of a clean coal facility in Inner Mongolia with an initial annual production capacity of 1.5 million metric tons.
The expectation is that the formal signing of the CCTI Technology Licensing Agreement will take place in March 2010, and will provide for Clean Coal Technologies, Inc. to receive incremental license fees and royalties based on production. TTCT will be responsible for obtaining all necessary licenses, permits, coal reserves, and all construction-related costs
http://www.ibtimes.com/articles/20100219/clean-coal-technologies-inc-cctc-pk-is-one-to-watch.htm
Coal news from this morning (not specific to CCTC):
China's coal output will reach 3.3bln t in 2010
http://news.alibaba.com/article/detail/metalworking/100250283-1-china%2527s-coal-output-reach-3.3bln.html
Coal Rally on Chinese Demand Sparks $59 Estimates (Update1)
http://www.businessweek.com/news/2010-02-22/coal-rally-gaining-steam-as-chinese-demand-sparks-59-estimates.html
From the International Business Times:
US Edition | Sunday, February 21, 2010 11:30 AM ET
Clean Coal Technologies, Inc. (CCTC.PK) is “One to Watch"
Headquartered in Coral Springs, Florida, Clean Coal Technologies, Inc. owns a patented technology to transform coal with impurities, contaminants, and other polluting elements into a clean-burning energy resource. The Company developed their technology in conjunction with their scientific technology consultant, SAIC, a Fortune 500 company considered as the one of the world’s leading energy consulting and scientific firms. Trading on the Pink Sheets, Clean Coal Technologies, Inc. began operations on September 1, 2007.
The Company offers their technology to utility plants and manufacturing firms that burn coal and that are subject to environmental regulations in China and other Asian countries. The multiple-stage process of Clean Coal Technologies, Inc.’s technology produces higher-energy coal, minus as much as 90 percent of impurities and contaminants.
In December 2009, Doug Hague, President & Chief Executive Officer of Clean Coal Technologies, Inc. (CCTI), announced that the Company signed a Technology Licensing Agreement with INK Global Consulting. This is to build clean coal plants utilizing CCTI’s patented technology in India.
INK Global represents a group of prestigious India interests who will ultimately be responsible for the construction and operation of the clean coal facilities throughout India. INK Global has their headquarters in both Chicago and India.
On Wednesday of this week, Doug Hague, President and Chief Executive Officer, announced that Clean Coal Technologies, Inc. signed a Memorandum of Understanding with Tianjin Tianning Coal Traders, Co., Ltd. (TTCT). TTCT will purchase a Technology Licensing Agreement for the construction of a clean coal facility in Inner Mongolia with an initial annual production capacity of 1.5 million metric tons.
The expectation is that the formal signing of the CCTI Technology Licensing Agreement will take place in March 2010, and will provide for Clean Coal Technologies, Inc. to receive incremental license fees and royalties based on production. TTCT will be responsible for obtaining all necessary licenses, permits, coal reserves, and all construction-related costs
http://www.ibtimes.com/articles/20100219/clean-coal-technologies-inc-cctc-pk-is-one-to-watch.htm
Thanks. I'm not familiar with P&F charting, I had a question...
Wouldn't this be a unique situation given that the restricted shares caused a sudden temporary increase in supply (o)? I would think float would diminish from this point now that the majority of the restricted shares have been released into the market? Also, I would expect demand (x) to increase substantially given all the recent press about clean coal and the fact that the Senate should soon be passing a clean coal bill as well as all the recent attention CCTC has received with everyone hyping it as a likely 5 bagger from this point. Also, there is quite a bit of news expected which I would expect to further contribute to demand. I could be wrong thats just mho..
Thanks BC. Someone on Yahoo posted a link to China Daily which is where I found those articles. My last post is wrong, though. I said the first link has 5 CCTC articles, but there are only 3. One is a duplicate and the other's about something else. I'll let you know when I find more.
GL ;)
Here's a link to 5 more recent articles about CCTC from China Daily:
http://search.chinadaily.com.cn/all_en.jsp?searchText=ccti&searchword=
And 8 interesting articles about CCS IGCC which is the technology CCTC uses:
http://search.chinadaily.com.cn/all_en.jsp?searchText=ccs+igcc&searchword=coal+carbon+capture
And here's another article from Feb. 8th called "ADB loans $135M for China's green power plant":
http://www.chinadaily.com.cn/m/tianjin/e/2010-02/08/c ontent_9451196.htm
It doesn't mention who is supplying the technology for the project, but it does say that the project is being done in the city of Tianjin which is in Inner Mongolia.
The pr issued by CCTC last Wed, "Clean Coal Technologies, Inc. Signs Memorandum of Understanding (MOU) with Tianjin Tianning Coal Traders, Co., Ltd. (TTCT)" says that their project is in Inner Mongolia, but doesn't identify which city, although I would imagine the Tianjin Traders would be located somewhere near the city of Tianjin..
http://finance.yahoo.com/news/Clean-Coal-Technologies -Inc-bw-342769233.html?x=0&.v=1
(The first article could obviously be about another clean coal plant than the one mentioned in CCTC's pr..)
