March 26, 2014 - CORAL GABLES, Fla.--Coalview Ltd., LLC, North America’s leading fully integrated coal technology and fine coal recovery company, today announced the acquisition of all of the assets of KeLa Energy, LLC.
Terms of the acquisition, which closed on March 24, 2014 include the conversion of loans along with equity contributions made to KeLa by Miami energy technology investor, David Schwedel, and the assumption of certain KeLa liabilities by Coalview’s subsidiary, Coalview KeLa, LLC. Coalview KeLa, LLC will be 90% owned by Coalview, Ltd., LLC and 10% by KeLa Energy, LLC.
“This acquisition continues to strengthen our positioning as a fully integrated coal technology leader,” said David Schwedel, Executive Director and Lead Investor of Coalview. “KeLa’s patent portfolio and other assets will enable us to custom blend fuel products for customer’s specific requests. Coalview will continue to focus on our goals of allowing coal to become a more environmentally stable fuel choice.”
“KeLa’s technology provides our customers with a water resistant, environmentally improved coal product. This engineered product has shown significant emission reductions through EPA methodology testing,” stated Roger Fish, President & CEO of Coalview.
Stoker fuel trials comparing the KeLa product to similar coal have shown the following environmental improvements:
“Our goal is to improve on KeLa’s existing technology to lower SOx, NOx, and VOC emissions even further,” stated Mr. Fish.