CLEAN COAL TECHNOLOGIES, INC. SIGNS ADDITIONAL MEMORANDUM OF UNDERSTANDING IN INNER-MONGOLIA.
Wednesday, June 18th 2008. Coral Springs, Florida. Doug Hague, President & Chief Operating Officer, today announced today that Clean Coal Technologies, Inc. (NASDAQ Pink Sheets CCTC) has signed a Memorandum of Understanding with Sino-Mongolia International Railroad Systems, Co. Limited. of Inner Mongolia Autonomous Region, PRC (SMIRSC). The MOU amends a previous agreement, and provides for specific milestones to determine the suitability of CCTI’s technology to enhance some 2.0 billion metric tons of lignite coal deposits as a high grade fuel source for a new power station and gasification plant scheduled for construction at a new industrial park, scheduled for commencement 4Q2008. Per the MOU, CCTI will immediately conduct coal sample testing to confirm the suitability of the lignite for the CCTI process. If this testing is successful and a subsequent land feasibility study is positive, the two parties plan to sign a Joint Venture agreement in October, 2008. Under the terms of the proposed JV agreement, CCTI would construct an initial plant to process the 1.5 million metric tons per year required by the new power plant. Thereafter, subject to its successful outcome, the CCTI project would be expanded to an output capacity of some 15 million metric tons over a 5 year period. The majority of the coal enrichment project would be focused on coal gasification and the production of chemical by-products. SMIRSC will be responsible for providing the raw coal, and for purchasing the upgraded product, plus the establishment of marketing and distribution for all chemical and coal products produced by the JV. SMIRSC will also be responsible for the provision of the sites, utilities, services and transportation infrastructure required by the project. Details of the capital structure, scale of capital investment and other cooperative conditions for the JV are subject to further discussion between the parties. Company executives stated, “Our signing this MOU with SMIRSC represents the largest single opportunity to date for CCTI, and promises to provide a solid foundation for our entry into the China market. With the support of senior local government officials and committed funding, all coupled to the critical need for our technology, CCTI is positioned to take a leadership position in the provision of clean coal technologies, which will also provide millions of gallons of scarce water to other sectors, including agriculture, industrial and urban development.”
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