Coldry
Melbourne, April 29, 2009 AEST (ABN Newswire) - Environmental Clean Technologies Limited (ASX:ESI) advises that coal samples from Ilthabi Bara Utama (IBU) coal mine in East Kalimantan have responded successfully to Coldry testing.
The moisture from the IBU coal samples, that came from deep within the jungles of East Kalimantan, has reduced to as little as 13% from a starting moisture of 54%.
ECT Chief Executive Kos Galtos said these results were pleasing and ECT would now engage in more intensive discussions with IBU and ECT's construction partners to determine the commercial viability of a project in such a remote location.
"The results are encouraging and we are now exploring the realities of what it will take to actually build a plant in remote Borneo in terms of both infrastructure needs and people resources," he said.
ECT and IBU are in discussions over a Heads of Agreement (HOA) to build the plant, based on the outcome of an acceptable joint business model.
Mr Galtos recently spent three days in Jakarta with the Chairman of IBU and senior executives where it was agreed that subject to successful pelletisation and drying of coal samples, the next step would be a HOA.
It is envisaged ECT and IBU will enter into a joint venture to build a Coldry plant in East Kalimantan. IBU will provide enough coal from its Kalimantan mine, at an agreed price, to produce 10M t.p.a of Coldry for offsite consumption.
"There is genuine enthusiasm from both ECT and IBU to forge a strong relationship," Mr Galtos said.
"This presents another exciting opportunity for ECT and will provide a production facility within the south-east Asia market where huge potential exists for our company," he said.
About Environmental Clean Technologies Ltd
Environmental Clean Technologies Limited (ASX:ECT) bridges the gap between the current high emission reality and the zero-emission world of the future. ECT's technology aims to play a key role in the transitional pathway to net zero by utilising abundant low rank and waste fuel sources in a new, clean way. ECT's technology suite creates clean and reliable applications and products for the energy, agricultural and industrial sectors.
| ||
|
