Clean Coal Technologies Inc. said it has completed the execution of a joint venture agreement with Archean Group, as well as an exclusive Technology Licensing Agreement with Good Coal PTE., Ltd., a Singapore-based Joint Venture entity with Archean.
The joint venture will allow both companies to develop, deploy and market Clean Coal Technologies' Pristine-M technology throughout the Association of Southeast Asian Nations (Asean) region. The JV is owned 55 percent by Archean Group and 45 percent by Clean Coal Technologies.
Through the JV partnership, a 1:10 scale commercial unit of the process is to be constructed in Oklahoma. Archean Group has committed to contribute $2 million towards the construction of the pilot plant through the JV.
Full-scale commercial plants are to be constructed in Indonesia once the pilot plant has been successfully commissioned by year-end 2012, or early 2013.
Read more testing news