2013-12-09 19:11:41 -
Jakarta, Indonesia, December 09, 2013 /FSC/ - MicroCoal Technologies Inc. (MTI - CNSX, CFQSF - OTC_Pink, OFS.S - Frankfurt),is pleased to announce that it has been recognised for its leading role and contribution to clean coal upgrading technology in Indonesia at the 12th Clean Coal Forum in Jakarta. This annual conference is Asia's premier coal event and addressed the most critical industry issues affecting Indonesia's thermal coal industry. MicroCoal's keynote address entitled "Real World Solutions for the Use of Microwaves to Improve Coal" was delivered by Slawek Smulewicz, CEO.
Slawek Smulewicz, CEO and Director of the Company, states: "This has been a valuable platform for MicroCoal(r) to showcase its latest and most advanced clean coal technology to the Asian marketplace.
I am most appreciative to the organizers of this conference for recognizing MicroCoal's unique contribution to the clean coal industry of Indonesia at a time when we will be inaugurating our first MicroCoal(r) facility on the island of South Kalimantan (Q2, 2014). I am especially encouraged by the interest generated for MicroCoal(r) by leading Indonesian utilities at the conference and by the opportunities it has presented for MicroCoal(r) in the future."
Indonesia exports approximately 75% of all thermal coal produced in SE Asia and its production of thermal and coking coal is forecast to hit 380 million tons in 2012, up 5.5% on this year's estimate. The Energy Ministry's forecast for coal production next year is 332 million tons, but that estimate does not include the output of smaller mining companies. About 62% of Indonesia's coal production is categorized as high moisture (ideal for the MicroCoal(r) process) which is used to fuel power plants at home and abroad.
About MicroCoal(r) Technologies Inc.
The Company is focused on commercializing its unique, clean-coal upgrading technology known as MicroCoal(r); 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:
J. Malcolm Bell
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.
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Source: MicroCoal Technologies Inc. (CNSX: MTI) www.microcoal.com
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