and we all know the coldry works... esi's market cap is...

and we all know the coldry works... esi's market cap is $5m


Wednesday, 11 March 2009: Environmental Clean Technologies Limited (ASX:ESI) has reached
agreement with Indonesian coal mining company Ilthabi Bara Utama (IBU) to commence initial
testing of low rank coal samples from its East Kalimantan mine for suitability for application of the
Coldry process.

IBU controls over 3.3 billion tonnes of JORC (Joint Ore Reserves Committee) resources, which is expected to double upon further exploration, and has closed a US$135 million privately-arranged equity-linked note financing facility for mine development. The mine is currently producing up to 2m t.p.a. and plans to ramp up production to 10 to 15m t.p.a. over the next 24 months.
ECT Chief Executive Kos Galtos said that following completion of the necessary testing, a business case would be developed with a view to moving to a Heads of Agreement if all proved successful.
¡§IBU can provide sufficient coal supply to meet current and future coal requirements for a >10M t.p.a Coldry production plant. The opportunity to access such a large resource in Indonesia will provide the Coldry plant with a key footprint into the South East Asian Market where there are a
large number of coal fired power stations and consequently a huge market for the final product.
¡§Subject to successful testing of IBU¡¦s coal, a Heads of Agreement will be our next step,¡¨ he said.
IBU¡¦s Trevor Butcher said he was excited about ECT¡¦s Coldry technology and looked forward to a future together. IBU sees the opportunity to enter into an agreement to utilise a cleaner coal technology important in its development as a company with the goal to develop technology to make coal mining cleaner for the environment than it has been in the past.
¡§It is IBU¡¦s intention to enter into a joint venture partnership with ECT to construct a Coldry plant in East Kalimantan and to provide enough coal at an agreed price for at least a 10M t.p.a plant,¡¨ he said. Testing on the first samples of coal, sent by IBU, will be carried out to enable development of an acceptable business model before moving to a Heads of Agreement.
PT Ilthabi Bara Utama operates as a coal mining company with offices based in Jakarta and Balikpapan. The company currently produces thermal coal for both export and domestic
consumption. More information on IBU can be found on its website www.ibu-coal.co.id
For further information contact;
Chief Executive Kos Galtos +61 3 9684 0888.


Environmental Clean Technologies Limited
ABN 28 009 120 405
Level 1, 530 Little Collins Street „XƒnMelbourne „XƒnVictoria 3000 „XƒnAustralia „Xƒn+61(0)3 96840888 „Xƒnwww. ectltd.com.au
Coldry Process
The world¡¦s first economic method for dewatering
brown coal, creating a high energy pellet with
significantly reduced CO2 emissions compared to
brown coal, while being suitable for export as a
black coal substitute.
Matmor Process
A one-step method for producing low-carbon iron
from inexpensive, abundant brown coals and metal
bearing media such as mill scale, nickel tailings and
low grade iron ore.
Testing to start on Indonesian Coal