Clean Coal Technologies Inc., the leading clean-energy company utilizing patented and proven technology to convert run of mine coal into a cleaner-burning and more efficient stabilized fuel, has announced a business update.
"We are pleased to announce that we have filed a new Global Provisional Patent granting CCTI global protection on the significantly improved technology and its deployment capabilities of our second-generation plant,” said CEO Robin Eves in a statement.
“This provisional patent was filed on September 24, 2021, and will run in conjunction with our existing patents.”
Furthermore, Eves said that, following extensive discussions on financing options with its primary investors, management, and board, the company has approved a restructuring proposal that will be presented to shareholders at its next Annual General Meeting.
READ: Clean Coal Technologies inks memorandum with economic development organization in Wyoming
“We will be seeking approval to do a share reverse to enable us to raise the necessary funding to complete and commercialize our second-generation plant in Wyoming,” Eves said.
“At the same time this restructuring will clean up our balance sheet by retiring convertible obligations together with most of the existing debt leaving the company in a strong and commercial position to finalize construction and commissioning of our Wyoming plant. This is a vital step to ensure the medium and long term success of our Company.”
The New York City-based company's clean coal technology may reduce some 90% of chemical pollutants from coal, including sulfur and mercury, thereby resolving emissions issues affecting coal-fired power plants.
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