Environmental Clean Technologies Limited (ASX:ESI) Signs Memorandum of Understanding with K-Coal of Korea
Melbourne, Jan 16, 2012 AEST (ABN Newswire) - Environmental Clean Technologies Limited (ECT or Company) (
ASX:ESI) advises that following meetings in South Korea it has signed a Memorandum of Understanding (MoU) with Korean based energy company K-Coal Co. Ltd. The MoU provides KCoal with exclusive sales and marketing rights into Korea for ECT's Coldry technology.
ECT Chairman and Managing Director Mr. Michael Davies stated, "K-Coal is well positioned to participate in supplying Coldry coal into the very large and growing thermal coal consumer industry in Korea. K-Coal will build on the very strong relationships its parent company S&J Group has with the major energy companies in the region".
S&J Chairman Dr. Kim Sung-Ryeal commented "S&J Group evaluated numerous coal drying technologies before we decided on Coldry. We like the fact that Coldry utilises a low temperature and low-pressure process, which means that the water released, is clean. S&J Group is a clean energy company and this is important to us. Also we are confident that ECT's Coldry process is cost effective when compared to other technologies."
S&J Group is a diverse, Busan Korea based group of companies. S&J have interests in Energy Distribution, Food Production, Leisure, Clean Technologies and Information Technology.
About Environmental Clean Technologies Ltd
Environmental Clean Technologies Limited (ASX:ECT) is in the business of commercialising leading-edge coal and iron making technologies, which are capable of delivering financial and environmental benefits.
We are focused on advancing a portfolio of technologies, which have significant market potential globally.
ECT's business plan is to pragmatically commercialise these technologies and secure sustainable, profitable income streams through licencing and other commercial mechanisms.
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