Very interesting developments!18 Jul 2019 14:51
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
Sign In
Follow the stocks
