CALGARY, Jan. 10, 2012 /CNW/ - EmberClear Corp. (TSXV: EMB) ("EmberClear") is pleased to announce its subsidiary, EmberClear Reserves Inc. ("EmberClear Reserves"), has entered into an option agreement to purchase property (the "Option Agreement") with Swatara Coal Company. The property is located in Reilly Township, Schuylkill County, Commonwealth of Pennsylvania, and consists of approximately 350 acres. Pursuant to the Option Agreement, EmberClear Reserves has been granted access to the property to conduct studies to determine the suitability of the property for supporting our project plans.
The Option Agreement has a one-year term subject to limited term extension and termination provisions. The Option Agreement provides that EmberClear Reserves will have the option to purchase the land and all mineral and allowable resources thereunder, including the water rights, rails, rights of way, and/or associated permits. If EmberClear commences coal removal from the land it shall pay a monthly royalty payment for all coal extracted from the land.
"The Swatara property is strategically located near our Good Spring and Walacavage properties," said Albert Lin, CEO EmberClear. "The opportunity to acquire additional assets supporting our advanced coal projects improves our position in creating economically sound low-emissions energy for this country. We are excited to continue building leading edge projects in this great Pennsylvania community."
EmberClear is an advanced energy development company. Based on global energy needs from a growing population, our solutions are designed to deploy commercial scale energy technologies, which enable dramatic improvements in the efficiency and cleanliness of fossil fuels and alternative energy sources. Our goal is to find economically viable business models with the potential to deliver reduced emissions of over 50% when compared to industry average results in the utilization of coal while also deploying state of the art carbon dioxide capture solutions.
Our expertise is being utilized by a diverse group of governments, utilities and industrial companies spanning a wide range of geographies with the common interest in creating gasification, supercritical (SC), ultra-supercritical (USC), circulating fluidized bed (CFB) and post-combustion carbon dioxide capture (PCC) energy solutions producing electricity, synthetic gas, liquid fuels, fertilizers, and industrial construction products. Our solutions often include the vast thermal chemistry sciences and processes developed by Huaneng Clean Energy Research Institute (HCERI). HCERI has the most experience and resources devoted to this industry. Our partnership ensures advanced energy solutions are financially sustainable so that the benefits accrue to the global marketplace and not just a few special 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 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: statements about our intention and ability to construct and operate an advanced coal, low-emissions energy project on the property. With respect to forward-looking statements contained in this document, we have made assumptions regarding, among other things, the following: the economic viability of an energy project, the suitability of this site for an energy project, the emissions generated from an advanced coal plant, and energy needs. 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 forward-looking 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 possibility that the property will not prove to be suitable for an advanced coal energy project or that EmberClear will not have the financial or other resources to develop, construct or operate such plant or other project. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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For further information:
David G. Anderson
Tel: +1 (403) 264-8817