Clean Coal Technologies Inc. (CCTC) Receives Final Approval For Inner Mongolia Project
Posted 27 Oct 2010
Category CCTC, Market News
Clean Coal Technologies, Inc. (CCTC)
By Christopher “ShadowSpy69″ Perner
Clean Coal Technologies, Inc., CCTI, (Pinksheets: CCTC), a clean energy technology company, has announced the formal approval of their Inner Mongolia clean coal project.
In a press release issued yesterday, October 26th, 2010, the company stated, “CCTI’s joint venture has received the final project and environmental approvals from the Inner Mongolia Provincial Autonomous Region Development and Reform Commission, and the Inner Mongolia Autonomous Regional Environmental Protection Department, which now clears the way to proceed with the necessary activities to support the commencement of its initial technology deployment in the Ulanhot industrial complex.” This includes staffing of their joint venture operation, finalization of funding activities, sub-contracts with local services and materials suppliers, in addition to their primary engineering contractors in the US and Canada.
CCTI’s joint venture partner has been previously awarded the required permits for the commencement of the rail spur that will serve as CCTI’s facility, which according to the company is expected to commence in the Spring of 2011, and be completed the same year. CCTI will now have ninety days to provide approximately $1,670,000, representing the first 20% of CCTI’s partnership contribution, according to their lastest 10-Q. I expect that in the very near term we will hear about their financing solutions in order to satisfy this requirement, as well as other details regarding this project, and others when they file their next 10-Q.
Robin Eves, CCTI Chief Executive Officer and member of the Board of Directors, expressed, “This approval represents the culmination of many months of exhaustive efforts involving CCTI, our joint venture partner, the local Inner Mongolia Regional Xing’An League, and Provincial government entities.”
“This is the first project to have been approved within the new industrial park, and the first international joint venture undertaken by the Regional government. We look forward to the commencement of construction and acceptance of our initial production module.”
- Robin Eves, CCTI Chief Executive Officer
CCTI’s joint venture is estimated to generate roughly $350 million in revenue per year with a 30-year guarantee; this contract could be worth $10.5 billion, and promises to place CCTI in the forefront of their industry.
CCTI thus takes another step forward to becoming the dominant player based on the sophistication of it’s technology. The timing of this approval is perfect for pursuing other opportunities in China for a number of reasons. China is been under attack and scrutiny by the world press over its inability to contain its increasing pollution, which is a by-product of its economic growth. The New York Times, and other US major news media, has been attacking China on the pollution issue — one of their major crusades. This is creating a significant problem in public relations. CCTI’s technology gives China the “Silver Bullet,” to demonstrate to the world and its citizens their dedication and perseverance to solving this problem.
Other Projects Being Pursued:
* “CCTI continues its negotiations with Tianjin Tianning Coal Traders, Co., Ltd., (TTCT) to finance and construct an initial 1.5 million ton clean coal facility in Inner Mongolia under a Technology Licensing Agreement (TLA). Our discussions include separate contractual negotiations in conjunction with our sub-contractor Benham, who are responsible for all project engineering, procurement, and construction oversight. The final approval of the agreement is predicated on CCTI receiving the final project approval for its Inner Mongolia joint venture agreement.”
Since the Inner Mongolia Project just received final approval on October 26th, 2010, I tend to wonder how soon investors will be expecting an update on this project. Another project in the works, CCTI signed an exclusive Technology Licensing Agreement (TLA) on December 22th, 2009 with INK Global Consulting for the deployment of CCTC’s technology in India. From the latest update from CCTI:
* “The TLA provided for the funding and construction of clean coal facilities for an increasing production capacity of up to 100 million tons annually for a period of 20 years. This would represent some $100,000 million dollars in licensing fees, plus $200 million dollars per annum in royalties to CCTC. The initial license fee was payable as of the end of January 2010, however, the parties continue to negotiate on amendments to the TLA.”
For continuing discussion about Clean Coal Technologies Inc., visit the Market Playground’s CCTC forum.http://marketplayground.com/2010/10/...ect/#more-2340