MCI Minnova Corp

Carbon Friendly Solutions Inc. (CNSX:CFQ) (the "Company" or "Carbon Friendly")
is pleased to announce that the Company, through its wholly-owned subsidiary
Microcoal International Inc. ("MCI"), has signed a Memorandum of Understanding
("MOU") with Hebei Iron and Steel Group Limited ("HBIS"), a major iron and steel
producer in China, setting out the terms for a detailed project design package
to be developed for a large scale industrial facility. HBIS utilizes
approximately 9 million tonnes of coal per year to produce steel. Microcoal
technology has been developed to reduce input costs, optimize operational
performance and decrease environmental footprint. 


Microcoal is focused on upgrading coal through the use of their patented
technology. International Energy Agency ("IEA") statistics indicate that China
is one of the largest thermal and metallurgical coal markets worldwide. Thermal
coal is primarily used for generating electricity, while metallurgical coal,
which must contain specific coking properties, is used in steelmaking. China
produces 51% of the world's metallurgical coal making it world's largest
producer and consumer of metallurgical coal, accounting for over 500 million
tonnes of consumption in 2010. (Source: IEA & World Steel Association)


Further, Carbon Friendly reports that its second visit to China has been
successful in establishing a number of relationships with coal-fired utilities,
which may provide significant opportunities for Microcoal's patented technology,
given that China relies on coal for 79% of its electricity generation. 


CEO of Carbon Friendly, Slawek Smulewicz states: "On behalf of the Company, I
would like to thank Ms. Li Yan, our representative, and her local team in China,
for establishing relationships and organizing meetings which led to the signing
of this MOU with HBIS, one of the world's largest steel manufacturers."


About Carbon Friendly Solutions Inc.:

Carbon Friendly Solutions Inc., through its subsidiaries, is focused on the
development of energy efficiency technology, renewable energy, and reforestation
projects that have the potential to generate significant revenue. MicroCoal Inc.
has an internationally patented technology that is expected to improve
coal-fired utilities' economic performance by reducing input costs, improving
operations and simultaneously reducing their environmental footprint. Global CO2
Reduction Inc. generates Carbon Offsets from forestry projects that may be
transacted through international voluntary markets. Carbiopel Eco-Stream Power
S.A. aggregates biomass supply and produces biomass fuel pellets for the
European market, including large European utilities and independent renewable
energy providers, in line with EU renewable energy directives.


On behalf of the Board of Directors

Carbon Friendly Solutions Inc.

Slawek Smulewicz, CEO and Director

Forward Looking Statements

This news release contains "forward-looking information" within the meaning of
the Canadian securities laws. Forward looking information is generally
identifiable by use of the words "believes," "may," "plans," "will,"
"anticipates," "intends," "budgets", "could", "estimates", "expects",
"forecasts", "projects" "approximately", "proposed" and similar expressions, and
the negative of such expressions. Forward-looking information in this news
release includes statements about Carbon Friendly's prospective business
relationship, the development of Carbon Offsets through forestry projects,
MicroCoal's technology, technology development and future roll-out plans.


In connection with the forward-looking information contained in this news
release, Carbon Friendly has made numerous assumptions, regarding, among other
things, our MicroCoal's patented technology and future sales. While Carbon
Friendly considers these assumptions to be reasonable, these assumptions are
inherently subject to significant uncertainties and contingencies.


Additionally, there are known and unknown risk factors, which could cause
MicroCoal's actual results, performance or achievements to be materially
different from any future results, performance or achievements expressed or
implied by the forward-looking information contained herein. Known risk factors
include, among others: the possibility that the rate of growth of the market for
the coal power system; future sales of MicroCoal technology may not materialize;
the technology may not work on a specific type of coal and its economic or
environmental benefits may not be realized in full, the substantial investment
of capital that may be required for a Build Own Operate Model; limitations
imposed by our financing abilities; difficulties entering international markets,
and sovereign risk.


A more complete discussion of the risks and uncertainties is disclosed in Carbon
Friendly's continuous disclosure filings with Canadian securities regulatory
authorities at www.sedar.com. All forward-looking information herein is
qualified in its entirety by this cautionary statement, and Carbon Friendly
disclaims any obligation to revise or update any such forward-looking
information or to publicly announce the result of any revisions to any of the
forward-looking information contained herein to reflect future results, events
or developments, except as required by law. Neither CNSX nor its Regulation
Services Provider (as that term is defined in the policies of the CNSX) accepts
responsibility for the adequacy or accuracy of the release.

Minnova (TSXV:MCI)
Historical Stock Chart
From Apr 2024 to May 2024

Minnova (TSXV:MCI)
Historical Stock Chart
From May 2023 to May 2024