CLEAN INVEST AFRICA PLC
("CIA" or the "Company")
CIA, Heads of Agreement for Feasibility Study and Commercialisation of a 5,000 tonnes per month pelletising plant in New South Wales, Australia, with offtake.
Clean Invest Africa plc is pleased to announce that its wholly owned subsidiary Coaltech Limited (“CoalTech”), has successfully negotiated and signed a Heads of Agreement with a New South Wales, Australia based entity to conduct a feasibility study for the establishment of a circa 5,000 tonnes per month coal pelletising plant which, if viable, would likely be contracted and operational in 2021.
The feasibility study will be completed within about 3 months and subsequent commercialization comprising fabrication and installation of the plant would take approximately a further 9 months.
If commercially viable and contracted, the plant would be adjacent to an established power station where the counterparty has secured both mining rights and an offtake.
The project, with a plant producing circa 5,000 tonnes per month, will act as a demonstration unit but is expected to be commercial and yielding a significant return. This will enable CoalTech to scale its technology to much larger production volumes in Australia as its CoalTech partner has engaged with various government authorities overseeing the coal mining industry as well as overseeing the remediation of old coal mines in New South Wales. Further the counterparty expects to secure agreement on permits for the processing of old fine dumps at nominated sites in New South Wales.
Filippo Fantechi, CEO of Clean Invest Africa plc, commented " Today’s announcement confirms once again the significant global potential of our technology this time in Australia and the steady progress we are making in the development of our opportunity pipeline across continents, notwithstanding the great challenges posed by the current pandemic. This project will provide a great opportunity to demonstrate thatCoaltech technology provides a beneficial impact on the environment by significantly reducing millions of tonnes of coal fines or coal dust currently stockpiled at mine locations and at loading and unloading terminals around the world. CoalTech is about cleaning planet earth and this is another step towards the commercial realization of the CoalTech business model.”
The Directors of the Company accept responsibility for the content of this announcement.
Clean Invest Africa PLC
Filippo Fantechi - Chief Executive Officer/Executive Director
Telephone: +973 3 9696273
Peterhouse Capital Limited
Telephone: +44 20 7469 0930