CCTI Announces Stock Split, Purchase of Assets from Clean Coal Systems and Signs $100 Million Joint Venture Agreement
CCTI's Clean Coal Technologies Emerges as China's "Pollution Solution"
CORAL SPRINGS, Fla.--
Clean Coal Technologies, Inc. (Pink Sheets:CCTC) today announced a stock dividend to shareholders of record October 12, 2007. The dividend is in the form of a 20:1 forward stock split and was effective October 23, 2007.
On November 1, 2007, CCTI will acquire the assets of Clean Coal Systems, Inc., which includes the patent for a revolutionary technology that transforms dirty coal into a clean burning fuel with the capacity to reduce the harmful airborne pollutants associated with coal-fired utilities, industrial applications, and domestic consumers of coal. With this acquisition, CCTI is positioned to enter the growing global market for cutting-edge clean coal technologies, by transforming coal from the problem into a solution for the worldwide demand for nonpolluting energy sources.
Company executives stated, "This acquisition, combined with our exciting Joint Venture with the highly respected Shanxi Poar Group, establishes our company as China's 'Pollution Solution'. We are committed to taking a leadership role by leveraging our proprietary technology to provide a clean, inexpensive and pollution-free energy source that will enhance economic development while protecting the health and well-being of people in China, India, and the rest of the world."
In accordance with the initiatives adopted by the US Department of Commerce to jointly capitalize on the benefits of US-China trade, CCTI and the Shanxi POAR Group Co., Ltd., headed by CEO and General Manager Mrs. Guo Lihua, will leverage their joint venture company (Sino-American Aomei (Shanxi) Environmental Clean Coal Technologies Co, Ltd.) to build coal processing facilities that will transform dirty coal with high levels of impurities and contaminants into an efficient, clean-burning energy resource. Due to its significant social and economic benefits, the joint venture has received tremendous support and encouragement from the Chinese government, which has provided an 80-acre parcel of land for the construction and operation of the first of as many as 200 CCTI plants in China. Discussions are also underway with regard to establishing similar operations in India.
"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 November 5, 2007