Clean Coal Technologies, Inc. Signs Memorandum of Understanding with Shanghai Huayi (Group) Company
CORAL SPRINGS, Fla.--
Doug Hague, President & Chief Operating Officer, announced today that Clean Coal Technologies, Inc. (Pink Sheets:CCTC) has signed a Memorandum of Understanding in Shanghai with the Shanghai Huayi (Group) Company, www.e-young.com.cn/htm/introduction_english.htm
The MOU represents a cooperative agreement under which the two parties will work collectively to determine the applicability of CCTI's technologies as a complement to Huayi's gasification program, and other coal, chemical, and related environmental technologies. CCTI will also provide recommendations as to the substitution of lower grade coals to replace the higher grade coals currently being used in Huayi's gasification projects.
Based on the outcome of the initial feasibility studies, the two parties would enter into a formal business relationship, which may include the extraction of various chemical by-products from coal, which would be explored in conjunction with, or separately from the gasification initiative.
Company executives stated, "Our signing this MOU with one of China's largest state-owned, and most prestigious chemical companies is further testimony to the diverse applicability of our technology, and our commitment to work with those companies that have the commitment and capabilities to embark on a project of this scale and importance - China's gasification program will eventually consume hundreds of million tons of coal annually."
Safe Harbor for Forward Looking Statements: This press release contains forward-looking statements about the Company's business prospects that involve substantial risks and uncertainties. You can identify these statements by the fact that they use words such as "anticipate," "estimate," "expect," "project," "intend," "should," "plan," "goal," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. The Company assumes no obligation to update the forward-looking statements contained in this press release as a result of new information or future events or developments.
Source: Clean Coal Technologies, Inc.
Released April 16, 2008