CCT in clean coal JV with Archean
Thursday, May 31 2012 - 05:39 PM WIB
US firm Clean Coal Technologies, Inc. (CCT) announced on Thursday the formation of Good Coal PTE., Ltd., a Singapore-based Joint Venture between Indian firm Archean Group and CCT.
Under the agreement the JV will develop, deploy and market CCT?s Pristine-M? technology throughout the ASEAN region. The JV will be owned 55% by Archean Group and 45% by CCT. Through the JV partnership, a 1:10 scale commercial unit of the patented clean coal process is to be constructed in Oklahoma. Beyond the US $2 million estimated cost of the pilot plant, Archean Group has committed to contribute $2 million to the JV.
CCT participates in market of clean energy, through its patented Pristine? and Pristine-M? technologies, which reduces both moisture and unwanted volatile matter in coal.
Archean Group is present in Indonesia since early 2004 and owns several thermal coal-mining concessions that are under various stages of operations through its unit PT Core Mineral Indonesia. According to the company?s website it has an estimated reserves of around 200 million tonnes.
Editing by David Mustakim