Published on 29/8/2023 • Category:
CLEAN INVEST AFRICA PLC
("Clean Invest Africa"or the "Company")
£200,000 CLN Funds ReceiptClean Invest Africa Plc, the waste fines minerals recovery quoted company on the AQSE Growth Market, announces that, further to the announcement of 2 August 2023, the £200,000 under a Convertible Loan Note (CLN) has now been received by the investor.
The funds raised as a result of the issue of the CLN will also be used to provide additional working capital for the Company and its subsidiaries and in particular will support the initial stage of the CLAPS project with the Italian, Partner ISS International SpA, and the commercialisation of its Bulpan plant in South Africa.
Coaltech is continuing the development of its marketing and commercialisation strategy with a number of ongoing initiatives currently at advanced stages of development. A trading update will be released shortly, providing information on the key projects.
Filippo Fantechi, Chief Executive Officer of Clean Invest Africa plc and CEO of CoalTech Group, commented: "By participating in this fund raising the investor has shown confidence in the Company and its technology. The operating business, executed by commercialising its technology, continues to have bright prospects particularly through international expansion and we will update shareholders as events unfold."
ABOUT CoalTech technology ("CoalTech")
In the context of the global policy of environmental improvement, reconditioning of polluted areas and development of sustainable solutions for those industries (such as, but not limited to, coal) which have an impact in terms of environmental pollution, but which, at least for the next two to three decades, will have to continue to produce in order to sustain the demand for energy, CoalTech believes that the application of its technology, in addition to meeting the Global Environmental Improvement Policy, also effectively addresses the following problems:
(i) how to clean up/dispose of the more than 30 billion tonnes of coal dust now found worldwide as an unavoidable residue of coal mining processes, and
(ii) how to minimize the accumulation of further coal dust in those areas where coal mining ponds are still active and/or at the loading/unloading hubs of the coal trade routes such as ports and/or stations and/or in those industries that still use coal.
In other words, even if the ecological transition is making great strides, coal dusts will continue to damage the environment if they are not removed or minimised in cases where industries use coal (e.g. power plants, steel mills, etc.) and these last will takes years to complete the ecological transition with less polluting technologies, if available.
CoalTech uses the agglomeration process (pelletizing) to transform coal dust into spherical agglomerates (pellets) through the rotational and inclination forces generated in a Deep Drum Pelletizer and the amalgamation action of an organic, non-polluting agent developed in-house. The transformation process is then finalised by drying treatments to make the pellets transportable and reusable in various industrial applications.
CoalTech technology is the right balance for merging energy demand with governments' commitment to a clean world. In particular, it is a valuable vehicle for achieving goals #8, #9 and #15 of the UN 2030 Agenda combining the useful with the enjoyable. Useful because it is certainly effective in carrying out the initial reclamation of the land and/or the hubs of the trade routes and/or the coal storage areas of the power stations where tonnes of unused and environmentally harmful coal dust are still being deposited. Enjoyable because it is a business with a potential of millions of dollars as the process used does not alter the original characteristics of the coal (e.g. the calorific value and the chemical composition) and therefore the pellets produced, becoming transportable, can be sold on the market and have multiple uses, such as for example:
- be introduced into the coal market by blending with the original raw material, thus solving at the root the problem of coal dust accumulation and, in time, reducing the existing accumulation at the washing and/or storage plants
- be introduced into the circuit of those industries that use coal to produce other products such as: the steel industry to produce coke and the chemical industry for the production of ammonia, hydrogen, synthetic products such as solvents, dyes, pesticides, synthetic rubbers, explosives, plastics, medicines, and others
- originate a circular economy system as from the distillation of coal, it is also possible to obtain tar, benzol, phosphates, nitrates, sulfates, naphthalene, celluloid
- to become a raw material in the coal gasification process for the production of syngas; and
- to support, during the transition period, the less affluent populations that still live-in rural areas where the energy distribution network is not yet in place and will require years of work to make it available, so becoming a source of energy and house heating through the use of domestic stoves, already existing on the market, which, in addition to heating, can also produce a few kW useful to turn on a few light bulbs.
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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