CLEAN INVEST AFRICA PLC
("Clean Invest Africa", the "Group" or the "Company")
CoalTech Announces Commencement of Project CLAPS in association with its Italian Partner ISS International S.p.A.Clean Invest Africa Plc, the waste fines minerals recovery company quoted on the AQSE Growth Market, is pleased to announce the commencement of a project in Italy by its clean coal subsidiary CoalTech Limited. CoalTech will start cooperation with its Italian partner ISS International S.p.A working on project "Clean Land And Power System" ("CLAPS") aiming to provide an advanced solution to the recovery and disposal of coal dust by processing the dust into pellets for subsequent industrial uses as a green technology.
On 11 July 2013, the Ministry of Enterprise and Made in Italy, granted the research and development project, under the Special Revolving Fund for Technological Innovation .
Coaltech will provide know-how and expertise in the mining sector, with particular reference to waste fines management and will continue supporting ISS International Spa in the successful implementation of the project throughout the entire duration of the work.
CoalTechc and ISS International Spa have entered into a Project Development Consulting Agreement, which will generate revenue in the range of 1 million euro for CoalTech during its involvement in the project, which is officially set to start on 1st August 2023 and is expected to last approximately 24 months.
The above project is part of the Framework Program for Research and Innovation "Horizon Europe", referred to in Regulation (EU) 2021/695 of the European Parliament and of the Council of April 28, 2021 and referred to in Council Decision (EU) 2021/764 of May 10, 2021, which aims to strengthen the world of science and technology in order to stimulate industrial competitiveness and implement the objectives of sustainable development and digital and green transition in the European Union.
CLAPS aims at developing a highly innovative solution that will be demonstrated by the Company's mobile agglomeration plant prototype for the conversion of coal dust into pellets, as the ultimate goal of CLAPS. The mobile test unit, fully automated, will include a fines preparation section, a transformation section into pellets and a drying section in order to obtain a final product that can be used at industrial scale.
Applications for the technology will be immediately provided to target opportunities such as the one offered in the area formely know as ex-ILVA in Taranto (the largest steel plant in Europe and one of the largest in the world) and the ENEL coal thermal power plant located in Cerano (Brindisi), where large volume of fines deposits are stockpiled in covered and uncovered area, still generating significant challenges for the Apulia Region from an environmental point of view.
Similar opportunities to the Company, although at smaller scale, could also be available in the Sulcis area in Sardinia.
The above-mentioned facilities have been granted to ISS International Spa, the CoalTech Italian partner, which submitted the project funding application on 11th May 2022. Coaltech has been working alongside ISS International Spa, during the preparation of the funding application, the subsequent due diligence phase carried out by the Italian Government Authority in association with Banca Intesa Sanpaolo, the financial institution appointed by the Italian Government to manage the financial disbursement of the project funding, and the submission of the updated funding application in late April 2023.
CIA Chief Executive Officer Filippo Fantechi remarked that, "the successful award of this project indicates the scale and scope of the work done by the management team promoting CoalTech technology with many high potential opportunities in different geographies. We stayed the course, across a world pandemic and a very difficult political situation, and we are now celebrating our first win.
ISS International Spa Chairman and CEO, Giuseppe Bellantoni, highlighted "CLAPS" (Clean Land And Power System) project, in collaboration with CoalTech, is a groundbreaking initiative poised to revolutionize the energy and environmental landscape. This innovative project holds our promise of a greener and more efficient future. We aim to set a significant example for the global energy industry."
Further announcements on the progress of the project will be given in due course.
The Directors of the Company accept responsibility for the contents of this announcement.
ENQUIRIES :
Clean Invest Africa plc
Filippo Fantechi (Executive Director) +973 3969 6273
Shaikh Mohamed Abdulla Khalifa AlKhalifa (Non-Executive Chairman) +973 3969 2299
Peterhouse Capital Limited
Corporate Adviser +44 20 7469 0930
Guy Miller/Mark Anwyl
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