- Patented microwave technology substantially upgrades the thermal
value of coal and reduces GHG emissions and other pollutants
- Contracted price for construction of the facility is USD $6 million
VANCOUVER, British Columbia -- (Business Wire)
MicroCoal Technologies Inc. (CNSX:MTI) (the âCompanyâ)
reports, further to its news release dated July 29, 2013, that it has
received the project advance from PT Wijaya Tri Utama (âPWTUâ) required
under terms of the âMaster Agreementâ between PWTU and the Company. The
remaining balance will be secured by an irrevocable letter of credit
arranged by PWTU, acceptable to the Canadian Imperial Bank of Commerce
(CIBC), for the benefit of MicroCoalâ¢.
Slawek Smulewicz, CEO and Director of the Company, states: âWe are
very excited to be moving forward with PT Wijaya Ti Utama on this vital
project.We look forward to working closely with their capable
and dedicated team as construction of this facility gets underway.We
expect this to be just the first in a number of international projects
as we begin to roll out this transformational technology globally.â
About MicroCoal⢠Technologies Inc.
The Company is focused on commercializing its unique, clean-coal
upgrading technology known as MicroCoalâ¢; a low-cost, patented microwave
technology that reduces moisture in coal resulting in an upgraded energy
content of coal. This process provides significant financial benefits to
coal-fired electrical generating utilities such as: large cost savings
from switching to low-rank coal, substantial increases in boiler
efficiencies and heat output, improved ash efficiencies and reductions
in scrubber costs. Important environmental benefits including reductions
in most greenhouse gases (SOx up to 70%, NOx and mercury) are also key
primary benefits from implementation of this technology. The Company iscurrently constructing the first commercial facility in Indonesia
with other projects soon to be announced.
We seek safe harbor.
On behalf of the Board of Directors,
âSlawek Smulewiczâ
CEO and Director
For further information please contact:
Malcolm Bell
MicroCoal⢠Technologies Inc.
Telephone:
(604) 676 9792
E-mail: info@microcoal.com
FORWARD-LOOKING STATEMENTS
Certain statements included herein, including those that express
management's expectations or estimates of our future performance
constitute "forward-looking statements" within the meaning of applicable
securities laws. Forward-looking statements are necessarily based upon a
number of estimates and assumptions that, while considered reasonable by
management at this time, are inherently subject to significant business,
economic and competitive uncertainties and contingencies. Investors are
cautioned not to put undue reliance on forward looking statements.
Except as required by law, the Corporation does not intend, and
undertakes no obligation, to update any forward-looking statements to
reflect, in particular, new information or future events. Neither CNSX
nor its Regulation Services Provider (as that term is defined in the
policies of the CNSX) accepts responsibility for the adequacy or
accuracy of the release.
Contacts:
MicroCoal⢠Technologies Inc.
Malcolm Bell, 604-676-9792
info@microcoal.com
Source: MicroCoal Technologies Inc.
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