New York, NY / ACCESSWIRE / August 28, 2014 / Clean Coal Technologies, Inc. (OTCQB: CCTC) ("CCTI"), an emerging cleaner-energy company utilizing patented technology to convert raw coal into a cleaner burning and more efficient fuel today addressed the unusual trading activity in shares of CCTC and provided the following update.
"The Management of Clean Coal Technologies, Inc., fully shares stockholders' concerns regarding recent unusual trading activity in our stock. Although it has been a strict internal policy to communicate with shareholders only when the Company has consummated material events affecting our business, we take this opportunity to assure all stockholders and investors that the fundamentals of CCTI are stronger than ever. We know of no fundamental development nor rational explanation for the recent share price drop," said Robin Eves, President & CEO. "We remain steadfast in our commitment to execute on our plan and are proceeding according to the expectations we have established," he continued.
Recent Developments
Three weeks ago, CCTI accompanied a Korean company to Tulsa, OK where due diligence on the Pristine-M process was completed. The Korean company represents a good fit for CCTI. It brings existing business relationships of immediate importance to CCTI while CCTI offers a clear growth opportunity for that company's existing business, and represents an opportunity to enter into a promising complementary business.
After a very successful trip to Tulsa, OK, where Leidos engineers explained the Pristine process and escorted the group through our nearly completed pilot plan facility, we parted with the understanding that we would present the Korean company with a term sheet covering a direct investment and a joint venture. The term sheet was presented last week; CCTI is awaiting response. CCTI Management has been in frequent communication with our Korean counterparts since.
The proposed investment by the Korean company would be sufficient to complete the pilot plant, transport it to AES, and complete the test program. Once funding is in place, it is estimated that the plant will be completed within 8 to 10 weeks; that it will take about 2 weeks to transport it to Shady Point; and that the test program to be conducted by Leidos will take a further 4 to 6 weeks. The site preparation work, including coal handling equipment and auxiliary burners are already in place at Shady Point.
Business Pipeline
CCTI has a strong pipeline of business in place and is very confident that it will be able to successfully execute its business plan directly upon acceptance and agreement of terms with its investor. Near term opportunities for deployment of the Pristine-M process have come about through our contact with Korean companies. CCTI Management will undertake to keep stockholders apprised with further updates as the work progresses.
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 Statement
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.
For More information please contact:
Investor Relations Contact
Scott Arnold
CorProminence
377 Oak Street, Level 2
Garden City, NY 11530
Phone: 516-222-2560
[email protected]
SOURCE: Clean Coal Technologies, Inc.