Clean Coal Technologies Inc (OTCMKTS:CCTC) a growing cleaner-energy firm using technology to turn raw coal into a more efficient fuel reported that they have completed the transfer of test plant to its AES facility. The demonstration plant will be commissioned and reassembled so that it will be ready set to begin testing Powder River Basin Coal in the coming period.
The management speaks
Robin Eves, the President and CEO of Clean Coal, said that it is another major achievement and milestone for the company. They have moved into the final phases of commercialization process of Pristine “M” technology. The company boasts the most experienced team of experts at AES facility and thus, the management is very positive on the timely completion of the process in the next two months.
In the coming months, Clean Coal will host a number of prospective international and U.S. clients at the AES facility to assess the coal testing process. They expect that this assessment will result in a seamless transition to enter into the commercial phase for company’s patented technology. Also, the management will update on the progress of testing process as they continue to achieve defined objectives.
Clean Coal with headquarters in New York City, holds proprietary process technology and other advanced intellectual property that turns raw coal into efficient, cleaner and less polluting burning fuel. Its stock price recorded a weak session on Tuesday as it plunged more than 6% to close the day at $0.895.
Clean Coal is a strange company alright. It had refused to submit any financial reports, and therefore it is almost impossible to estimate company’s financial performance. In fact the only filings issued are Form 8-K and that too mostly convey about the bad news surrounding the company. The company latest financial report is more than a year old.
Clean Coal Technologies Inc (OTCMKTS:CCTC) negated almost all the gains made in the previous day as it ended the last trading session with a major loss of 6.96%. The volume of the day remained low at 260,000, much lower than the daily average of 424,000, emphasizing the corrective nature of the price action of the day. The stock has been finding support from a trendline on every correction in the last 2 months but a failure to hold above it would signal weakness. A correction to $0.65-$0.70 may be a natural occurrence in that case.