Carbon Friendly signs LOI for development of MicroCoal facility

Source:Carbon Friendly Solutions

Carbon Friendly Solutions Inc. (CNSX: CFQ) is pleased to announce that its subsidiary, MicroCoal International Inc. (MCII) has entered into a Letter of Intent (LOI) with PT Citicon Energy (CEN) to undertake construction of a commercial MicroCoal installation for their PT Wijaya Tri Utama (WTU) coal-fired power plant facility in Banjarmasin, the capital of South Kalimantan, Indonesia.

MCII has an internationally patented technology that is expected to improve coal-fired utilities’ economic performance by reducing input costs, improving operations and simultaneously reducing their environmental footprint.

Pursuant to the LOI, CEN is responsible for providing MCII with cost proposals for construction of the commercial Installation, including schedules for project management, organizational management and engineering. Further, MCII and CEN are jointly responsible for the construction of the Installation. The parties anticipate completion of the project plan for the Installation in approximately one month.

Slawek Smulewicz, CEO and Director of the Company, states: “I am pleased that MicroCoal has entered into an agreement with the energy division of PT Citicon, a respected large Indonesian construction and engineering company. MicroCoal is now ready to commence construction of its first commercial installation. The Company has made quick progress since it signed its LOI in December of 2012 with its Indonesian customer, WTU. In addition to this commercial installation, MicroCoal is actively generating interest from leading utilities in the US and around the world to build commercial installations, to reduce their costs and enhance the performance of their coal powered facilities.”

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