Clean Coal Technologies, Inc. (OTC: CCTC) announced an agreement with The Benham Companies, LLC, that supports commercialization of CCTI’s coal cleaning plants in China. SAIC has supported CCTI in the past and its predecessor companies since 1996. The previous support was in regards to the advancement of CCTI’s proprietary technology to pre-process coal for removal of up to 90% of pollutants and excess moisture before use as a clean-burning fuel in coal-fired power plants. With the agreement, the company saw a rise of 52.46% on Friday.
Having support from the US Department of Commerce, CCTI plans to build modular front-ends to power plants that will transform coal with high levels of impurities and contaminants into an efficient and clean-burning energy source. The joint venture brings great social and economic benefits and has received enormous support as well as encouragement from the Chinese government. In fact, the Chinese government has secured a 160-acre parcel of land for the construction and operation of the first of what could potentially be many CCTI plants developed in China.
Doug Hague, CCTI’s President and Chief Operating Officer, said, “Our agreement with Benham, a leading engineering and design build company, is further testimony to the viability of our technology, and our commitment to work with those companies that have the global recognition and capabilities to support and contribute to a project of this scale and importance. In conjunction with CCTI’s parallel $100M joint venture in China, this agreement reaffirms our commitment to taking a leadership role by leveraging our proprietary technology to provide a clean, inexpensive and pollution-free energy source that will enhance economic development while helping to protect the health and well being of people in China, India, and the rest of the world.”
Having begun operations on September 1, 2007, CCTI was formed through the acquisition of Clean Coal Systems, Inc. (CCSI) and a pink sheet shell company that facilitated CCTI’s listing on the OTC exchange in early October, 2007 under the symbol “CCTC.” The company’s technology will be marketed through numerous contractual relationships, such as; joint ventures, licensing agreements, and build/operate/transfer relationships. The technology costs 60-70% less by removing pollutants and contaminants that scrubbing doesn’t achieve, and allows raw, low-grade coal to be transformed via its multistage patented process into high grade, clean burning coal.
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