ECT signs MoU with K-Coal of Korea

Environmental Clean Technologies Limited (ASX: ESI) advises that following meetings in South Korea it has signed a Memorandum of Understanding (MoU) with Korean based energy company K-Coal Co. Ltd. The MoU provides K-Coal with exclusive sales and marketing rights into Korea for ECT’s Coldry technology.

ECT Chairman and Managing Director Mr. Michael Davies stated, “K-Coal is well positioned to participate in supplying Coldry coal into the very large and growing thermal coal consumer industry in Korea. K-Coal will build on the very strong relationships its parent company S&J Group has with the major energy companies in the region”.

S&J Chairman Dr. Kim Sung-Ryeal commented “S&J Group evaluated numerous coal drying technologies before we decided on Coldry. We like the fact that Coldry utilises a low temperature and low-pressure process, which means that the water released, is clean. S&J Group is a clean energy company and this is important to us. Also we are confident that ECT’s Coldry process is cost effective when compared to other technologies.”

S&J Group is a diverse, Busan Korea based group of companies. S&J have interests in Energy Distribution, Food Production, Leisure, Clean Technologies and Information Technology.

Whilst in Korea, Messrs. Davies and Carter met with the Vice Mayor for Economic Affairs for Busan Metropolitan City and the Chairman of the Busan Metropolitan Council together with senior K-Coal and S&J Group executives.

Mr. Davies commented “I was very impressed with the support to Busan area companies that the city government provides. S&J Group and K-Coal are well known to the city government and it was evident from our meetings in Busan that there exists a very strong and supportive relationship between the companies and the city government”.

“In addition, S&J has commissioned a number of major projects in the energy sector and has relevant experience in the delivery of major infrastructure projects”