Dallas, Texas 11/05/2013 (Financialstrend) – Seattle, Washington based L&L Energy, Inc. (NASDAQ:LLEN) is engaged in production, processing and commercialization of coal in China. It mainly operates in Coal Mining segment, Coking Coal segment and Coal Wholesaling segment. Largely the firm serves its clients in steel and utility/electrical industries. The stock of L&L Energy gained 1.31% on Monday, to end the session at $1.55. The stock traded with volume of 1.22 million shares compared to its 30 days average of 3.05 million shares. The stock has delivered over 18% negative returns year to date.
On Monday, L&L Energy announced to have secured rights to advanced membrane osmosis technologies from the CMT (Center for Membrane Technology). The agreement was signed on October 28, 2013. This will help company to support its clean energy initiatives in the Chinese market. CMT is the world leader in advanced membrane technologies and has also worked with Veolia Water, a European water utility company as well as with Taiwan’s Ministry of Economic Affairs, to separate industrial solvents that are used for semiconductor manufacturing.
These membrane technologies are used for filtering metals, CO2 and nitrogen from solvents. The membrane technology is also used for sustainable water treatment as well as for precious metal recovery, besides having range of environmental applications.
L&L Energy intends to apply this advanced membrane technology to projects with CLCIIC (China Low Carbon Industry Investment Center), following its technology transfer agreement signed with the CMT. The company also seeks to explore this technology in biodiesel while looking forward for immediate applications in environmental remediation water with recently announced partner, Wan Yuan.
The Chairman of L&L Energy, Inc. (NASDAQ:LLEN), Dickson V. Lee commented, “We are excited to partner with my alma mater, CYCU, to bring to market their leading technologies. Together with our knowledge of specific market demand in China, this partnership is another example of how L&L is leveraging its business strengths with partners to expand our footprint in the clean energy business.”