Clean Coal Technologies, Inc. in Advanced Negotiations for Financing to Complete its Test Facility in Oklahoma
NEW YORK, NY / ACCESSWIRE / March 23, 2015 / Clean Coal Technologies, Inc. (CCTC) ("CCTI") (the "Company"), an emerging cleaner-energy company utilizing patented technology to convert raw coal into a cleaner burning and more efficient fuel, announced today that it is in advanced negotiations with Black Diamond Financial Group, LLC ("Black Diamond") to obtain financing to complete the fabrication and testing of CCTI's test facility located in Tulsa, Oklahoma. The material terms of a financing transaction with Black Diamond will be announced only after the parties have entered into a definitive agreement.
"The CCTI management team has been and, as reported today, is continuing to work diligently to secure financing for completion of the test facility. The proposed transaction with Black Diamond is being structured to secure the necessary financing to advance our company's technology toward its expected commercial viability in the U.S. and international markets," said Robin Eves, CEO and President of CCTI. "We look forward to finalizing our negotiations with Black Diamond, as we work to achieve our strategic goals of completing the test plant. In anticipation of potential financing, the management team of CCTI and Black Diamond are coordinating with the Company's engineering, procurement and construction (EPC) partner and other key contractors in order to expedite the completion and testing of the plant. Further updates and an announcement of a webcast shall follow accordingly," 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 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: 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 March 23, 2015