Clean Coal Technologies, Inc. Signs Binding Term Sheet to License Technology in Wyoming and Form a Joint Venture
NEW YORK, NY -- (Marketwired) -- 09/03/15 -- Clean Coal Technologies, Inc., (OTC PINK: CCTC) ("CCTI" or the "Company"), an emerging cleaner-energy company utilizing patented technology to convert raw coal into a cleaner burning and more efficient fuel, today announced that they have signed a binding term sheet to license their Pristine "M" Technology to the Diamond Energy Group, LLC, a newly formed consortium of coal technology and engineering expertise. Under the terms of the Agreement the Diamond Energy Group has a six month option to license the Pristine M Technology for a designated site in Wyoming. The terms of the transaction include CCTI receiving a license fee of $1,000,000 per one million tons of capacity and a royalty of $1.50 per ton. The option is exercisable six months following the commercialization of CCTI's Pristine "M" technology.
Diamond Energy will also be granted an exclusive license to develop and deploy the CCTI Technology throughout Wyoming and Montana in a joint venture with CCTI whereby license fees and royalties are split 50%-50%. In return for the option and in addition to the license fees and royalties, Diamond Energy shall make three payments to CCTI under an additional structured note that is being finalized. The financial highlights include a $250,000 payable on or before September 15, 2015, $250,000 on or before October 15, 2015, and $800,000 on or before November 15, 2015. These funds shall be for the exclusive purpose of retiring the remaining convertible notes and as such a major step towards further cleaning up CCTI's balance sheet.
"We are receiving a substantial amount of interest from the Powder River Basin and have recently signed two more NDA's with strong groups looking to capitalize on the successful commissioning of our technology. Signing this term sheet with a group that has considerable exposure to the coal industry and political systems throughout Montana and Wyoming will help to accelerate our roll out in the region. CCTI has attracted interest and investments from around the world and we are very excited to have finally signed a domestic agreement that will complement the testing of our technology at AES that is focused on PRB coal. We remain firmly commited to the coal industry in the United States and we believe that this transaction will provide CCTI an opportunity to commercially demonstrate the effectiveness of our technology and the first step to providing assistance to the coal industry across the US and globally. As the interest from multiple parties in the region gathers momentum we can see a clear path to commercialization based upon the results of the testing at AES. This is another major step forward for our company and we are looking forward to a successful relationship with the consortium," said Robin Eves, CEO and President of CCTI.
About Clean Coal Technologies, Inc.
Clean Coal Technologies, Inc., a cleaner-energy technology company with headquarters in New York City, NY, holds patented process technology and other intellectual property that converts raw coal into a cleaner burning fuel. The Company's trademarked end products, "Pristine(tm)" coals, are significantly more efficient, less polluting, more cost-effective, and provide more heat than untreated coal. The principal elements of the Company's pre-combustion technology are based on well-proven science and tried-and-tested industrial components. The Company's clean coal technology may reduce some 90% of chemical pollutants from coal, including Sulfur and Mercury, thereby resolving emissions issues affecting coal-fired power plants. For more information about Clean Coal Technologies please visit: www.cleancoaltechnologiesinc.com
This release may include forward-looking statements related to CCTI's plans, beliefs and goals, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such statements include, but are not limited to, statements about CCTI's plans, objectives, expectations and intentions with respect to future operations, its products, its ability to secure financing for its operations, the impact on the industry and other statements identified by words such as "will," "potential," "could," "can," "believe," "intends," "continue," "plans," "expects," "anticipates," "estimates," "may," and other words of similar meaning or the use of future dates. Additional details about CCTI's business and its operations that could affect CCTI's actual results are described in CCTI's filings with the Securities and Exchange Commission, including the "Risk Factors" that are part of its most recent annual report on Form 10-K for the year ended December 31, 2014 and in each of its subsequently filed periodic reports. All forward-looking statements in this release speak only as of the date of this news release. CCTI undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
For More information please contact:
Clean Coal Technologies Inc.
Tel: (203) 9187706
Source: Clean Coal Technologies, Inc.
Released September 3, 2015