2013-09-16 11:12:15 -
Vancouver, British Columbia CANADA, September 16, 2013 /FSC/ - MicroCoal Technologies Inc. (MTI - CNSX),(the "Company" or "MicroCoal(tm)) is pleased to announce that the initial project payment has been made to PT Citicon Energy ("CEN") for the construction of the first MTI plant in Indonesia, and site-work construction commences of the first commercial MicroCoal(tm) facility installation at the PT Wijaya Tri Utama power plant in Banjarmasin, the capital of South Kalimantan, Indonesia. Pursuant to the contract, CEN is responsible for all aspects of engineering, construction and project management.
The MicroCoal(tm) facility has been designed and engineered to upgrade the calorific value of approximately 190,000 tonnes per year of low-rank coal (approximately 8,000 Btu/lb.) to a higher calorific coal (approximately 9,000
Btu/lb.) by removing only 10% of the total moisture. Further, MicroCoal(tm) has concluded that its technology has another significant element, it can substantially increase the calorific content of this specific low-rank Indonesian coal above 11,000 Btu/lb. by reducing the moisture content.
Slawek Smulewicz, CEO and Director of the Company, states: "I am pleased that MicroCoal(tm) has engaged the energy division of PT Citicon, a well respected Indonesian construction and engineering company. MicroCoal(tm) is now looking forward to working with PT Citicon to commence the first commercial installation in the world.
In addition to this commercial project, I am very encouraged by the interest which has been generated for MicroCoal(tm) from leading utilities in the US and around the world to build commercial installations that will reduce costs, enhance the performance of their coal powered facilities, and improve the quality of the environment."
About PT Citicon Group
Citicon, founded in 1990, has expanded over time to be one of the most respectable construction companies in Indonesia. During 1990s, the Group gained experiences by building local market places, trade centers, and later on, shopping malls. Supported by its experiences in civil constructions, the Group landed its first Government project in 2002 with the Indonesian State Electricity Company. In addition, the Group is active in power plant, electrical transmission and distribution projects with at least ten Government projects completed since 2002 and seven more projects still on-going.
About MicroCoal(tm) Technologies Inc.
The Company is focused on commercializing its unique, clean-coal upgrading technology known as MicroCoal(tm); a low-cost, patented microwave technology that reduces moisture in coal resulting in an upgraded energy content of coal. This process provides significant financial benefits to coal-fired electrical generating utilities such as: large cost savings from switching to low-rank coal, substantial increases in boiler efficiencies and heat output, improved ash efficiencies and reductions in scrubber costs. Important environmental benefits including reductions in most greenhouse gases (SOx up to 70%, NOx up to 50%, CO2 up to 17%) and mercury are also key primary benefits from implementation of this technology. The Company is currently constructing the first commercial facility in Indonesia with other projects soon to be announced.
We seek safe harbor.
On behalf of the Board of Directors,
CEO and Director
For further information please contact:
MicroCoal(tm) Technologies Inc.
Telephone: (604) 676 9792
Certain statements included herein, including those that express management's expectations or estimates of our future performance constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward looking statements. Except as required by law, the Corporation does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events. Neither CNSX nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of the release.
To view the press release as a PDF file, please click on the following link:
Source: MicroCoal Technologies Inc. (CNSX: MTI) www.microcoal.com
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