Clean Coal Technologies Inc (OTCMKTS:CCTC) yesterday announced that it was able to successfully transfer its test plant to the AES facility located at Shady Point in Oklahoma.
CCTI is one of the newest players in the clean energy market. The company uses patented technology to convert coal into a cleaner and efficient form of fuel. The firm will now reassemble the recently transferred plant so that it can start operations as soon as possible. The plant will commence the testing process on the Powder River Basin Coal as soon as possible.
Robin Eves, the current CEO and vice president of CCTI claims that the firm is approaching the initial stages towards setting up their technology for commercial operations. He also added that the firm has employed some of the most capable hands to work on the final stage of the project. It is expected to be complete within the next eight weeks. During that time, the company will welcome some of its potential clients to observe the initial testing proves. The firm hopes that if all goes well, more doors will open, and it will be able to shift into the next stage that is commercializing the technology. Once the initial goals are achieved, it will become easier for the company to market its product as well as achieving its targets. Mr. Eves is confident that things will go according to plan.
Clean Coal Technologies Inc (OTCMKTS:CCTC) has its headquarters in New York. The company has patent rights to a process that allows coal to be processed in a cleaner manner, thus making it more efficient despite the fact that it is a fossil fuel. The technology drastically reduces the amount of pollution emitted by burning coal. Once the technology is in place, many firms might benefit especially on lowered pollution fines as well a reduction in the costs incurred in coal burning.
Clean Coal Technologies Inc (OTCMKTS:CCTC) crashed vertically yesterday as it ended the last trading session with a huge loss of 34.84%. The volume surged to 1.4 million, many times higher than the daily average of 190,000, reflecting the increased supply pressure the bulls had to face in the market. In the last 3 sessions, the stock had appreciated more than 100% and at least a bout of profit booking, if not an outright reversal, was highly expected. The price action in the last session must be taken as a reversal and a bounce can emerge only if the support around $0.30 holds.