Clean Coal Technologies Inc (OTCMKTS:CCTC)
Clean Coal Technologies Inc (OTCMKTS:CCTC) shares rallied 8.56%, after the clean energy company announced a receipt of deposit for the construction of a two million ton facility using its Pristine M process. The Wyoming New Energy facility, first announced in June, is to be built by Kiewit Construction.
WNEC Two Ton facility
WNEC has already entered into a financing agreement with Piper Jaffray as it seeks to raise $80 million in debt to help finance the construction the plant.
“This revenue validates our patented Pristine M technology. With the aid of our EPC contractors Kiewit, the final commercial design of the plant is expected later this year and will provide customers worldwide with the blueprint for a cleaner, more efficient and cost effective fuel,” stated Robin Eves, CEO and President of Clean Coal Technologies Inc (OTCMKTS:CCTC).
Kiewit engineers have already started work on the massive project. Over the past two months, the engineers have fine-tuned the test plant near Tulsa, OK with hot runs poised to commence over the next few days.
Pristine M Technology Validation
Renewed investor interest in Clean Coal Technologies Inc. (OTCMKTS:CCTC) comes on growing confidence of the impact the project could have on the company’s Pristine M technology. The technology is designed to convert normal coal into a cleaner burning fuel. Pristine coal products have already proved to be more efficient, less polluting and more cost effective than untreated coal.
The clean coal technology can reduce up to 90% of chemical pollutants such as sulphuric and mercury. The company has already received patent awards for the technology in Brazil and Colombia, which are key markets for the technology.
Separately, the Fifteenth Judicial Circuit in Palm Beach, Florida has overturned a jury verdict awarded to Plaintiff Yessenia Soffin and William Jordan Soffin at the expense of Clean Coal Technologies Inc. (OTCMKTS:CCTC).
“It was clear that the Plaintiffs failed to present any competent, substantial evidence in support of their outrageous claims for alleged lost profits in this case. There was absolutely no way for the jury to determine the Plaintiffs’ purported damages within a reasonable degree of certainty due to the highly speculative nature of the stock market,” said Kristen Lake Cardoso, Clean Coal Technologies Inc (OTCMKTS:CCTC) attorney
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.