Tuesday, October 17, 2017

Midtown Manhattan might soon be coal country

Robin Eves of Clean Coal Technologies Inc.
POWERING UP Eves says the time for his firm's cleaner-coal technology has finally arrived.
Matthew Flamm writes for Crain's:

Madison Avenue may seem like an unlikely home
for a coal company. But in recent months energy
executives from as far afield as Wyoming, China,
India and Russia have been visiting the Midtown
office of Clean Coal Technologies Inc. to discuss
the firm's methods for making dirty coal a more
efficient fuel.

Founded in 2007 through a merger with another
coal technology company, CCTI once traded at
more than $70 a share when speculators thought
clean-coal technology would soon come to fruition.
It is now a penny stock, has no revenue and has
just two full-time employees: a chief executive
and a chief financial officer.

But it does have patents. The company's technology can remove sulfur, moisture, hydrocarbons and other volatile matter from coal, allowing it to burn hotter and more efficiently.

CCTI started in Florida, but in 2010 its CEO, Robin Eves, relocated to a shared space on Madison Avenue to be closer to investors and leverage the city's status as an international crossroads.

The strategy worked. Coal companies from India and Indonesia have since invested more than $6M, allowing CCTI to begin building a test plant in Oklahoma. Denver-based

Black Diamond Holdings and other investors, including
a large Manhattan-based fund, have added $9 million
since 2015.

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