Here's an article from China Daily that mentions CCTC:
China to clean its coal habit By Xiao Yu (China Daily)
Updated: 2009-04-20 07:57
http://www.chinadaily.com.cn/bizchina/2009-04/20/content_7694063.htm
I just added too. I don't think this take down had the volume that was hoped for to cover low ;) Just my opinion.
Also, it looks like on Jan. 15th the company changed its transfer agent:
"Effective Friday, January 15, 2010, CCTI has transferred its stock transfer functions. Future communications should be directed to:
Worldwide Stock Transfer, LLC.
433 Hackensack Avenue, Level L
Hackensack, NJ 07601
Telephone: (201) 820-2008
Fax: (201) 820-2010
Attention: Yonah J. Kopstick"
http://www.cleancoaltechnologiesinc.com/index.php?option=com_content&task=view&id=2&Itemid=3
The fourth step listed on the website to be able to sell your restricted shares is:
"4. Have your broker submit paperwork to Worldwide Stock Transfer with applicable fee.
Contact Worldwide Stock Transfer for fee schedule.'
I'm just curious if this process could have been initiated with a different transfer agent prior to Jan 14th? Otherwise I don't see how any of the initial selling was actually restricted shares. Otherwise it must have been ALL shorting? Unless somebody completed steps 1 through 4 very quickly.
Do you have access by any chance to what the short ratio is? I was just curious what it would be at since the volume until a month ago was so low.
Either way I don't see how they expect to cover. The previous share price already took the restricted shares into account I thought. This hasn't been diluted. I think it was just some holders panic selling en masse after Jan. 14th. The market cap, for whatever reason, apparently was justified before then.
I thought that the previous float on this was only 1 million? And now with a potential 100 million restricted shares eligible to be sold? (I thought the remaining 300 million or so remaining shares were held by insiders and subject to some dribble out rule). How could they cover 80 million shorted shares on a 101 million float? (Maybe I'm wrong about the float?).
Ha, ha. Thanks Megladon; I hope you took my advice and started a position yesterday morning ;)
I think word is out that the technology has a lot of value..
The restricted shares were already accounted for in the market cap before Jan. 14th when this was trading at $1.00+. It's not as if this was diluted. It appears for whatever reason the previous market cap was justified and that the massive drop in sp was unwarranted.
Thanks everyone ;)
Thanks and also I just noticed this on CCTC's website:
"CCTC plans to place its technology at mine mouths, co-locate its facilities with both new and existing coal-burning power plants, or as a means of upgrading low to mid grade coals to create a source fuel for liquefaction applications."
http://www.cleancoaltechnologiesinc.com/index.php?option=com_content&task=view&id=3&Itemid=5
Probably other people had read this, but I hadn't realized until now that CCTC's technology could be used with existing coal plants.
From the NY Times:
Sen. Graham Promotes Nuclear Power,' Clean Coal' in Draft Renewables Bill
By DARREN SAMUELSOHN AND KATHERINE LING of Greenwire
Published: February 17, 2010
A key Senate Republican is floating legislation that would give a big boost to nuclear power and coal as part of a nationwide standard for renewable energy, according to a draft bill obtained by E&E.
South Carolina's Lindsey Graham wrote the measure (pdf) requiring the country to generate a certain percentage of "clean energy" over the next 15 years: 13 percent by 2014, 20 percent by 2020, and 25 percent by 2025.
Power sources that would fit into the program include new nuclear capacity built after the bill became law, as well as coal-fired plants that capture and permanently sequester 65 percent of the greenhouse gases produced by the facility.
Traditional renewables like wind and solar power qualify, as well as certain types of biomass and hydropower. Also eligible: retired fossil-fuel plants that had produced more than 2,500 pounds of carbon dioxide per megawatt-hour of generation.
Graham spokesman Kevin Bishop said yesterday that the senator started working on the proposal before teaming up last fall with Democrat John Kerry of Massachusetts and independent Joe Lieberman of Connecticut on a more sweeping energy and climate bill. Both Kerry and Lieberman have reviewed Graham's draft bill, Bishop said, but they have not agreed to include it in the comprehensive package -- details of which are expected to remain under wraps until at least next month.
Several sources said General Electric Co. helped Graham in crafting the legislative language. GE has the world's largest gas turbine manufacturing plant, in Greenville, S.C., and the company also is leading development of new nuclear reactors and a "clean coal" technology known as integrated gasification combined cycle, which has the capacity to capture and permanently sequester carbon emissions.
On nuclear power, Graham's approach goes beyond the renewable energy standard included in legislation (S. 1462 (pdf)) passed last June by the Senate Energy and Natural Resources Committee. That legislation requires utilities to provide 15 percent of their power from renewable sources like wind and solar power by 2021, while allowing up to a quarter of the requirement to be met with energy-saving measures instead.
Unlike Graham's bill, the committee's legislation did not let new nuclear plants be counted toward the renewable standard. But it did allow capacity added through increased efficiency at existing reactors to be excluded from the power baseline used to set renewable targets. In other words, a utility that improves a nuclear plant's efficiency could provide less energy from renewable sources to meet the standard (Greenwire, June 4, 2009).
