Doug Hague, President & Chief Executive Officer, today announced today that Clean Coal Technologies, Inc. (Pink Sheets: CCTC) has signed a Technology Licensing Agreement with INK Global Consulting to build clean coal plants utilizing CCTI’s patented technology in India.
INK Global, headquartered in both Chicago and India, represents a group of prestigious India interests who will ultimately be responsible for the construction and operation of the clean coal facilities throughout India. In demonstrating its dedication to environmental reform, several key partners have come to agreement for the deployment of clean coal technologies.
Under the terms of the agreement, INK Global will pay CCTI a one-time licensing fee based on production threshold increments of 1-million metric tons, with a commitment to install 10.0 million ton capacity per year for ten years (total of 100M tons). The agreement also includes a royalty payment to CCTI for each ton of lignite processed. Initial license revenues are anticipated within 45 days.
Company executives stated: “CCTI is very pleased to have been selected for this initiative. The deployment of our technology will represent a major milestone in helping to address India’s critical pollution and environmental challenges. This decision further reinforces the acceptance of CCTI’s technology as a viable solution within India, and other countries, and promises to establish CCTI as a leading provider of environmentally friendly solutions.”