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Tuesday, 30 July 13
WIJAYA TRI UTAMA PURCHASES MICROCOAL TECHNOLOGIES' CLEAN COAL UPGRADING FACILITY
 - First MCI commercial scale application of proprietary microwave technology to upgrade coal thermal output and reduce pollutants
- MicroCoal to receive US $6 Million installation fee and annual fees for six years
MicroCoal Technologies Inc. (formerly Carbon Friendly Solutions Inc.) has announced that its wholly owned subsidiary, MicroCoal International Inc. (“MCII”), has entered into a sales agreement (“Master Agreement”) with PT Wijaya Tri Utama (“PWTU”).
According to company's statement posted on company's website, It provides for the design, construction, operation, and maintenance of the first MicroCoal™ commercial facility utilizing the Company’s proprietary ground breaking coal drying technology (the “Facility”). The contracted price for the construction of the Facility’s installation is USD $6,000,000 (“Construction Fee”).
The statement further said that, a portion of the Construction Fee is to be paid up front, with the balance of the funding for the Facility to be secured by an irrevocable letter of credit arranged by PWTU for the benefit of MCII. In addition to the one time Construction Fee, PWTU has agreed to pay MCII an annual fee for a period of six (6) years and maintenance fees pursuant to the supporting agreements to be entered by the parties.
The Facility will be located on-site at the PWTU coal-fired power plant on the island of Kalimantan, Indonesia and will be designed to upgrade the calorific value of approximately 190,000 tonnes per year of low-rank coal (approximately 8,000 Btu/lb.) to a higher calorific coal (approximately 9,000 Btu/lb.) by removing up to 10% of the total moisture. MicroCoal has concluded that its technology can substantially increase the calorific content of this specific low-rank Indonesian coal above 11,000 Btu/lb. by further reducing the moisture content.
Slawek Smulewicz, CEO and Director of the Company, states: “The execution of this Master Agreement is a validation of the importance of our technology as part of a global energy solution that improves the thermal output of coal and reduces the pollution it generates. We are extremely delighted that PT Wijaya Tri Utama has purchased the MicroCoal technology to optimize the performance of their coal plant, as Indonesia is one of the world’s largest consumers of low-rank coal. This first commercial installation will serve to showcase the scalability of our modular microwave coal drying technology, which we plan to apply to coal-fired power plants worldwide. We are very excited to see the global commercial roll-out for this revolutionary technology.
About MicroCoal Technologies Inc.
The Company is focused on commercializing its unique, clean-coal technology through its 100% owned subsidiary MicroCoal Inc. MicroCoal is a low-cost, internationally patented microwave technology that reduces moisture in low-rank coal, thereby upgrading the energy content of low-rank coal comparable to that of more expensive high-rank coal.
One of the keys to commercial success for the application is its integration directly on-site at the utility's location, thus providing direct access to unused electricity during off-peak times.
The resulting effect is that the power required in the drying process has a greatly reduced input cost. Nearly all coal-fired utilities world-wide will now be able to switch to lower cost, low-rank coal and obtain substantial economic and environmental benefits, including major reductions in fuel costs, improved boiler efficiencies, and up to a 70% reduction in emissions of SOx, NOx and mercury. (Source: Company's website)
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Thursday, 25 July 13
CAPESIZE : PACIFIC AND ATLANTIC RATES ARE HOLDING STEADY - FEARNLEYS AS
Handy
The Far East market remains quiet even if some Indo coal trip orders were fed in the market at early this week. Prompt ships passing Singapor ...
Thursday, 25 July 13
SUMMER LULL CHIPPING AWAY RECENT GAINS IN DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In what seems to be establishing as a permanent trend, at least for the time being, the dry bulk market kept on retreating yesterday, even if this r ...
Tuesday, 23 July 13
NEWCASTLE'S COAL EXPORTS CLIMB 17.82% ON WEEK, PORT'S DATA SHOWS
COALspot.com: Newcastle port in Australia has loaded 3,369,865 tons of coal for the week ended 0700 hours 22 July 2013, Newcastle Port Corp. s ...
Monday, 22 July 13
DRY BULK MARKET DIFFICULT TO MAINTAIN POSITIVE DRIVE CLAIMS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has seen a significant recovery in recent weeks, leading most ship classes to earnings above their operating expenses, thus brin ...
Monday, 22 July 13
INDO COAL SWAP FOR AUGUST 13 DELIVERY GAINED ON WEEK BUT LOST ON DAY AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 delivery slightly up on week but fell on day and month on Fri ...
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- Larsen & Toubro Limited - India
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- The State Trading Corporation of India Ltd
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- Merrill Lynch Commodities Europe
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- Independent Power Producers Association of India
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- Port Waratah Coal Services - Australia
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- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
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- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
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- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
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- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
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- Electricity Generating Authority of Thailand
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- Economic Council, Georgia
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- Binh Thuan Hamico - Vietnam
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- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
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- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Tamil Nadu electricity Board
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- Vedanta Resources Plc - India
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- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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- Thai Mozambique Logistica
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- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
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- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- The Treasury - Australian Government
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- Mjunction Services Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
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- Thiess Contractors Indonesia
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- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Australian Coal Association
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
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- Globalindo Alam Lestari - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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