Purchases Improve Future Coordination of Easements, Logistics, and
CALGARY, Jan. 6 /CNW/ - EmberClear Corp. (TSXV: EMB) is pleased to
announce that it has closed several transactions to acquire surface and
coal rights adjacent to EmberClear's current mine at the Good Spring
IGCC site in Northeastern Pennsylvania, USA. Today's actions
substantially increase the size of our coal reserves by as much as 50
percent from the present 55-plus million tons.
The Company considered various ways to encompass contiguous formations
of anthracite coal and real estate so that it could optimize the future
value of coal reserves and achieve the lowest production cost per ton
in the most ecologically sensible configuration. The newly acquired
contiguous geological reserve of anthracite coal should be very similar
to the current 14,000 BTU per pound low sulphur metallurgical coal
located at the Good Spring IGCC site. The real estate surface ownership
should better enable future coordination of easements and logistics for
accessing the reserves.
"Consolidating a substantial reserve for this caliber of coal under one
party's control optimizes the value for such an asset," stated Albert
Lin, EmberClear CEO. "We began acquiring local anthracite years ago to
achieve certainty in supply and cost of fuel for the Good Spring IGCC
plant. After today, the possible future utility of this asset has been
Nick Cohen, EmberClear COO added, "Large anthracite reserves have become
exceedingly rare in this part of the world. The complexities of dealing
with multiple title holders which developed over a period of a century
and a half of ownerships made for a long and unpredictable process
which we are happy to see culminate in a win-win for all parties."
Total consideration for the transactions was less than $USD 3 million.
An updated mining plan plus geological engineering to accurately
measure the characteristics of the additional reserves will begin
EmberClear is a clean energy technology company developing energy
projects around the world. EmberClear projects typically utilize
advanced carbon based gasification, ultra-super critical,
super-critical, circularized fluid bed, and post combustion carbon
dioxide capture using various technologies in thermal chemistry
acquired through exclusive and non-exclusive licenses. EmberClear also
holds options and titled ownership to real estate and coal reserves.
EmberClear intends to utilize additional technology licenses as needed
to fully develop commercial scale energy projects. For more information
please visit www.emberclear.com.
Forward-Looking Statement Disclaimer
Certain statements contained in this document constitute forward-looking
statements or information (collectively "forward-looking statements")
within the meaning of the "safe harbour" provisions of applicable
securities legislation. Forward-looking statements are typically
identified by words such as "anticipate," "continue," "estimate,"
"expect," "forecast," "may," "will," "project," "could," "plan,"
"intend," "should," "believe," "outlook," "potential," "target,"
"seek," "budget," "predict," "might" and similar words suggesting
future events or future performance. All statements other than
statements of historical fact may be forward-looking statements. In
particular, this document contains forward-looking statements
pertaining to, without limitation, the following: coal reserves; the
future coordination of easements, logistics and recovery; and the
optimization of the value. With respect to forward-looking statements
contained in this document, we have made assumptions regarding, among
other things, the following: the quality of coal, the benefit of
consolidating coal reserves, and the recovery of coal. Although we
believe that the expectations reflected in the forward-looking
statements contained in this document, and the assumptions on which
such forward-looking statements are made, are reasonable, there can be
no assurance that such expectations will prove to be correct. Readers
are cautioned not to place undue reliance on forward-looking statements
included in this document, as there can be no assurance that the plans,
intentions or expectations upon which the forwardlooking statements are
based will occur. By their nature, forward-looking statements involve
numerous assumptions, known and unknown risks and uncertainties that
contribute to the possibility that the predictions, forecasts,
projections and other forward-looking statements will not occur, which
may cause our actual performance and financial results in future
periods to differ materially from any estimates or projections of
future performance or results expressed or implied by such
forward-looking statements. These risks and uncertainties include,
among other things, the following: the geological engineering findings;
the quality and economic recovery of coal reserves; regulation of
industry; environmental, health and safety laws; and an inability to
satisfy mine plan requirements. Readers are cautioned that this list of
risk factors should not be construed as exhaustive. The forward-looking
statements contained in this document speak only as of the date of this
document. Except as expressly required by applicable securities laws,
we do not undertake any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. The forward-looking statements contained in
this document are expressly qualified by this cautionary statement.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
© 2010 EmberClear Corp. All rights reserved.
All other trademarks are the property of their respective owners.
SOURCE EmberClear Corp.
For further information:
David G. Anderson
Chief Financial Officer