CalciTech Ltd. (OTCBB:CLKTF) CalciTech is pleased to announce that it has secured the next stage of funding for this key project. The project is also promoted by the Bundesministerium für Wirtschaft und Technologie (German Federal Ministry for Research and Technology) with a financial grant. This project was launched in Summer 2010 with the participation of two leading research institutes, PTS in Munich and VDZ in Düsseldorf as well as the largest paper and cement companies in Europe: Stora Enso and Heidelberg Cement.
The aim of the project is to optimise CalciTech's process for converting the waste stream from recycled paper production into commercially valuable Synthetic Calcium Carbonate (SCC) and Sustainable Metakaolin (SMK).
This project has now passed its first milestones successfully which triggers the next phase of funding. The project is expected to be completed by the middle of 2012.
The directors of the company take responsibility for this announcement.This press release contains "forward looking statements" including forward looking statements as that term is defined in section 27a of the United States Securities Act of 1933 and section 21e of the Securities and Exchange Act of 1934. Statements in this press release, which are not purely historical are forward looking statements and include any statements regarding beliefs, expectation or intentions concerning the future. Forward looking statements in this press release include, but are not limited to statements which are subject to a number of contingencies and uncertainties, including, but not limited to, market acceptance for CalciTech's products, manufacturing of CalciTech's products in a commercial setting, obtaining adequate financing and construction management for products and obtaining appropriate permits. It is important to note that the corporation's actual outcomes may differ materially from those in forward looking statements contained in this press release. Although the company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations and intentions will prove to be accurate. Readers should refer to the risks disclosures in the company's public filings with the Securities and Exchange Commission.