podium

" News " from just one week ago. There are some interesting statements made !!
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Media Release

Monday 26 October 2009

Podium Energy secures $100 Million in equity for brown coal technology.

Podium Energy has facilitated the signing of Australia's largest investment deal with Vietnam, which has provided the first step towards commercialising a unique brown coal drying technology developed in Victoria.

Thang Long Investment and Commercial Joint Stock Company (TinCom) will invest A$100 million into a special purpose vehicle for the stage one construction of Coldry, a brown coal drying technology owned by Environmental Clean Technologies Limited that produces a high quality black coal substitute.

Podium Energy Director Doug Townsend said this successful negotiation and subsequent investment by TinCom would increase two way trade between Australia and Vietnam.
This is the start of what could be a massive increase in trade relations between the two countries, Mr Townsend said.

Vietnam is a rapidly developing country and Australia has expertise in developing technologies ready for global deployment.�

With much talk at Government level about the future of Australia's abundant brown coal reserves, private investment to the tune of $100 million into Coldry is a huge show of faith for the unique technology.

The Directors of TinCom recognise Coldry as the simplest and most cost effective method of drying brown coal and turning it into a black thermal coal substitute, Mr Townsend said.

Last month Vietnam Prime Minister Nguyen Tan Dung provided public, in principle, agreement to allow TinCom to invest in the production of Coldry pellets in Australia.

In his announcement, Prime Minister Dung referred to his assignment of the Ministry of Planning and Investment to consider issuing an investment license to TinCom.

TinCom has now received the license from the Ministry of Planning and Investment, giving validation that it has the approval of the Vietnamese government as a company with capacity to invest in large scale commercial projects.

Tincom Chairman Thang Van Luong said TinCom was a growing investment company with a goal to create a strong and powerful investment group based on the generation and integration of member corporations.

We are focused on assisting Vietnam in its energy security and this project is a way of helping Vietnam meets its energy needs in the future, Mr Luong said.

Podium Energy partnered with Australasia Holdings Pty Ltd to ensure best relations with the Vietnamese Government, TinCom and other stakeholders was reached.
Director Australasia Holdings Pty Ltd Albert Huynh said it was vital that foreign companies seeking to negotiate with Vietnamese businesses sought out the best local knowledge in the industries, as well as the country, where they are seeking investment.

Podium Energy recognises the importance of having expert knowledge in foreign governments, varying industry landscapes and general exposure to how to do business, which is why this deal has become so successful,�Mr Huynh said.

We applied our local knowledge of Vietnam and through our contacts were able to identify appropriate partners and get them interested in Coldry in a relatively short period of time.�

This is the first global deal for Environmental Clean Technologies Limited's Coldry technology.

Podium has been fundamental to establishing and developing the relationship with TinCom and we look forward to working with them to realize the enormous value of this deal, ECT Chief Executive Kos Galtos said.

Podium Energy and Australasia Holdings Pty Ltd will continue their involvement with this project for
the duration of the different stages that now must be worked through until construction is completed.

At the same time, Podium Energy will turn its export sales focus for Coldry to India and China and is in preliminary stages of opening other markets in developing countries.

The company is also identifying other brown coal technologies suitable for global exportation.

For further information contact Doug Townsend on 0422 002
359

http://www.podiumenergy.com.au/