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Provider: Wright Reports
Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Thomson Reuters StreetEvents

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Clean Coal Technologies Inc Moves to Dissolve Good Coal Joint Venture

Monday, 24 Dec 2012 08:31am EST 

Clean Coal Technologies Inc announced it has sent a notice of default and termination to AGPL Investments Pte. Ltd. (AGPL) pursuant to the default and termination provisions of the September 21, 2012 EPC Payment Agreement, the Heads of Terms Agreement dated effective March 13, 2012 and the Joint Venture Agreement in Respect of Good Coal, Pte. Ltd (JV) effective June 5, 2012, including the Exclusive Technology License Agreement incorporated therein. Under the default terms of the above, the Company is also seeking the immediate dissolution of the Good Coal joint venture. At this time, the Company is working to ensure that there is no disruption in the Oklahoma pilot plant construction schedule. The Company intends to assume the obligations for the project under a new construction contract and expects to own the completed pilot plant outright. The Company will use the funds already received from Ventrillion Management Company Ltd to ensure timely completion of the project. 

Company Quote

-0.01 -3.70%
30 Jul 2014