Clean Coal Technologies, Inc. (Pink Sheets: CCTC) (“CCTI”) has entered a Memorandum of Understanding (MOU) with Tianjin Tianning Coal Traders, Co., Ltd. (TTCT), under which TTCT will purchase a technology licensing agreement to build a clean coal facility in Inner Mongolia with a starting production limit of 1.5 million metric tons.
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The formal signing of the Clean Coal Technologies licensing agreement is believed to take place in March, 2010. CCTI will receive incremental license fees and also royalties based on production. The responsibility of receiving licenses, permits, coal reserves, and all construction related costs will belong to TTCT.
CCTI, which began operations on September 1, 2007, was formed through the acquisition of Clean Coal Systems, Inc. (CCSI) and a pink sheet shell company that facilitated CCTI's listing on the OTC exchange in early October, 2007 under the symbol "CCTC". CCTC intends to use a franchise model whereby CCTC will license its technology to third parties and exact a license fee, as well as a royalty fee, based on plant production.
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