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Environmental Clean Technologies clears approvals hurdle

Environmental Clean Technologies clears approvals hurdle

Environmental Clean Technologies (ASX:ESI) has received the final clearance from the Indian government to advance development of Coldry and Matmor technologies.

The Coldry process is a patented coal upgrading technology while the Matmor intellectual property encompasses environmentally conscious brown coal-based and iron making technologies.

The government approval sets up demonstration and pilot stage operations for Coldry and Matmor technologies, respectively.

This will be achieved via a tripartite collaboration agreement with Neyveli Lignite
Corporation (India’s largest lignite miner and power generator) and NMDC (India’s largest iron ore miner).

The parties are currently working to confirm scheduling of key personnel for a signing ceremony to be held in India at the earliest mutual availability.

The agreement is expected to lay out the key activities needed to move forward with Coldry and Matmor development via an integrated project approach while allowing appropriate flexibility around key decisions involving business structures, investment, including timing and methods, and post-project ownership options.

Environmental Clean Technologies progress working with public sector undertakings in India is believed to be positioning the company for becoming a truly global company offering global engineering solutions.

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