Companies Sign Venture Agreement Applying Clean Coal Technologies
Beijing - Two companies have signed a historic agreement that will apply American technology to solving China's number one challenge - the pollution from coal-fired power plants, factories and household use. Clean Coal Technologies, Inc. (CCTI) of Florida, USA will join with Shanxi Poar Group, headed by CEO and General Manager Mrs. Guo Lihua, to create a joint venture company that will build the processing facilities to transform dirty coal with high levels of impurities, contaminants and other polluting elements into an exceptionally efficient, clean and inexpensive source of high energy, low polluting fuel.
The agreement, estimated at $100M in capital, is expected to lead to additional sales of this clean coal technology as China works to improve the environmental conditions in preparation for the Olympics and beyond. Over the next five years, China expects to add nearly 200 coal plants, fueling billions of dollars in demand for clean coal technologies.
Dr. Mitch Shapiro, President and CEO of CCTI stated that, "We are committed to serve the needs of the Chinese people. We want to use our success in solving China's major pollution problem as a model that we can replicate in India and throughout the world where people are suffering from the effects of pollution. With our partner, one of China's leading industrialists, Mrs. Guo Lihua and her extraordinary management team, we will seek to blend the best marriage of American technology and Chinese industrial leadership to profoundly benefit and positively the impact the lives of hundreds of millions of Chinese people."
Press Conference Scheduled in Beijing
The company's top executives will be available for interviews before and after a press conference in Beijing sponsored by the United States Commercial Service. The conference will begin at 2 PM on Tuesday, November 6th. It will be held in the Foreign Commercial Service Booth at the US Pavilion at the China Coal and Mining Expo in Beijing. The venue is the China Agricultural Exhibition Center. This is a wonderful opportunity for members of the media to learn more about this exciting technology and how it will benefit the Chinese people.
At this conference, Shapiro will take the opportunity to warmly thank the many Chinese officials that have shown their confidence and support in this very important project for China's future. The entire world is watching China and now, China will provide global leadership that can positively impact all countries that have significant reserves of coal. Turning dirty coal into pure, clean power benefits everyone throughout the world.
A preliminary announcement on the pending agreement has already generated tremendous front page attention and interest by the government and media at the recent China (Taiyuan) International Coal and Energy New Industry Expo held in Taiyuan, Shanxi Province, the largest energy base and coal producing area of China. The initial coal cleaning plants will be built in Shanxi province to serve several large power stations which supply power to Beijing and other major cities. The joint venture project was acclaimed as one of the most substantial achievements of the Coal and Energy Exposition.
Due to its significant social and economic benefits, the joint venture has received tremendous support and encouragement from the Chinese government. At a banquet hosted by Shanxi Provincial government for the recently held Taiyuan Expo, both the Minster of Commerce Mr. Bo Xilai and the Governor Mr. Meng Xuenong discussed the project in detail with CCTI executives. An 80-acre parcel of land has been committed by the local government to the joint venture for the construction and operation of the CCTI plant.
At the commencement of the Expo, representatives of CCTI were given a "warm" welcome. Leaders from China's central and Shanxi provincial governments, including State Councilor and Vice Secretary-General of the State Council Mr. Hua Jianmin, Vice Minister of Commerce Mr. Gao Hucheng and Vice Shanxi Governor Mr. Song Beishan had meetings with CCTI executives.
SOURCE: Clean Coal Technologies, Inc.