Clean Coal Technologies Announces Funding Level for Pilot Plant Reaches $1.4 Million Threshold
Clean Coal Technologies Implements its Strategic Plans as Development of the 1:10 Scale Pilot Plant Continues
NEW YORK--(BUSINESS WIRE)-- Clean Coal Technologies, Inc. (OTCQB: CCTC) (PINK: CCTC), an emerging cleaner-energy company utilizing patented technology to convert raw coal into a cleaner burning and more efficient fuel, has announced the funding for its pilot has reached the $1.4 million threshold from Good Coal PTE., Ltd., Clean Coal's joint venture with the Archean Group. This payment is due as part of the previously announced Engineering, Procurement and Construction ("EPC") contract.
"Reaching $1.4 million in funding is a significant milestone for the construction of our pilot plant," stated Robin Eves, Director, President and CEO of Clean Coal Technologies. "We look forward to taking the necessary steps toward successful commercialization of our unique clean coal process and keeping our investors abreast of our developments along the way. As we stated previously, we will be making our last announcement once funding reaches the $2.4 million level."
The $1.4 million in funding by Archean Group to commence construction of the pilot plant is part of the full-value of the $2.4 million assured under the EPC contract. The 1:10 scale pilot plant in Oklahoma will help validate Clean Coal Technologies' patented process to create a cleaner burning fuel.
For more information on Clean Coal Technologies' unique cleaner-burning process and its applications in coal-fired plants, please visit: www.cleancoaltechnologiesinc.com/design.html.
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: www.cleancoaltechnologiesinc.com.
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.
Clean Coal Technologies, Inc.
Mr. Robin Eves, Director, President & CEO
Financial Communications Contact:
Trilogy Capital Partners
Darren Minton, President
KEYWORDS: United States North America New York
The article Clean Coal Technologies Announces Funding Level for Pilot Plant Reaches $1.4 Million Threshold originally appeared on Fool.com.
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