(EnergyAsia, May 5 2011, Thursday) — Clean Coal Technologies Inc (CCTI), a New York-based clean energy technology company, said it has signed an agreement to license its technology to China’s Huamin Senior Fund Holding Group Co Ltd.

As part of the agreement, Huamin will initially construct a 1.5-million-ton-per-year clean coal facility that will be gradually expanded by five million tons over the course of the 30-year contract. The agreement provides for capacity increments to be installed either directly by Huamin Group or through sub-licence agreements.

CCTI said it will receive one-time licence fees based on installed capacity and ongoing royalties based on annual production over the life of the contract. The contract’s full details can be found in its 8-K filing with the US Securities Exchange Commission (SEC).

CCTI said it will start receiving licence fees with the completion and acceptance of the initial government-mandated feasibility studies process.

SAIC’s wholly- owned subsidiary, SEE&I, will undertake the engineering design, procurement and construction (EPC) services for all the plants.

“This contract is an opportunity to address China’s pressing need for a cleaner, domestic-sourced fuel.  The country has over 115 billion tons of coal addressable by CCTI’s unique technology that not only removes moisture, but also removes volatile matters containing coal’s worst pollutants,” said Robin Eves, CCTI’s President and CEO.

“This is a pivotal event in CCTI’s history. The agreement sets the stage for large-scale deployment of the CCTI technology in China and other contracts to follow, and is a major step in establishing CCTI as a global company.”

CCTI, a cleaner-energy, technology company headquartered in New York City, owns a patented process technology to convert coal into a cleaner burning fuel source.

Huamin Group is a Chinese government sponsored entity mandated to transition to self funding through commercial business development. Huamin has established a new commercial business division that focuses on environmental improvement technologies.