The Government of Canada Provides Support to MicroCoal(r) Technologies Inc.admin
The Government of Canada Provides Support to MicroCoal(r) Technologies Inc.
Vancouver, British Columbia CANADA, January 23, 2014 /FSC/ – MicroCoal Technologies Inc. (CSE: MTI) (OTC: CFQSF) (Frankfurt: OFS.F),(the “Company”) is pleased to announce that the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) is providing advisory services, as well as funding, of up to $50,000 to support the testing of the effect of microwave radiation on coals and to evaluate methods to prevent the re-absorption of moisture.
Dr. James Young, Chairman of the Board states: “We are very pleased to receive the support of NRC-IRAP. Investment of this kind is essential and extremely important for all Canadian technology companies especially at a time when the world economies are starting to rebound from the depths of uncertainty. We look forward to working with NRC-IRAP.”
About MicroCoal(r) Technologies Inc.
MTI is engaged in the global commercialization and roll-out of its proprietary microwave coal drying technology known as MicroCoal(r). Classified as “coal-upgrading technology” MicroCoal(r) removes unwanted moisture and contaminants in all types of coal. The MicroCoal(r) process is an ideal solution for coal producers wishing to achieve higher prices for their coal as well as coal-fired utilities seeking substantial fuel cost savings by switching to low-rank fuels (i.e. up to $40 million per year for a large 1000 MW power plant) or to simply make improvements to boiler and plant operating efficiencies when combusting their normal fuel type. The process occupies a small footprint and takes place either on site the coal-fired utility or at any point between the power plant and the mine site provided a suitable power supply is available.
Important environmental benefits including reductions in most greenhouse gases (SOx up to 70%, NOx up to 50%, CO2 up to 17%) and mercury are also key primary benefits from implementation of this technology. The Company is currently constructing the first commercial facility in Indonesia with other projects being announced shortly.
We seek safe harbor.
On behalf of the Board of Directors,
CEO and Director
For further information please contact:
J. Malcolm Bell
V.P. Corporate Communications
MicroCoal(r) Technologies Inc.
Telephone: (604) 676 9792
Certain statements included herein, including those that express management’s expectations or estimates of our future performance constitute “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward looking statements. Except as required by law, the Corporation does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of the release.
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Source: MicroCoal Technologies Inc. (CNSX: MTI) http://www.microcoal.com
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Posted: January 23rd, 2014 under FSCWIRE.