Two companies have signed an agreement that will apply American technology to solving China's pollution from coal-fired power plants, factories and household use.
U.S.-based Clean Coal Technologies will join with Shanxi Poar Group to create a joint venture company that will build the processing facilities to transform dirty coal with high levels of impurities, contaminants and other polluting elements into an exceptionally efficient, clean and inexpensive source of high energy, low polluting fuel.
The agreement, estimated at US$100 million in capital, is expected to lead to additional sales of this clean coal technology as China works to improve the environmental conditions in preparation for the Olympics and beyond. Over the next five years, China expects to add nearly 200 coal plants, fueling billions of dollars in demand for clean coal technologies.
Dr. Mitch Shapiro, president and CEO of CCTI stated that, "We are committed to serve the needs of the Chinese people. We want to use our success in solving China's major pollution problem as a model that we can replicate in India and throughout the world where people are suffering from the effects of pollution. With our partner, one of China's leading industrialists, Mrs. Guo Lihua and her extraordinary management team, we will seek to blend the best marriage of American technology and Chinese industrial leadership to profoundly benefit and positively the impact the lives of hundreds of millions of Chinese people."
