Carbon Fuels Receives $2.0 Million Clean Coal Award from the DOE for Commercialization of its CharFuel® Coal Refining Process

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Visionary Colorado-Based Energy Company Recognized by DOE for Innovative Clean Coal Technology

Carbon Fuels, LLC, the developer of the novel CharFuel® Coal Refining Process, was awarded $2.0 million by the Department of Energy to operate its existing 18 TPD pilot plant located at Hazen Research, Inc. in Golden, Colorado to obtain engineering and product data essential for the design of commercial plants. This grant is awarded to companies whose technology and process show promise for using coal cleanly and sustainably. The CharFuel® Coal Refining Process produces high value liquid and solid products, while mitigating the environmental impact of using coal. This program will be carried out using two ranks of coal, Wyoming subbituminous coal (PRB) and Illinois (#6) bituminous coal.

“We are honored to receive this award,” said Lee G. Meyer, CEO of Carbon Fuels. “Carbon Fuels’ CharFuel® Coal Refining Process is an innovative technology that offers environmentally responsible growth opportunities for use of coal in both energy and non-energy markets. This process provides an avenue for efficiently and economically using coal, our most abundant high-energy-density (HED) fuel, while mitigating its environmental impact.”

Joining Carbon Fuels in this endeavor as sub-awardees are the School of Energy Resources (SER) at the University of Wyoming, the Illinois Sustainable Technology Center at the University of Illinois, and Hazen Research, Inc. of Golden, Colorado.

“Carbon Fuels is extremely fortunate to have the University of Wyoming School of Energy Resources and University of Illinois Sustainable Technology Center as participants in this project. Their knowhow and expertise in the energy field will assure the success of this project,” said Meyer.

About The CharFuel® Coal Refining Process
The CharFuel® Coal Refining Process refines domestically abundant, run of mine coal (in the same manner as crude oil is refined) to produce high value co-products, ranging from transportation fuels, petrochemical feedstocks and intermediates, ammonia fertilizers, as well as clean solid char. The CharFuel® Coal Refining Process produces little CO2 which is captured, removes pollutants such as sulfur, nitrogen, and mercury from the coal; and, requires no process water.

About Carbon Fuels, LLC
Carbon Fuels, LLC is an energy development company focused on the commercialization of its innovative CharFuel® Coal Refining Process. Carbon Fuels, LLC holds the rights to all of the process technology relating to the CharFuel® Coal Refining Process. The Company owns and operates the 18 TPD Integrated Commercial Development Unit (ICDU) located at Hazen Research, Inc. in Golden, Colorado. The Company plans to undertake construction and operation of a 500/2,500 TPD Commercial Demonstration.

Press Contact:
Eric Altman, CFO
303-648-1503
eric.altman(at)carbonfuels.com

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Eric Altman, CFO
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