Clean Coal Technologies, Inc. Provides Shareholder Update
Chinese Import Restrictions on Indonesian Coal Offers Significant Demand Potential for Pristine™
Company Focused on Commissioning Coal Testing Pilot Plant in the Third Quarter
NEW YORK, June 18, 2013 /PRNewswire/ -- Clean Coal Technologies, Inc. (OTC Markets: CCTC) ("CCTI," "the Company"), an emerging cleaner-energy company utilizing patented technology (Pristine™) to convert raw coal into a cleaner burning and more efficient fuel, announces an update on recent developments in the coal industry as it finalizes orders for the components needed to begin construction for the commissioning of pilot plant in Oklahoma.
Oklahoma Pilot Plant Update:
Management is acutely aware of the interest from shareholders for regular updates on the progress of the pilot plant, however the company is also cautious not to create unreasonable expectations, and therefore has chosen to update only when critical milestones have been reached. Currently all plant components are on order and deliveries are beginning to ship. The company is dependent upon the workflow schedules from vendors/manufacturers, and providing they continue to perform and deliver, as they have to date, CCTI will meet or be slightly ahead of schedule. The company is projecting the start of the construction in July and delivery of the pilot plant to the coal fired utility in mid August with commissioning to take place in September. Shareholders can expect to be informed when all component parts have been delivered and construction has commenced. After this, Management will inform the shareholders when the plant has been constructed and is mechanically performing perfectly.
- July/August: Construction of the pilot plant
- August: Delivery of pilot plant to the coal fired utility in Oklahoma
- September: Commissioning of the pilot plant
- October: Move the pilot plant to a permanent CCTI testing facility where the company will establish a permanent home for its technology
- November: Jindal to negotiate and sign EPC contract with SAIC
- November/December: Clean up CCTI capital structure and work towards up-listing on to a national exchange
New Business Development Update:
CCTI receives unsolicited interest from around the world for it Pristine™ technology. By process of elimination and the credibility of SAIC's engineering, coal companies are beginning to recognize that CCTI Pristine™ technology may prove to be a market leader, providing a viable solution for the drying and cleaning of coal. The company's Indian client, Jindal Steel & Power, continues to show weekly interest in the progress of the pilot plant following their recent purchase of over a billion tons of coal reserves in South Africa. Currently, it is anticipated that once the pilot plant is successfully commissioned and CCTI has re-tested Jindal's coal, the company will move immediately into commercialization.
Update on Indonesian Initiatives:
The Company recently returned from Indonesia where it was announced that China has proposed an immediate ban on coal imports with a calorific value of less that 4540 kcal/kg on a net, as received, basis, and on thermal coal with sulfur and ash content of more than 1% and 25% respectively. Over the past 12 months, China imported some 90 million tons of coal, much of it from Indonesia. If brought to law, the ban will accelerate the need for producer/exporters to beneficiate their coal using processes such as CCTI's Pristine™ and Pristine-M™.
Management also met with one of Indonesia's largest general contractors and steel structure manufacturing companies. The Jakarta-based company is a market leader in steel construction in Indonesia and has also completed a substantial amount of work for the US military outside Indonesia, in the Middle East. Having built clean coal upgrade facilities for competing companies, the company is highly qualified to understand the dimensions and scope of a CCTI commercial scale facility. The company left the country confident that SAIC will be able to deliver plants at a price well below current estimates, again adding to the attractiveness of CCTI's solution. News of any progress on this front will be forthcoming as we move forward.
"The news from China is good for CCTI," commented Robin Eves, Chief Executive Officer of Clean Coal Technologies, Inc. "It means that coal producers outside China who want to enter, maintain or expand their exports to China, will be obligated to upgrade those low-rank coals that would be covered by the ban. The market is beginning to absorb the impact of the ban, which logically, should lead to a decline in low-rank coal prices and higher prices for higher quality coal types that will be in demand in China. It is in the price differential between low rank and premium coals that the CCTI process pays the highest dividends."
Mr. Eves continued: "In the interim, coal producers are feeling the pinch but we expect that the marketing environment for our technology will be very favorable once the pilot test plant is up and running. Currently, we are pursuing one of Indonesia's most powerful coal producers, a company has a team dedicated solely to the task of finding viable coal upgrade technologies. We are also pursuing an opportunity involving Korean companies that are seeking to acquire long-term coal supplies in Indonesia, but only in conjunction with a viable upgrade technology. Our goal is to explore all possibilities with them, including those that would involve our new Pristine-SA process."
Mr. Eves concluded: "As we work towards the commissioning of our pilot plant in the third/fourth quarter, we are focused on new business opportunities overseas given the favorable changes in the coal industry that could lead to significant demand for our Pristine™ technology. At present, the Company believes it has leadership in its ability to handle the variations in feed coal that may occur within a single mining operation, even within a single seam, without failure of the process. We look forward to updating our shareholders as we work to move through our projected timeline."
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™" 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:
In addition to historical information, this press release may contain forward-looking statements that reflect the Company's current expectations and projections about future results, performance, prospects and opportunities. These forward-looking statements are based on information currently available to us and are subject to a number of risks, uncertainties and other factors that may cause actual results, performance, prospects or opportunities to be materially different from those expressed in, or implied by, such forward-looking statements. You should not place undue reliance on any forward-looking statements. Except as required by federal securities law, the Company assumes no obligation to update publicly or to revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available, new events occur or circumstances change in the future.
SOURCE Clean Coal Technologies, Inc.
Released June 18, 2013