Amerod Resources has signed an A$250,000 ($192,000) six-month option to acquire White Energy Technology's patent for a briquetting process that transforms poor quality coal into a higher quality product.
Amerod hopes that the clean coal technology will give it entry to the Chinese market after White recently signed a heads of agreement with Datang International Power Co to form a joint venture to exploit the technology in China.
The briquetting technology, developed near Collie in Western Australia, improves the quality of coal and makes it more economical to transport.
White Energy values the technology at A$15.5 million ($12 million).
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