Business Description
Clean Coal Technologies, Inc. (CCTI), which began operations on September 1, 2007, was formed through the acquisition of Clean Coal Systems, Inc. (CCSI) and a pink sheet shell company. CCTI's technology will be marketed through a variety of contractual relationships, including joint ventures, licensing agreements, and build/operate/transfer relationships.
The advantage of the CCTI technology is that it will provide a highly effective means of reducing the overall airborne pollutant levels associated with the combustion of fossil fuels by up to 90%, and at a lower cost than other technologies that are just being contemplated, and have yet to be commercially validated.
CCTI's superior technology provides for raw, low-grade coal to be transformed via our multistage patented processes into high grade, clean burning, coal on an industrial scale at a substantially lower cost (60-70% less) that alternative post combustion technologies, e.g. scrubbing.
EPA is demanding reduction in pollutants due to coal burning.
Clean Coal Technologies, Inc. ("CCTI", "the Company"), a cleaner-energy technology company, "fully-reporting" and listed on the Pink Sheets-QB (symbol CCTC), today announced it has entered into a binding agreement to form a Joint Venture Corporation in the ASEAN region with Jindal Steel & Power Ltd., (JINDALSTEEL.BO/JSP:IN). Ownership of the joint venture will be held 65% by Jindal and 35% by CCTI. Final Terms of the Joint Venture Agreement are being negotiated.
For its 35% stake in the Joint Venture Company, CCTI will contribute a 25-year exclusive license to market and deploy Pristine-M(TM) Technology, covering the ASEAN countries including Indonesia, the Philippines, Cambodia, Vietnam, Malaysia, Brunei, Thailand, Laos and Myanmar. For its 65% stake, Jindal will pay US$6,000,000 into the Joint Venture Company, US$4 million of which will be paid to CCTI for an exclusive license of the Pristine-M(TM) Technology. A payment of US$1.5 million will be made to CCTI upon the signing of the Joint Venture Agreement, and $US2.5 million upon successful commissioning of a 1/10-scale pilot plant. The remaining $US2 million will pay for the full construction of the pilot plant. It is anticipated that the pilot plant will take between 16 and 24 weeks to complete; construction is expected commence in February, 2012.
Construction of the pilot plant will be followed by an initial 1,000,000 ton commercial plant at Jindal's mines in Indonesia. The Joint Venture Company will market and deploy the Pristine-M(TM) Technology to third parties throughout the ASEAN region.
Jindal will fund the working capital for the Joint Venture Company on terms to be negotiated in Joint Venture Agreement until CCTI is able to fund their share or until joint venture revenues are adequate to cover operating costs.
