Clean Coal Technologies, Inc. Announces Receipt of Third Advance that Fully Covers Fabrication of Its Test Facility and Also Announces the Commencement of the Buyback of Convertible Notes
NEW YORK, NY / ACCESSWIRE / June 8, 2015 / Clean Coal Technologies, Inc., (CCTC) ("CCTI" or the "Company"), an emerging cleaner-energy company utilizing proprietary technology to convert raw coal into a cleaner burning and more efficient fuel, today announced the receipt from Black Diamond Financial Group of the third advance of financing which completes the funding requirements for the fabrication of its Pristine-M test facility in Tulsa, Oklahoma.
"Now that the funds are in place to complete the fabrication of the plant, Management is focused on the exciting phase of testing and developing the protocols that we expect will validate and underscore the commercial success of our process in the world market in the coming years. We are on track to complete the fabrication in August and move into the testing phase in September and October," said Robin Eves, President and CEO of Clean Coal Technologies, Inc.
"We are also very pleased to announce that the Company has begun the process of buying back the convertible notes issued over the past several quarters. It is our aim to substantially complete the buyback of the notes in coming weeks," he added.
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 clean coal technology that the Company is developing is designed to 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 the Company please visit our website at: www.cleancoaltechnologiesinc.com.
Forward Looking Statements
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, 2013 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.
295 Madison Avenue, 12th Floor
New York, NY 10017
Phone: (646) 727-4847
SOURCE: Clean Coal Technologies, Inc.
Released June 8, 2015