Carbon Friendly Solutions Inc. (CNSX: CFQ) (the “Company” or “Carbon Friendly”) is pleased to announce that MicroCoal International Inc. (“MCII”) has entered into a Memorandum of Understanding (“MOU”) with PT. PLN Batubara (“PTPLNB”), a subsidiary company of PT PLN (Persero), the state-owned utility of Indonesia.
Pursuant to this MOU, PTPLNB has expressed an interest to integrate the use of the MicroCoal(tm) technology into PTPLNB’s coal-based energy business in order to increase the heat value of the coal used by its coal power plants. Further, PTNLNB and MCII have agreed to negotiate and discuss the financing, including construction costs, of building and operating MicroCoal technology at one or more of PTPLNB’s coal-based facilities in Indonesia. The Company expects to shortly receive coal from PTNLNB and will conduct testing based on their coal and boiler specifications.