The Government of Canada Provides Support to MicroCoal® Technologies Inc.
January 23 2014 - 11:00AM
Business Wire
MicroCoal® Technologies Inc. (CSE: MTI) (OTC:
CFQSF) (Frankfurt: OFS.F) (the “Company”) is pleased to
announce that the National Research Council of Canada Industrial
Research Assistance Program (NRC-IRAP) is providing advisory
services, as well as funding, of up to $50,000 to support the
testing of the effect of microwave radiation on coals and to
evaluate methods to prevent the re-absorption of moisture.
Dr. James Young, Chairman of the Board states: “We are very
pleased to receive the support of NRC-IRAP. Investment of this kind
is essential and extremely important for all Canadian technology
companies especially at a time when the world economies are
starting to rebound from the depths of uncertainty. We look forward
to working with NRC-IRAP.”
About MicroCoal® Technologies Inc.
MTI is engaged in the global commercialization and roll-out of
its proprietary microwave coal drying technology known as
MicroCoal®. Classified as “coal-upgrading technology” MicroCoal®
removes unwanted moisture and contaminants in all types of coal.
The MicroCoal® process is an ideal solution for coal producers
wishing to achieve higher prices for their coal as well as
coal-fired utilities seeking substantial fuel cost savings by
switching to low-rank fuels (i.e. up to $40 million per year for a
large 1000 MW power plant) or to simply make improvements to boiler
and plant operating efficiencies when combusting their normal fuel
type. The process occupies a small footprint and takes place either
on site the coal-fired utility or at any point between the power
plant and the mine site provided a suitable power supply is
available.
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 being
announced shortly.
We seek safe harbor.
On behalf of the Board of Directors,
“Slawek Smulewicz”
CEO and Director
For further information please contact:
J. Malcolm Bell
V.P. Corporate Communications
MicroCoal® Technologies Inc.
Telephone: (604) 676 9792
E-mail: m.bell@microcoal.com
FOWARD-LOOKING STATEMENTS
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 CSE nor its Regulation Services Provider (as that term is
defined in the policies of the CSE) accepts responsibility for the
adequacy or accuracy of the release.
MicroCoal® Technologies Inc.J. Malcolm BellV.P. Corporate
Communications604-676-9792m.bell@microcoal.com