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CCTC > SEC Filings for CCTC > Form 8-K on 17-Sep-2013All Recent SEC Filings

Show all filings for CLEAN COAL TECHNOLOGIES INC.

Form 8-K for CLEAN COAL TECHNOLOGIES INC.


17-Sep-2013

Entry into a Material Definitive Agreement, Other Events


Item 1.01 Entry into a Material Definitive Agreement

Clean Coal Technologies, Inc. ("the Company") today announced that it has executed a site agreement with AES Shady Point, LLC ("AESSP") to host the Company's pilot plant at its power plant in LeFlore County, Oklahoma (the "Site Agreement"). The Company believes the execution of this Site Agreement is a major milestone in the commercialization of its unique processes. The Company's modular pilot plant is scheduled to be delivered to the Oklahoma facility within the next six weeks for commissioning and testing.

The construction, commissioning and testing of the Company's pilot plant at Shady Point is being conducted by Science Applications International Corporation ("SAIC"), under the terms of an EPC agreement signed earlier this year with the Company, as previously reported in the Company's Current Report on Form 8-K filed February 5, 2013. Although the pilot plant has been engineered by SAIC around the Company's unique concept for upgrading high moisture coal, a key component of the pilot plant is a devolatizer section that is also the core of the Company's Pristine and Pristine-SA clean coal processes. Together with certain front end test equipment under design by Carrier Vibrating Equipment of Louisville, Kentucky, the Company believes it will have put into place a very robust platform to rigorously test coal types from anywhere in the world, reliably generating key data to inform the design and functioning of commercial scale modules using any of the Company's proprietary processes.

The Site Agreement term is eight months, with active operations scheduled for approximately 8 weeks including ramp-up and shut-down. The agreement calls for the Company to pay AESSP approximately $94,000 for the use of the site, with additional pro-rated fees due if active operations continue for more than the planned 8 week period.

Also included in the Site Agreement, the Company has agreed to extend to AES Corporation, AESSP's parent corporation ("AES"), concessional terms for a future technology license on royalties and license fees that will be charged to the Company's anticipated commercial clients. Such terms would apply in the United States or anywhere in the world where AES has majority-owned operations.



Item 8.01 Other

The information included in Item 1.01 above is incorporated herein by this reference. A press release announcing the signing of the Site Agreement is attached to this Report as an exhibit.

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