Clean Coal Technologies Inc (OTCMKTS:CCTC) reported that they have finalized a binding term sheet to authorize their Pristine “M” know-how to the Diamond Energy Group, LLC. It is a newly established group of coal technology and engineering proficiency.
As per the finalized deal, Diamond Energy has a six month period to license the technology for a designated location in Wyoming. The terms of the deal include Clean Coal obtaining a license fee of $1 million per 1 million tons of capacity and also a royalty of $1.50 a ton. The option can be exercised six months after the launch of commercialization of Pristine “M” technology.
Additionally, Diamond Energy will be granted a sole license to develop and install the Clean Coal Technology throughout Montana and Wyoming in a joint venture with the company whereby royalties and license fees will be shared 50%-50%. In lieu for the option and in addition to royalties and license fees, Diamond Energy has to make three payments under an additional structured note under discussion.
Robin Eves, the CEO said that they are obtaining a significant interest from the Powder River Basin. They have finalized two additional NDA’s with groups seeking to capitalize on the commissioning of technology. Signing this deal with a group that has noteworthy exposure to the political systems and coal industry throughout Wyoming and Montana will help them to accelerate product roll out in the region.
The future ahead
Clean Coal has become a matter of interest for many parties across the world. The company is excited to have finalized a local deal that will complement the assessment of CCTI technology at AES, a unit focuses on PRB coal. The CEO added that they remain committed to the coal industry in the U.S.
Clean Coal Technologies Inc (OTCMKTS:CCTC) had a volatiles session yesterday as it finished the session with a loss of 3.89%. The volume rose to 470,000 against the daily average of 325,000, not a terrific improvement. The final closing price of $0.6920 is almost the same with the opening price of $0.69, creating the pattern of Doji with two long shadows on the two sides which indicate the short term indecision on the part of the investors very clearly. As long as the bulls can keep the two day low protected, the trend will remain firmly up.