Clean Coal Receives Initial Funding from the Archean Group
NEW YORK-- Clean Coal Technologies, Inc. (the “Company”) Clean Coal Technologies, Inc. (“CCTI” or the “Company”), a cleaner-energy technology company, fully-reporting and listed on the OTCQB (symbol CCTC), has received an investment of two million dollars (USD $2,000,000) from the Archean Group (“AGPL”) for which the Company has issued a convertible debenture which will represent, upon conversion and subject to the availability of authorized capital and the terms of the debenture, 6.7 % of the outstanding shares of CCTI. The investment has been made pursuant to the terms of the agreement with AGPL to develop deploy and market CCTI’s Pristine-M™ technology throughout the ASEAN region (including Indonesia, the Philippines, Cambodia, Vietnam, Malaysia, Brunei, Thailand, Laos and Myanmar) through a joint venture company (“JV”) as previously announced.
CCTI’s CEO, Robin Eves, stated: “This is a major milestone for our Company and will provide us with working capital. We anticipate moving quickly to complete the JV agreement with AGPL and to initiate construction of the proposed pilot plant in the immediate future. We are extremely pleased to bring AGPL into CCTI as a strategic partner. Only 30 years old, AGPL today occupies market-leading positions in several industry segments including construction materials, mining, and coal. At present, AGPL owns about 800 million tons of coal assets in Indonesia and last year exported 2.5 million tons to China and 1.5 million tons to India. The company has plans to ramp up Indonesian production to 10 million tons per annum by 2013. With this partnership, we bring in a tremendous amount of entrepreneurial talent that will benefit AGPL and CCTI as, together, we develop the market for dry coal in the dynamic ASEAN region.”
The Archean Group Companies
Archean Group is a professionally managed diversified conglomerate having strategic business interests, investments and over 30 years of operational experience in high growth sectors such as mining & minerals, industrial chemicals & fertilizers, shipping & shipbuilding, building materials, oil & gas services, and energy & infrastructure.
Under the Group’s mining portfolio, Archean Group is present in Indonesia since early 2004 and owns several thermal coal-mining concessions that are under various stages of operations across different coal rich provinces in Indonesia. Currently, with combined estimated reserves in excess of 800 million tons and a successful track record of production, Archean is on the path of expansion. Being one of the very few Indian companies to be able to operate in Indonesia at a large scale, Archean is looking to take advantage of the enormous potential from the low rank coal deposits in Indonesia, thereby strategically positioning itself to be a significant, reliable and long-term player in the rapidly growing Asia Pacific energy market.
About Clean Coal Technologies, Inc.
CCTI, (http://www.cleancoaltechnologiesinc.com) a cleaner-energy, technology company with major offices in Coral Spring, Florida and New York City, NY, owns a patented process technology to design and build, state of the art plants, which convert coal into a cleaner burning fuel source. This technology utilizes a patented pre-combustion beneficiation process. The Company's patented end product “PRISTINE™” coal is significantly more efficient, less polluting, more cost effective, and provides more heat than untreated dirty coal. The principal elements of this pre combustion technology are based on well-proven, off the shelf components and equipment. Its clean coal technology reduces some 90% of chemical pollutants from coal, including Mercury, thereby resolving emission issues affecting coal-fired power plants.
Matters discussed in this press release contain forward-looking statements. Investors are cautioned that such forward-looking statements involve risk and uncertainties, which could significantly impact the actual results, performance or achievements of the Company. Such risks and uncertainties include, but are not limited to, the results of the proposed shareholders’ meeting, the time frame for construction of the pilot plant, the time frame for production of revenue, and the impact of rapid price and technological change as well as competition in the energy market, and supply uncertainties and other risks.
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Clean Coal Technologies, Inc.
Mr. Robin Eves, 646-710-3549
Director, President & CEO
Cooper Global Communications
Mr. Richard E. Cooper
Ms. Jennifer K. Zimmons, Ph.D.
Source: Clean Coal Technologies, Inc.
Released March 21, 2012