Clean Coal Agrees to Sign Technology License Agreement with Jindal Steel and Power Ltd., Agrees to Form Joint Venture with the Archean Group NEW YORK--(BUSINESS WIRE)--Clean Coal Technologies Inc. • March 16th, 2012 • Crude petroleum & natural gas
Clean Coal Technologies, Inc. (“CCTI”), a cleaner-energy technology company, “fully-reporting” and listed on the OTCQB (symbol CCTC), and Jindal Steel and Power Ltd. (“Jindal”) have agreed to enter into a Technology License Agreement (“TLA”) in lieu of the formerly announced Joint Venture Agreement contemplated under the Memorandum of Understanding signed between CCTI and Jindal on January 27, 2012. The decision to enter into the TLA was arrived at jointly and is beneficial for both companies as it allows Jindal to focus on its core business model in Indonesia of supplying dry, high-quality coal to their steel and power businesses in India while allowing CCTI to focus on the development and marketing of its technology to third parties.
AGPL Investments Pte Ltd Clean Coal Technologies, Inc. 7500A Beach Road, #11 -303, The Plaza 295 Madison Avenue, 12" Floor Singapore 199591 New York, NY. 10017Clean Coal Technologies Inc. • March 16th, 2012 • Crude petroleum & natural gas
This binding agreement is made and effective as of March 13, 2012 ("EFFECTIVE DATE"), between Clean Coal Technologies, Inc. ("CCTI"), a corporation established under the laws of Nevada, USA and having its principal offices at 295 Madison Avenue, New York, NY 10017, and AGPL Investments Pte Ltd ("ARCHEAN"), a company incorporated under laws of Singapore, and having its office at 7500A, Beach Road, #11-303, The Plaza, Singapore 199591, and pertains solely to the operations as set forth in this Agreement.
