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Clean Invest Africa Plc Joint Venture with Creon re Russia and the CIS
Source: UK Regulatory (RNS & others)
TIDMCIA
PRESS RELEASE
Clean Invest Africa plc
("CIA" or the "Company")
CoalTech creates Joint Venture with Luxembourg based Creon Energy Fund to
provide Russia and the CIS countries with green technology for a cleaner coal
industry
Clean Invest Africa Plc (NEX:CIA), the NEX Exchange quoted clean technology and
renewable energy investment company, is pleased to announce that CoalTech Group
("CoalTech"), its recently acquired subsidiary which has developed an
innovative agglomeration solution that converts coal fines waste deposits into
combustible coal pellets via a proprietary technology, has signed a joint
venture agreement with Luxembourg based fund management company Creon Capital
to jointly develop opportunities in Russia and CIS.
The joint venture company, CoalTech Sarl, has been established in Luxembourg,
and will develop the CoalTech business opportunities in Russia and CIS, which
account for roughly two thirds of the coal production in Eurasia, excluding
China.
Creon Capital invests in the joint project with its clean-tech Creon Energy
Fund (Sicav-SIF). The Fund's initiator, Creon Energy (Moscow) will be
responsible for the project implementation regionally, while adding value
through its unique network in the region's energy sector.
Creon invests with a view to creating scale in production, improve the quality
of industrial outputs, and to find and connect local partners. They help their
partners by providing financing and access to markets, in particular in the
field of green technologies with a focus on investing in medium-sized
processing projects.
CoalTech CEO Filippo Fantechi explains: "Our technology produces a valuable
product made out of polluting and toxic waste. Tested successfully initially in
South Africa, we are now ready to scale up globally. Russia and the CIS
countries are attractive markets from an environmental and health perspective,
as well as having an enormous industrial legacy. People in the region suffer
from poor water and air quality, as residues of coal production and processing
are often released into the environment. Drinking water is often contaminated
by coal fine leaching. In winter time, carbon particles from coal fines in the
air sometimes create what is known as 'black snow'. These coal fines will be
easily cleaned-up and processed into combustible pellets, with CoalTech's green
technology. We look forward to working with Creon to maximise this commercial
clean-up opportunity".
Dr. Fares Kilzie, Chairman and CEO of the Fund managing company Creon Capital,
is confident that the new technology will be in big demand throughout the
region: "People in Russia and other former soviet countries care increasingly
about how comp
"People in Russia and other former soviet countries care increasingly
about how companies treat the environment, especially when phenomena such as
'black snow' highlight the problem of pollution. Companies have to take this
into account, the industry and government authorities are seeking solutions and
the CoalTech green technology provides a commercially attractive solution
whilst enabling the industry to effectively improve its environmental and
social impacts."
Further updates shall be provided as the Russia and CIS opportunities develop.
***
ABOUT US
Creon Capital manages the Luxembourg-based Creon Energy Fund (Sicav-SIF). The
regulated Alternative Investment Fund (AIF) concentrates its investments worth
up to 100 Million Euro on green technologies, logistics projects, value-adding
midstream and downstream energy projects. The unlimited opportunity fund
cooperates with partners such as the Investment Corporation of Dubai (ICD) and
is focused on emerging markets and up and coming new business segments in
Eurasia and the Middle East. The Fund's initiator and general partner is the
Moscow-based independent consulting and management company Creon Energy, which
brings added value to projects in Russia and CIS countries.
CoalTech Limited is registered in the UK and its parent company, Clean Invest
Africa Plc is listed in London NEX Exchange (NEX:CIA).
CoalTech has developed a revolutionary and innovative agglomeration solution
that converts coal waste into combustible coal pellets via a proprietary
technology using a specially formulated organic binder and a customized
production process. CoalTech has developed its proprietary technology over
almost a decade, has an operational producing and testing plant in Witbank,
Province of Mpumalanga, South Africa. This plant started commercial operations
in November 2018. The plant is expected to operate at full capacity in the near
future, generating revenues on target margins based on a net monthly volume of
5,000 tonnes.
The Directors of the Company accept responsibility for the contents of this
announcement.
ENQUIRIES:
Company
Clean Invest Africa PLC
Noel Lyons/Paul Ryan
Telephone: +44 7912 514 809/ +32 475 754 148
Corporate Adviser
Peterhouse Capital Limited
Guy Miller/Mark Anwyl
Telephone: 020 7220 9795
Websites: www.coaltechenergy.com (CoalTech)
www.creoncapital.lu (Creon Capital)
www.creon-group.com Creon Group)
END