CalciTech secures funding on project to recycle minerals in wastepaper

GENEVA, May 16, 2011 (Business Wire) - CalciTech Ltd. 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.