Clean Coal Technologies (CCTC) Announced Today a Business Update

Rhea-AI Summary

Clean Coal Technologies, Inc. (OTC PINK:CCTC) announced a business update highlighting its recently filed Global Provisional Patent on advanced technology for its second-generation plant. This patent, filed on September 24, 2021, aims to enhance operational capabilities. Additionally, the company plans to present a restructuring proposal at the next Annual General Meeting, including a share reverse to secure funding and improve its balance sheet by retiring convertible obligations and debt, positioning CCTC for growth and successful plant commercialization.

Positive

• Filed a Global Provisional Patent for second-generation plant technology.
• Restructuring proposal aimed at securing funding for plant commercialization.
• Plan to retire convertible obligations and existing debt.

Negative

• Relying on shareholder approval for proposed restructuring and funding.

NEW YORK, NY / ACCESSWIRE / October 5, 2021 / Clean Coal Technologies, Inc., (OTC PINK:CCTC) ("CCTI" or the "Company"), the leading clean-energy company utilizing patented and proven technology to convert run of mine coal into a cleaner burning and more efficient stabilized fuel, today announced a business update.

"We are pleased to announce that we have filed a new Global Provisional Patent granting CCTI global protection on the significantly improved technology and its deployment capabilities of our second-generation plant. This provisional patent was filed on September 24, 2021 and will run in conjunction with our existing patents" stated Mr. Robin Eves, CEO of CCTI.

"Also, following extensive discussions on financing options with our primary investors, management and the Board of Clean Coal Technologies Inc., a restructuring proposal has been approved to present to our shareholders at our next Annual General Meeting. We will be seeking approval to do a share reverse to enable us to raise the necessary funding to complete and commercialize our second-generation plant in Wyoming. At the same time this restructuring will clean up our balance sheet by retiring convertible obligations together with most of the existing debt leaving the company in a strong and commercial position to finalize construction and commissioning of our Wyoming plant. This is a vital step to ensure the medium and long term success of our Company" concluded Eves.

Details of the forthcoming shareholder meeting will be announced in due course.

About Clean Coal Technologies, Inc.

Clean Coal Technologies, Inc., a cleaner-energy technology company with headquarters in New York City, NY, holds patented process technology and other intellectual property that converts raw coal into a cleaner burning fuel. The Company's trademarked end products, "Pristine" coals, are significantly more efficient, less polluting, more cost-effective, and provide more heat than untreated coal. The principal elements of the Company's pre-combustion technology are based on well-proven science and tried-and-tested industrial components. The Company's clean coal technology may reduce some 90% of chemical pollutants from coal, including Sulfur and Mercury, thereby resolving emissions issues affecting coal-fired power plants. For more information about Clean Coal Technologies please visit: www.cleancoaltechnologiesinc.com

Forward Looking Statements

This release may include forward-looking statements related to CCTI's plans, beliefs and goals, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such statements include, but are not limited to, statements about CCTI's plans, objectives, expectations and intentions with respect to future operations, its products, its ability to secure financing for its operations, the impact on the industry and other statements identified by words such as "will," "potential," "could," "can," "believe," "intends," "continue," "plans," "expects," "anticipates," "estimates," "may," and other words of similar meaning or the use of future dates. Additional details about CCTI's business and its operations that could affect CCTI's actual results are described in CCTI's filings with the Securities and Exchange Commission, including the "Risk Factors" that are part of its most recent annual report on Form 10-K for the year ended December 31, 2020 and in each of its subsequently filed periodic reports. All forward-looking statements in this release speak only as of the date of this news release. CCTI undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

For More information please contact:
Sean Mahoney, Media consultant:
smahoney@cleancoaltechnologiesinc.com

SOURCE: Clean Coal Technologies, Inc.

View source version on accesswire.com:
https://www.accesswire.com/666858/Clean-Coal-Technologies-CCTC-Announced-Today-a-Business-Update

FAQ

What recent patent did Clean Coal Technologies (CCTC) file?

CCTC filed a Global Provisional Patent on September 24, 2021, for its improved second-generation plant technology.

What is Clean Coal Technologies' plan for funding?

CCTC plans to present a restructuring proposal at the Annual General Meeting to approve a share reverse for raising necessary funding.

What financial restructuring is Clean Coal Technologies proposing?

The proposal includes retiring convertible obligations and reducing existing debt to strengthen the balance sheet.

When will Clean Coal Technologies hold its next shareholder meeting?

The date for the next Annual General Meeting, where the restructuring proposal will be discussed, will be announced in due course.