Many of the ideas in Graham's proposal reflect amendments offered unsuccessfully by Republicans during the Senate energy committee markup. Graham told reporters last month he could not support the committee-approved bill "because nuclear power doesn't have the standing as wind and solar, and we can't meet the targets in the Southeast."
Graham's proposal also includes placeholder language for a nuclear loan guarantee provision "sufficient to build 60 additional nuclear reactors." A similar idea made it into a much larger draft (pdf) nuclear title written last year by Lieberman and more than a dozen other Democratic and GOP senators.
The Lieberman-led nuclear bill included a $100 billion boost for the federal loan guarantee program, as well as additional regulatory risk insurance, accelerated depreciation for nuclear plants, investment tax credits similar to renewable energy and language to expedite the Nuclear Regulatory Commission's licensing process.
House-passed climate legislation (H.R. 2454 (pdf)) also sets up a nationwide renewable energy standard. The bill approved narrowly on the floor last June requires utilities to supply 15 percent of their power sales from qualified renewable sources of electricity by 2020, though state governors also have the option of lowering the renewables requirement if they meet other efficiency mandates.
Qualified renewable energy sources in the House bill: wind, solar, geothermal, biomass, biogas, biofuels, increased hydropower capacity since 1988, waste-to-energy, landfill gas, wastewater treatment gas, coal mine methane used to create power at or near the mine mouth, and marine renewables such as wave and tidal power.
The House bill also excludes new nuclear generation, existing hydropower, and fossil generation with carbon capture and storage from the power sales baseline.
In a prepared statement, GE said it is in talks with its customers, trade associations, nongovernment organizations and members of Congress "about the merits of a clean energy standard."
The company also praised Graham's efforts on the broader climate and energy bill. "Without his bipartisan leadership and collaboration in the Senate, the U.S. will lose its leadership role in one of the most promising sectors of our economy that could stimulate job creation, technology investments and American exports," it said.
But an environmentalist tracking the debate took issue with two components of the draft Graham proposal: the loan guarantees for the new nuclear power plants and the addition of carbon capture and storage facilities. The former, he said, could create a "wide open slush fund for loan guarantees" that pushes other renewables below their business as usual projections -- even if coupled with a mandatory cap on greenhouse gases.
"This means no new jobs created," the environmentalist said, a point that undercuts one of President Obama's signature reasons for advancing an energy and climate bill.
http://www.nytimes.com/gwire/2010/02/17/17greenwire-sen-graham-promotes-nuclear-power-clean-coal-i-53200.html
Here's an article about CCTC from the U.S. Commerce Dept. trade journal from Jan of 2009:
http://trade.gov/press/publications/newsletters/ita_0109/itu_0109.pdf
and here's a copy of the presentation CCTC gave at the Commerce Dept.'s Fourth U.S.-Mongolia Business Forum held in July of 2009:
http://www.export.gov/china/policyadd/FourthUSMongoliaBusinessForumPresentations.asp
You can click on CCTC's presentation in the list of panelists where it says "Session III: Clean Coal Technology and Coal Power Production Panel"
Here's what is says about CCTC on the U.S. Commerce Dept. website:
"The deal between Clean Coal Technologies, Inc. (CCTI) of Coral Springs, Fla., and Shanxi POAR Environmental in China represents some of the most advanced clean coal technology in the world to be sold to China."
http://www.export.gov/articles/successstories/eg_main_017203.asp
The U.S. Commerce Dept. held an official signing ceremony to celebrate the agreement with Sino-Mongolia International Railroad Systems...
http://www.cleancoaltechnologiesinc.com/index.php?option=content&task=view&id=27
"This contract is another example of how U.S.-China trade is working to promote mutual economic growth while utilizing innovative U.S. technologies to address environmental and industrial concerns associated with fossil fuels," said William Zarit, U.S. Commerce Department's Deputy Assistant Secretary for International Operations with the International Trade Administration's (ITA) Commercial Service. "As exemplified by our work with CCTI, the U.S. Commercial Service continues to support expanded sales of American products and services to China, our third largest export market."
This was just on the google finance CCTC page:
"The question for Clean Coal Technologies (PINK:CCTC) isn't one of whether or not this is a breakout move - it IS a breakout move. The question is, how far can CCTC run before hitting a major headwind? I've got a reasonable answer... a couple, actually.
In the absence of any other meaningful support or resistance lines, the application of Fibonacci retracement lines suggests the first checkpoint for CCTC is the $0.56 level. The next one is at $0.88, and is probably the more important of the two. However, I'd be wrong to not acknowledge that Clean Coal Technologies might turn the support at $1.06 (found in December and January) may end up being a ceiling when attacked from a different direction.
Several great options, huh? I know... too many to really worry about any single one. The bigger point is the same - Clean Coal Technologies is making a huge move an explosive volume today, and I expect it to get some bullish traction over the next several days."
http://community.smallcapnetwork.com/Chart-Outlooks-for-ELTP-CCTC-IMGG-and-INSM/s/article/view/p/mid/3/id/202/