The Company intends to primarily use the proceeds of this fourth advance of financing to commence the transition from the warehouse to the AES Coal Fired Utility at Shady Point and into the commissioning stage.
"Now that fabrication is complete work has begun on relocating the plant to AES. The additional funding ensures a seamless transition and enables CCTI to continue to meet our schedule for the commissioning of the plant and the move into the commercialisation stage later in the year. We continue to move forward in a positive manner and the entire team is focused on execution and meeting our milestones at this very exciting and critical stage of the company’s development," said Robin Eves, CEO and President of CCTI.
