CCT said that under the deal with Science Applications International Corporation, it had already given an initial $2 million payment to SAIC for construction.

The agreement goes into effect following the termination of the Good Coal joint venture, officials said.

“We are pleased to have a new EPC agreement signed and in place,” director, president and chief executive officer Robin Eves said.

“We look forward to keeping our shareholders and loyal followers abreast of our developments as we continue to reach new milestones in the construction of our pilot plant, which is a crucial step on the road to deployment and monetization of our technology.”

CCT will be the sole counterparty to the contract, assuming all obligations for the project. It did not indicate the specific location of the project.

Once complete, the company will own the plant outright.

CCT, based in New York, holds patented process technology and other intellectual property to convert raw coal into a cleaner burning fuel.