Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) until the release of this announcement.
6 April 2021
Clean Invest Africa Plc ("Clean Invest Africa" or the "Company") subsidiary CoalTech and Exagogi* sign Memorandum of Understanding for business development activities in India on behalf of the Company
Clean Invest Africa Plc (AQSE:CIA), the AQSE Exchange quoted investment company, is pleased to announce that its group subsidiary CoalTech Limited (“CoalTech”) has signed a Memorandum of Understanding (“MoU”) with the Exagogi group of companies in respect of Exagogi providing business development capabilities to identify business opportunities in India with CoalTech. Exagogi has a unique network of contacts and relationships in India and will provide access to market opportunities throughout the country.
CoalTech’s mission is to clean-up the millions of tons of coal fines waste and other high grade minerals & solid based natural resources waste globally consistent with the aims of the United Nations Sustainable Development Goals. India is ranked high worldwide in the stockpile of coal fines waste according to the IAE in a 2018 report. It therefore represents a significant market opportunity for CoalTech.
Filippo Fantechi, Chief Executive Officer & Director of Clean Invest Africa and CEO of CoalTech, commented "We are delighted that as a result of entering into this MoU we have secured the services of a leading Indian company that will accelerate CoalTech’s market entry into one of the largest and most significant markets for our services. We look forward to being able to contribute to the removal of the tons of coal fines waste in India through our proprietary green technology for pelletisation.
Working in partnership with the team at Exagogi will facilitate our expansion into India and provide the springboard for further opportunities in that country. We look forward to working with Exagogi and we will update shareholders as events unfold.”
Gerhard Hoffmann, Managing Director of Exagogi, “Exagogi is excited to work with CoalTech in India to transform low value coal fines into high value handable coal pellets that can be used in the Indian metallurgical and power generation industries. We have initially engaged with two Indian customers that are interested in utilising the CoalTech coal pelletising technology in their operations. We look forward to these projects coming to fruition to see the benefits to the Indian coal sector.”
The directors of the Company accept responsibility for the contents of this announcement.
*Exagogi is a private technology and solutions service provider in the field of coal, iron ore and mineral beneficiation with Indian and South African processing, project implementation & operations expertise in these fields including pelletisation. The group comprises Exagogi Consulting Engineering Pvt Ltd India and Exagogi Consulting Engineering (Pty). Ltd. SA a subsidiary in South Africa.
Clean Invest Africa PLC
Filippo Fantechi, Director
Telephone: +973 39696273
Peterhouse Capital Limited
Guy Miller/Mark Anwyl
Telephone: 020 7220 9795