Jatenergy sets up JV to promote Coal Plus

By Harry Roy Gunawan

ASX-listed Jatenergy announced the launch of a subsidiary joint venture (JV) company, Jatenergy Development Pty Limited, to support the marketing of its coal, Coal Plus and jatropha assets, and the receipt of $1 million from our joint venture partner.

Jatenergy has made a strategic decision to establish Jatenergy Development as a special marketing and development vehicle with the necessary funding to promote the company?s assets throughout China and Southeast Asia.

It said that the joint venture partner is Caiguo Shang, a Shanghai businessman who has invested $1 million in the jv in exchange for 25% equity ownership.

The joint venture also enables Jatenergy to actively promote its Coal Plus technology throughout Australia and Southeast Asia, with initial focus on Victoria?s Latrobe Valley, Indonesia and the Philippines, to capitalize on the strong interest in the technology from many coal miners, financers and industrial construction companies.

The use of Coal Plus could increase the amount of energy extracted from coal, and reduce carbon emissions.

Editing by Adianto P. Simamora